A consumer loan provides more flexibility

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The economic situation in Germany and also in Lübeck remains tense. Many people have been on short-time work for a very long time. They have to live with significantly lower monthly income, although their costs have hardly or not at all been reduced. This is a real challenge for many households.

There is no doubt that this is possible for a limited period of time. If you have to get by with significantly less money than expected over a longer period of time, it is important to find an adequate solution. In the current time, many people are opting for a classic loan in order to be liquid again. Because after your own reserves have been used up, you still need liquidity, of course. In this article, you will learn what is really important when taking out a personal loan.

A comparison can save you money

who is looking for a classic personal loan, should first make a comprehensive comparison. Because there are very many different providers, each with different conditions. And sometimes there are also special conditions for new customers or special professional groups. For this reason, you should definitely take the time to compare the many different offers before taking out a loan. You can do that on the comparison portal Smava, for example. There you can find the best offers for a personal loan with just a few clicks.
And especially with a good credit rating, the interest rates on loans are currently really cheap. So you can benefit from extremely attractive interest rates and don’t have to worry about the interest at all.

As a borrower, you should consider that

If you decide to take out a personal loan in the current time, then you should look at the numbers very carefully beforehand. Because it is not yet reliably foreseeable when the measures will be over and you can work again as usual. For this reason, you should not calculate the repayment too tightly and give yourself a little more leeway. It may well happen that short-time work continues for a few months in many companies. And in such a case it should of course not come to the fact that you can no longer pay the monthly payments. Therefore, you might want to maintain a slightly higher degree of flexibility and choose a loan that gives you the option of a break in installments.

Beware of excessive liabilities

Many people are in dire financial straits these days. So it is understandable that they are looking for a loan so that they can continue to have enough money for the upcoming expenses. However, you should be careful not to overpower yourself. Because even in the future there will be expenses that may prevent you from paying off a loan. To prevent this from happening, you should choose the installment amount so that you can actually pay it month after month. If you feel that you can no longer meet your financial obligations, you should turn to a debt counseling service. There you can get professional help before your own situation seems hopeless. And even if the situation is extremely tense, the professionals from debt counseling can often still achieve something for their clients.

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