Apprentices are usually defined as young people who have a training contract for dual vocational training. Dual believes that the knowledge required for the profession is partly acquired in the training company and partly in the vocational school. http://www.vazlda.com/10-things-you-should-do-before-applying-for-payday-loans-no-credit-check/ for further explanation
More and more vocational training courses can also be completed school-wise and at school-affiliated training workshops; however, their participants are generally considered to be course participants or pupils, especially since, in contrast to apprentices in the dual system, they do not receive any training allowance. Depending on their degree, apprentices are often only seventeen at the beginning of their apprenticeship. You can hold a giro account until you reach the age of majority and you need it to receive the training allowance, but the bank can not grant you a loan before the age of majority, even with the consent of the legal guardian.
Loans for apprentices
Many banks grant apprentices a small discretionary framework on the current account as the first microcredit for trainees without guarantors when they reach the age of majority, since the training allowance represents a regular income. If the trainee wants a larger loan amount, he can apply for it online or at a bank branch. For many apprentices, the special feature is that they can keep training allowance entirely or for the most part as pocket money, since their parents do not need the child’s participation in the cost of living.
Unfortunately, direct banks in particular do not always take this special living situation into account in their household bills, so they often reject the requested small loan for trainees without guarantors. A branch bank, on the other hand, conducts a personal credit conversation with the full-time trainee, who can take into account all facts presented in the granting of the loan. A confirmation from the parents that they actually receive no cost money from the adult trainee is useful as evidence of the availability of the entire training allowance.
This only confirms the information given by the trainee and does not constitute a guarantee. If trainees live alone on the basis of a home away from their parents’ home and receive support from their parents in addition to their trainee remuneration, they can also provide proof of this to the bank through appropriate confirmation.
Private loans for apprentices
A favorable microcredit for trainees without guarantors can also be applied for via a private credit intermediation website. The respective pages are moderated by a recognized commercial bank, through whose account the credit processing takes place. However, the decision to authorize the loan for non-sponsored trainees is made by private individuals registered as lenders. These make their credit decisions mainly on the basis of the description of the purpose for which a loan has been requested. Many private lenders consciously prefer people with low credit ratings when granting loans, so that the credit request of the trainees is mostly fulfilled.