Loan without own income

Income is the money that is available to a household or an individual. In classic marriage, the man earns a working income while the woman takes care of the household. Colloquially, the financial situation is presented in such a way that only the husband earns his own income.

This view is in fact not correct, since the housewife’s income consists of maintenance and pocket money or payment of her expenses. The tax office also divides the income between the two spouses through spouse splitting. Couples living together without marriage do not enjoy tax benefits, but the tacit agreement on maintenance payments also applies to them if only one partner receives income or social benefits. According to the correct definition of income, there can be no loan without own income, since every person draws one directly or indirectly.

Lending without own income

Lending without own income

Banks often view a loan granted to a housewife as a loan without their own income because they do not follow the actual definition of income, but do not consider the maintenance by the partner as such. This does not apply to all credit institutions, some of them generally make the household bill with household income.

In fact, spouses are jointly liable for any loan liabilities they have entered into, provided the borrowed money is intended for the purpose of living together. Mail order companies grant installment payments as a loan without their own income, since they only rarely inquire about the available household income, such as a high order sum.

Use private lenders

Use private lenders

It is easier for consumers to obtain a loan without their own income from gainful employment or social benefits via a platform for arranging private loans. Since the private lenders registered there are often based on social criteria, there are no fundamental concerns about lending to inactive housewives or to students supported by their parents.

In the case of a loan with no personal income from employment or social benefits, the borrower ensures that he can pay the loan installments from the maintenance or pocket money he has received. In addition to the loan amount, the loan term determines the amount of the monthly loan installment, so that extending the term reduces the burden. In the case of loans from private individuals, in contrast to bank loans, it is customary to state the purpose of use, as this also contributes to the decision to award.

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