An enforcement order is for a loan application the knockout blow. The customer is not only insolvent but also no longer creditworthy. The procedure is as follows: first comes the reminder, then follows the enforcement order. If the customer has to pay open invoices, the creditor will be reminded with an extrajudicial reminder. If the customer does not respond to this, an enforcement order is issued, which can usually come from the district court but also from the tax office. The writ of execution is a hard negative entry in the remark and thus prevents a loan despite an enforcement order.
The loan despite enforcement order – the prospects
After the enforcement order, the customer has 14 days left to pay the claim or to file an objection. If this deadline expires, then it can be enforced. But if it does not help, the creditor can demand an affidavit, formerly a declaration of blessing. The customer must disclose his entire assets. If the customer has a regular job, it is likely to be garnished. The attachment exemption limit depends on the marital status and the number of children.
Loan with long maturities
It can also happen that a seizure does not apply because the debtor with his income is below the attachment exemption limit. Then, as previously mentioned, the creditor may initiate a disclosure oath. In such a desperate economic situation, a loan is not approved despite an enforcement order.
Often the situation could save a guarantor. But to include a guarantor in such a bad financial situation is untrustworthy. The bank will also ask, what will the customer pay back. If the wages are also seized, then the customer remains a non-disturbed amount. The customer should know that an enforcement order has validity for 30 years. As long as a believer can always try to get at his money. But this process is more than exhausting, so many creditors renounce their money.
The credit despite enforcement order must indeed be paid. If the situation is so bad, no guarantor should step in. Another circumstance would be if parents vouch for their child. It would then get the chance to carry your head up again. If a loan default occurs, the parents could continue to pay the loan despite an enforcement order if they are solvent. But whatever it is, a bank must be found to provide credit.
The credit despite enforcement order from abroad?
If you apply for a loan, you should have a good credit rating. This is a sufficiently high and regularly incoming income that is above the attachment exemption limit. The remark must be unloaded and must not contain any negative entries. Likewise a permanent employment is presupposed. Banks set strict guidelines here. The writ of execution is noted as a hard negative feature in the remark, which makes a loan impossible. The entry in remark signals to the bank that the customer has not fulfilled its payment obligations.
Of course, one does not want to demonize these persons, because many have slipped into such a situation without being guilty. It’s not just people who have a shopping addiction and have bought everything that was offered. Many people who have a serious job and fit into the social network, then life has played a very bad trick. Just think about a guarantee. Not a few people are ruined by a guarantee.
The bank has not checked exactly and the borrower could not pay the guarantor for the credit default on the part of the borrower. This results in an enforcement order for the guarantor, which has arisen out of pure good nature. Therefore, a guarantee should be taken with all the friendship and trust only if the accumulating credit installments can be paid easily.
Loan seekers looking for a loan despite an enforcement order can no longer participate in the actual payment transaction. Banks cancel the account and also frequently run loans. A situation that could not be worse arises. The enforcement order is registered in the remark and can be viewed by all contractual partners of remark.
The foreign credit that people often look for is negative entries such as unpaid bills, a forgotten mobile phone bill, people could avail of the remark-free loan. The bank does not ask the remark, the credit is not registered. But the foreign bank will see the public debtor directory. There is also the writ of execution and is then an exclusion reason for the loan also from the foreign bank.
The way out
As a solution, the question remains with relatives or friends after a loan despite enforcement order. If the customer can plausibly and confidently assure that the loan is being paid, then perhaps a financier could find himself. But then a proper written contract should be made, where all data such as loan amount, term and installment amount and a possible interest rate are noted.
If you urgently need cash, you can visit a pawn shop. If the customer still possesses valuable jewelery or high-priced media devices, then he could pawn those in the pawnshop. The value is estimated locally and the value paid out in cash. However, one should be aware of the deadline when the time passes, things will come up for auction.
The other way could be via credit portal sites. There private investors give credit to loan seekers. There are always several investors who offer a loan amount. The writ of execution should not be concealed, since even in these so-called private loans, the remark is queried. To what extent then the investors still offer, then would have to be clarified. The customer only has to create a profile and present his credit request in a transparent and trustworthy manner.