A loan for a horse – how to apply?

 

Many see it as a special privilege and last but not least luck if they have their own horse. Equestrian sport is not only a big issue for little girls. In addition to a nice hobby, you will also find one or the other full-time horse owner who can earn a lot of money with his beloved four-legged friend. No matter whether as a rider at large tournaments or as a breeding animal.

Before you get there, you have to think about buying a horse. And that’s where the problems often begin. Because you can’t get a well-trained or even noble pedigree horse for a few hundred USD. It is rather the case that there are hardly any limits to be seen in terms of price. If the purchase cannot therefore be covered by the savings, a loan for a horse could provide the necessary financial means.

There are different variants

Depending on the loan amount and the term of the loan, different sources can be tapped into for a horse loan. If you only need a little money over a short period of time, you can think about whether the overdraft facility could possibly serve as a source of money. It is directly connected to the checking account and acts as a call credit. This means that when withdrawing money, an application does not have to be made in advance, since this was already done when the current account was opened. The overdraft facility usually has an overdraft limit of up to 2 net incomes. Every now and then there can be a larger or smaller overdraft facility. Depending on what was negotiated with the bank.

If the money for the loan for a horse is taken out of the overdraft facility, it must be ensured that a particularly quick settlement is sought. Because the effective annual interest rate for the overdraft facility is very high. Currently, this is an average of 11 percent. So if you do not want interest rates to eat up all efforts to compensate, you should be aware that overdrafting is only the right solution for a loan for a horse if it can be repaid within a very short time.

A second and probably better variant around a loan for a horse can be found in the taking out of an installment loan, which is also known as consumer loan. The biggest advantage of this loan option is the low interest rate and the lack of earmarking. The bank does not have to know what the money from the loan is used for. This avoids a rejection that could well happen if the bank does not see a sensible investment in buying a horse.

The installment loan can be adjusted directly to the purchase. However, we recommend that you not only think of the purchase, but also all other fringe benefits that need to be financially reconciled. This means insurance for the horse and possible transport from the old to the new owner. There may also be a larger veterinary bill that is due for an animal health check before purchase. All in all, therefore, you should always think on a large scale in order to be able to really cover all costs relating to the purchase of a horse with the loan.

Important tips for borrowing

Important tips for borrowing

A loan for a horse should only be taken out if the future horse owner can afford the monthly running costs for maintenance. From the stable rental to the feed to the veterinarian, the farrier and the insurance company, several hundred USD a month add up, which will accrue again every month.

In addition, the loan should not simply be taken out at the house bank. If you carry out a comparison and pay particular attention to the effective annual interest rate and the repayment conditions, you will be able to save a lot of money. Because even small differences in the effective interest rate can save several hundred USD in the end.

By the way: the effective interest rate does not only depend on the provider. The borrower can also have a positive impact. For example, if the creditworthiness is particularly good and there is sufficient collateral.

Take advantage of special loan offers for pilot loans.

Many dream of flying. However, only a few can train as pilots. Firstly, because it is very complicated and requires very good knowledge and the will to learn. On the other hand also because a pilot’s license is very expensive and in many cases the implementation fails because of the money.

Around 60,000 to 70,000 USD have to be estimated in order to study at a respected aviation company and to get the pilot’s license. A lot of money, which can be raised with a special loan for pilots. However, it is not enough to talk to the bank or savings bank about an installment loan. Even if it is not earmarked and can therefore be used for the pilot’s license, it still requires security that is unlikely to be provided.

Among other things, a fixed income must be shown. However, anyone who goes on to become a pilot does not have this fixed income. And finding a guarantor for such a large loan amount is not really easy either. We therefore recommend that you take advantage of special loan offers for pilot loans.

The partner banks of the training centers

The partner banks of the training centers

If you get your pilot’s license from a well-known aviation company, you cannot hope that the company will pay for your training. However, he can assume that companies such as Lufthansa have partner banks that provide support for borrowers for pilots.

In order to be able to avail a pilot loan from one of the partner banks, it is important that the qualification test has been passed in advance and that admission to pilot training has been obtained, otherwise the partner banks will not be granted a loan because its intended use would not exist. In addition, there is a consistently positive Credit Bureau to put the borrowing on a solid footing.

In many cases, the loan only has to be repaid at the end of the training. There is therefore no double burden and the prospective pilot can always concentrate on his training in a relaxed manner before he has to think about how to pay the loan.

But what does it actually look like when you need a loan as a finished and employed pilot?

A welcome customer

A welcome customer

Anyone who has a permanent position as a pilot will be a welcome customer at every bank and at every savings bank. Even if you want to borrow money.

Because pilots are generally considered to be very reliable, have a steady and above all high income and are considered determined. If you then add a positive Credit Bureau, the risk of default around the loan is so low that it is happy to be given. And at the best conditions and in the version requested by the customer.

