Loans for students are still enjoying growing popularity. But other promotional loans, such as loans, which are used by the state-owned KfW Bank, have always been in great demand. In contrast to other, “classic” loans, the first-named credit options are characterized by their extremely low interest rates and flexible terms. A real plus in any case for the borrower. In view of these advantages, it would not be easy for cost-conscious consumers to resort to a “normal” loan in some cases. However, there is another difference between a student loan or a KfW loan and a traditional loan: Student loans or student loans are generally only available on presentation of a certificate of performance. Otherwise, these loan options are not even mediated. But what to do if no proof of performance can be presented – for whatever reason?
Who wants to take a loan without a certificate, should know that this endeavor could sometimes prove difficult. Because said proof of performance is in a sense a hedge for the money-giving institutions against the background that particularly favorable credit conditions can be granted at all. Certainly it is possible to pass on a performance certificate that is currently not yet available. So it is – depending on the lender – very well possible to present this document in the fourth or fifth semester. According to experience, different reasons can be the cause of such a delay, for example illness, an accident, the fault of the respective university or even possible delays that arise in the context of a student semester abroad. But the fact is that a certificate of achievement must be submitted sooner or later in any case. If this obligation were not fulfilled, theoretically anyone would be able to avail himself of such a low-cost, flexible loan. Where did the earning potential for the providers of classic loans stay?
If, for whatever reason, it is not possible to submit the required proof of performance to the bank and thus to prove that you are actually entitled to benefits, such a loan without a certificate of performance becomes a “normal” loan. A process that certainly has consequences, because the conditions with regard to interest, administration costs and so on are adjusted almost immediately to the new circumstances. In view of the fact that there are some “black sheep” among the borrowers who want to “sneak up” a particularly low – interest loan without a certificate of merit without even having the right to do so, banks and credit institutions are forced to invest in Adequately secure the apron. So, if you can not or do not want to present the certificate of performance up to a certain point in time, you will ultimately be asked to pay. In the worst case, even the recovery of the paid-out debt occurs. However, if the recipient of the money has already spent it for other purposes, the chance of falling into the debt trap is correspondingly high.
There are many good reasons for putting together all the necessary documents and submitting them to the lender before using a loan. If there is generally no possibility of presenting proof of performance, but if you still want to be granted a reasonably priced, flexible loan, it is essential to start looking for alternatives. Certainly the world wide web has a lot of interesting alternatives in store. Whether these are just as attractive as a student loan or a promotional loan, only becomes apparent when one looks carefully and deliberately at the red pencil and takes a closer look at the relevant conditions.
The worse it is for the creditworthiness of a consumer interested in credit, the more difficult it will generally be to obtain a favorable credit. After all, it is above all the responsibility of the lenders to ensure from the outset that the requested loan can be repaid in full until the end of the contractually agreed term. If this is not the case or if financial losses are to be expected, banks and credit institutions quickly decide against granting a loan.
Non-schaffling loans or so-called Swiss loans are quite promising alternatives in this respect. But it is worthwhile to separate the wheat from the chaff in advance. Because even here there are sometimes one or the other black sheep, which could bring the borrower in particular in financial difficulties …