It is legitimate to speak of a loan despite a pension. For many, the pension is only extremely economical to survive. Creditworthiness also diminishes with purchasing power. The contribution compiles the credit opportunities for pensioners for you.
Credit despite pension – a generation is left behind
The pressure to perform in the world of work has risen steadily for years. It is understandable the anticipation of being able to do something again in life as a vigorous retiree. The first awakening from this lifelong dream strikes most when they hold their pension notification in their hands. According to the current figures of the German pension insurance, an average male pensioner receives only 998 USD. For women, an average of only 739 USD is paid.
The attachment table according to § 850c ZPO is the basis of every loan. Only an income that is earned above the garnishment exemption limit qualifies for lending. For a single person, as of July 2013, the income up to 1049.99 USD is attachable. The average pension does not qualify for a loan. The worst thing about the situation is that the scissors keep opening.
In 2013, pensioners (West) received a “generous” pension increase of 0.25 percent. An average pensioner received – rounded up – about 2.50 USD more pension. The loss of purchasing power in the same year is at least 1.5 percent (about 14.97 USD based on the average pension). The exemption limit is based on the actual cost of living. It increased by 20 USD compared to 2012.
So you can really only speak of a loan in spite of a pension and not a financing with a pension.
Escaping the credit crunch
Anyone who is really still a vigorous retiree has a good chance of freeing himself from the credit crunch through retirement. Instead of retiring to well-deserved retirement, people “spit in their hands”. Already in 2012, 17 percent of all mini-jobbers were older than 65 years. Attention, who plans the step, only up to 340 USD can be earned in addition to the pension, otherwise there is a risk of deductions.
Average pension and mini job together qualify for a loan. Depending on their age, a loan from almost any credit provider can be used. If you do it like retirees, you can use the cheap online offers.
A further option to apply for a normal loan can be made possible via property collateral. Many retirees have made provisions and created home ownership. The security of a paid house also has a positive effect on the credit opportunities with a lower pension. Without a home, the children can help them get a loan in spite of their pension by guaranteeing the loan.
Mail order and department store credit for pensioners
With no guarantor or property collateral, credit offers with the average pension are severely limited. A department store loan is possible, for example to finance a new washing machine.
In addition to personal loans, mail order and department store loans offer the best prospects for a loan despite a pension.