We recommend performing a comparison before borrowing that shows the best loan deals around a pilot loan. The comparison can be made conveniently over the Internet. It is important that it is stated that there is a permanent job and a fixed and high income. Then the offers are aligned accordingly and the search is simplified.

Lightning credit in 24 hours

Thanks to the Internet. Applying for a loan in total anonymity is now a breeze. The advertising promises the lightning credit in 24 hours. We have researched and informed whether it is really as fast as advertising promises the consumer. Or whether there is a catch.

Is a lightning credit possible in 24 hours?

Is a lightning credit possible in 24 hours?

The flash credit in 24 hours is unfortunately only available in theory. Almost all installment loans are standardized banking products. The banks automatically process credit inquiries with the appropriate software. The software often even approves the loans, of course only if everything fits. This means that a clerk does not have to be on site in order for decisions to be made about credit inquiries. Incoming credit inquiries can be processed within a few minutes.

In this respect, there is something in the advertising of credit in 24 hours. Unfortunately, the person who has been granted a loan does not have the money available during this time. But that’s what it’s all about when you talk about lightning credit in 24 hours. A lightning credit during this time is definitely not possible with a direct bank.

The process after the loan decision

The process after the loan decision

When a loan is approved, it always takes a certain amount of time for the approved loan to be paid out. Anyone who is familiar with the processing of credit inquiries at banks is not surprised if they respond to an offer that promises the loan within 24 hours but does not get the money so quickly. As a rule, advertising is only used by banks to encourage consumers to apply for a loan from them. Technically and organizationally, the payment of an approved loan is not feasible in this short time frame.

If a loan is approved, the contract documents are either sent by post by the bank or the borrower prints out the contract documents himself. In the case of mailing, it can be expected that the contract documents will reach the customer the following day. The customer must then take the signed contract documents and the accompanying proof of income to a branch of the Post Office in order to participate in the Post ident procedure, which serves to legitimize and is required by the Banking Act.

The signed and completed documents go straight from the post office to the bank. It therefore takes about three working days for the signed contract documents to be returned to the bank for settlement. Now the credit contract is checked, and if everything is correct, the payment of the loan amount is instructed: the money is then in the account the following day.

Lightning credit in 24 hours yes – but the money is not available

Lightning credit in 24 hours yes - but the money is not available

So the principle of advertising is not really wrong, maybe a bit misleading. Anyone who believes in advertising and thinks it is possible to get a loan paid out within 24 hours is wrong. It is also easy to understand that for organizational reasons alone it is not possible to approve and pay off a loan from one day to the next. In theory, this can only be done in a branch bank, but that is also unlikely.

Nevertheless, loans are paid out much faster today than a few years ago. If you absolutely need a quick loan, you should therefore not only pay attention to the advertising that promises the lightning loan. It is much more important to make a free loan comparison in advance in order to take out the cheapest possible loan in the end. All banks process credit inquiries in the same way, so it can be assumed that the money will also be paid out to other banks within a short time.

Credit in hopeless cases

 

Usually, a loan is no longer a big deal these days. If the loan seeker has an acceptable income, his Credit Bureau is clean and if he has a permanent job, he gets a loan from every bank. Nowadays, a loan seeker doesn’t just have to be satisfied with his house bank. Many online banks that are advertised on the Internet provide loans and with conditions that a local bank cannot meet. A customer with a good credit rating can choose a bank that has the best conditions. But there are also customers whose creditworthiness is weakening. For this clientele, a loan is considered in hopeless cases.

The outlook

The outlook

If a customer contacts a bank, he is of the opinion that he fulfills all the requirements to obtain a loan. Banks check the income, the Credit Bureau and the employment. If she receives only positive responses from her request, the credit stands. But there are also customers whose credit rating leaves something to be desired. The Credit Bureau shows negative entries that make a loan almost impossible.

An entry is created quickly. The mobile phone bill was not paid, the installment payment from the mail order company was simply forgotten, the installments could no longer be paid and … and … and there are many reasons that lead to negative entries and ruin the customer’s creditworthiness. If you are looking for a loan in hopeless cases, you should first carry out a personal and free Credit Bureau query. It has often happened that there were entries that had long been completed or were not deleted. The customer would then have the advantage that his credit rating increases again.

Not only bad Credit Bureau makes a loan necessary in hopeless cases. If you have taken out too many loans and have to pay them, you may have reached the point where your credit line is exhausted. But what can the customer do to get a loan in hopeless cases, especially when the car has to go to the workshop or other important things have to be paid. However, the customer should know that a low income or a bad Credit Bureau need not be the end of a loan.

