In this day and age, it is no problem to fulfill wishes about a loan. If there are enough collateral and a corresponding income, the banks do not have problems with a loan commitment. However, the situation is completely hopeless if there is a seizure. How it can still come to a loan despite seizure, we explain here.
What is a garnishment and when does it happen?
A garnishment must be requested by the creditor at the competent district court. The attachment transfer order is then submitted to the employer or the bank. How high the seizure may be depends on the number of people in the household and the net income. According to the Code of Civil Procedure (ZPO), the attachable part of the income is then retained and transferred to the creditor. If there are several seizures, the creditor who first applied for the seizure referral order is served first.
It comes then to a seizure, if with the creditor no agreement was reached and this had rejected a installment. Previously, however, the payments of the debtor have failed. At first this is reminded. This can be done several times. If payments are still not received, the order for payment and then the writ of enforcement will be requested. This is followed by the visit of the bailiff.
Entry in the private credit
A garnishment is entered in the private credit. The banks see this as soon as they check the creditworthiness of the customer. If there has been a seizure of the labor income, this will be recorded on the salary or payroll. Some banks, especially the online banks, want to see these proofs of income. Cheating is therefore not possible.
A loan despite garnishment is not awarded through a conventional bank. This also applies to foreign banks. Actually, the person concerned should not have so much money left over to pay any installments for a loan. The money is then barely enough to make a living. It would be irresponsible to award a loan in this case, despite seizure.
Money from private investors
Friends and relatives can help financially. But there are also providers of loans by private investors on the Internet. Actually, these do not give loans on bad private credit, but exceptions confirm the rule. These private lenders see a loan as a low-risk investment. The loan amount consists of several donors, which keeps the risk very low. Interest with double-digit amounts is sometimes offered and some of these donors do not say no.