Because banks often do not see a “soft” negative feature as a loan rejection. Here, a credit broker can help the customer find a bank that still provides these loans in hopeless cases. A positive situation also arises when the customer has his finances under control again in the meantime. Even then, a loan could be realized in hopeless cases

The credit protection

The credit protection

When banks refuse a loan in hopeless cases, they often require credit protection. That could be a second borrower. However, requirements are also placed on it. The income must also be sufficient, the Credit Bureau must be clean and there must be permanent employment. The second borrower could join the loan agreement or take it entirely in his name. The advantage would be better conditions for the loan seeker.

A surety can also provide the necessary protection. The guarantor has roughly the same tasks as the second borrower, he secures the loan with his assets in hopeless cases. The same requirements are placed on him as a second borrower. However, there are differences. You can find them in the different positions. The second borrower takes out a loan with the loan seeker and thus has the same rights and obligations as the borrower.

A different picture emerges with a surety. The guarantor can vouch for all or part of the loan. It depends on the guarantee contract that is concluded in addition to the loan contract. It too must be solvent.
In summary, it can be said between a second borrower and a guarantor that the bank can demand repayment of the loan on the second borrower, since both borrowers are jointly and severally liable. A guarantor only comes into effect when the borrower stops paying. A co-applicant should therefore have an economic interest in the loan.

Real estate or a loanable life insurance can also serve as credit protection for a loan in hopeless cases.

Stay away from dubious providers

Stay away from dubious providers

A loan in hopeless cases should only be taken out if there is an urgent need for money. Because banks don’t deny customers a loan for nothing. A loan termination that arises from the fact that the customer can no longer pay the loan is an unpleasant thing. Not just for the bank, but also for the customer. Some statements from lenders who do not require collateral with a restricted credit rating and who nevertheless promise a loan should not be accepted.

The cornerstones of a credit approval were not set to annoy the customer, but also to protect them. There are many people in this country who are over-indebted and no longer know how to pay installments simply because fraudulent elements have already granted them credit on credit. Sometimes the loan amount was not that high, but the interest rate that some loans have falls into the usury category.

The Internet is full of promises of this kind. If a provider promises to provide a loan in hopeless cases without collateral, without income, or even with bad credit, all bells should ring for the loan seeker. Fees and upfront costs were not infrequently asked for without a loan. The loan seekers were also forced to sign insurance contracts that nobody actually needs.

The end of these scams is that the customer doesn’t get a loan, but has to go through a lot of unnecessary money. If he also signs an insurance contract, he then has to pay insurance premiums to cover his financial hardship. The debt spiral then emerged.

The risk of over-indebtedness

The risk of over-indebtedness

The customer should know that with a serious loan, income is always checked, Credit Bureau is queried and a permanent job must be available. If there are restrictions on the aforementioned requirements, the reputable bank requires credit protection as described above.
A customer shouldn’t get involved with anything else.

Credit for tax back payment

The tax office is tireless in collecting tax debts. No matter how high they are. Anyone who has become conspicuous in this regard will not get rid of the ladies and gentlemen of the tax office so quickly. Tax debts arose very quickly. Regardless of whether you are self-employed or employed: If additional payments are made, you have to act quickly to avoid unnecessary annoyance.

The self-employed and freelancers are most likely to be affected

The self-employed and freelancers are most likely to be affected

The self-employed and freelancers are most often affected by additional tax payments. They have no fixed income and are therefore recalculated every year. The surprise is often very great when there is a juicy additional payment and the surpluses generated during the year melt like ice in the sun.

For many affected people, it goes much further. They have not created any corresponding reserves and are faced with financial difficulties due to the additional payment. Normally, people would be advised that they should simply take out a loan for an additional tax payment. However, it is not easy for self-employed and freelancers to get a loan. Especially not if it is to be used to settle tax debts.

Compare different loan offers

Compare different loan offers

In spite of all this, it must be seen how the tax debt can be cleared out of the way as quickly as possible. And the easiest way to do this is with a loan for a back tax payment. While private individuals can use a simple installment loan to get rid of tax debt with the help of a loan for back tax payments, the self-employed and freelancers should see whether they can find a second borrower or a guarantor to borrow. This greatly simplifies borrowing and reduces the risk of default for the banks. If it is even possible to have someone else take out the loan for an additional tax payment without the self-employed person or freelancer appearing in the loan documents, even a simple installment loan for private individuals can be drawn on, which offers a low effective interest rate and flexible repayment options.

Ask the tax office for help

Ask the tax office for help

If no loan can be taken out for an additional tax payment, it is important to limit the damage as much as possible. Bank refusals should be collected and sent to the tax office as proof of efforts to borrow money. If this sees that no loan is possible, it may engage in an installment payment. In difficult cases, such an installment payment agreement is offered for six or twelve months and does not generally apply to all defaulting debtors. In order to be able to use the installment payment, a corresponding application must be made.

In this context, it is always important to try to solve the problem and not simply ignore the tax debt. In such a case, the tax office will very quickly take far-reaching steps, which include, among other things, an account attachment or the closure of the company. Therefore, constant contact with the tax office is important in order to present your own situation as honestly as possible so that in the end a joint solution can be found. Because tax debts are not a trivial offense and must always be paid.

Credit during pregnancy

Anyone who is pregnant can suddenly face many new issues. From furnishing the baby room to a stroller, a baby can quickly become expensive. Expectant parents often try to finance this expenditure with a loan. A loan during pregnancy is fundamentally not an impossible thing. However, there are a few things to watch out for so you don’t end up in a debt trap.

The loan in pregnancy

The loan in pregnancy

If you apply for a loan during pregnancy, you have to do the same tasks as with a conventional loan. This means that there can be no negative entry with Credit Bureau, no large other loans are open and that there is a steady income. If the pregnant woman fulfills these requirements, then lending is generally not a problem. Ideally, the loan is taken out together with the life partner, but the loan amount usually depends on the partner.

A person is generally not required to disclose their pregnancy. However, it is recommended to be honest when advising on such matters. This is the only way the advisor can calculate the rates appropriately. Working with just the goal of getting a loan during pregnancy can turn out to be a big mistake in the end. So you have to expect a drop in salary after the birth of the child. However, these may not be too large, otherwise you may no longer be able to pay your installments and the debt trap threatens. For this reason, it is also recommended that an exact calculation is made. It should be noted that a possible parental allowance is limited to a maximum of 67 percent of the previous income.

Alternative options

Alternative options

If conventional banks fail to get a loan during pregnancy, then you have to look for alternatives. One possibility can be social facilities that provide emergency financial assistance to pregnant women in need. Here, however, the expenses must prove that the money was used for the child. The advantage of such facilities is that often no immediate repayment is necessary. In this way, pregnant women not only receive financial help, but also some time.

If this option also disappears, then private providers can offer a solution on the Internet. There are a number of portals on the net that provide personal loans. However, such a loan usually has higher costs than a comparable offer from a bank. Therefore, each person should think carefully about whether they are still able to pay the monthly installments after birth. In any case, the different providers should be compared very carefully. This is the only way to find the best loan and possibly save some money.

Detailed research is also recommended. You will often find testimonials and tests that give you a good picture of the provider. This is a good way to avoid possible dubious providers. You can only find a good and reputable loan if you inform yourself in advance and take the time necessary to make a comparison. 

Credit for veterinary bill

 

When the beloved pet falls ill, humans and animals suffer equally. After all, the loyal companion should always be well in all situations. And so it is no wonder that a lot of money is often put into the vet so that the beloved four-legged friend can get back on his feet and recover.

But especially when complex operations or lengthy therapies are pending, many pet owners quickly reach their financial limits. Because if you think that a veterinarian only takes a few USD for treatment, you’re wrong. Many hundreds or even thousands of USD can be requested in order to give the animal a dignified life again.

If the owner’s saved money is insufficient, in many cases a loan is taken out for the veterinary bill. This is usually an installment loan that does not follow any special requirements and can therefore be used flexibly.

Find the right loan offer

Find the right loan offer

No matter whether dog, cat, horse or bird – if your own animal is sick and needs medical help, then you want to send it to him. Many pet owners are still in a good mood at the beginning of treatment and hope that the costs will remain moderate. But at the latest when a veterinary clinic also has to be visited, the moderate prices are over. Because in veterinary clinics, high-tech is used to fight for the well-being of four-legged friends – and this causes horrendous costs. Here the question often arises for the owner whether he can afford these costs. If not, this can be the animal’s death sentence.

So that nobody has to give up their animal out of necessity, you should always first try to take out a loan for the veterinary bill. Every traditional bank does this in the form of an installment loan. Provided that the borrower’s credit rating allows it.

Adjust the loan amount

Adjust the loan amount

Since an installment loan is not earmarked, it is ideal as a loan for the veterinary bill. You don’t have to tell the bank what the money is needed for and you can adjust the loan amount to the USD exactly to the veterinary bill. So you don’t take in too little, but not too much money either.

Particularly good offers around a loan for the veterinary bill can be found if a comparison is carried out on the Internet before the admission. The comparison ensures that with a good credit rating, a very low effective interest rate can be used, which does not make the loan unnecessarily expensive. In addition, the comparison can be used to see how the rate will develop depending on the term. In this way, it can be carefully considered in which monthly installments the loan for the veterinary bill should and should not be repaid. The decisive factor is always the monthly rate that the borrower can afford.

Incidentally, some veterinary clinics already offer financing options for veterinary bills. These are small loans, which are also tailored directly to the resulting invoice. However, quite large rates usually have to be paid here, because the clinic wants to have their money pretty quickly. In addition, there is no possibility of a comparison since there is always only one offer.