The word housewife’s credit sounds strange to many ears. The name was coined at a time when the distribution of roles was still very pronounced. The man worked and earned the money, the woman stayed at home and looked after the household and children. Women had no say in the use of the money. Nevertheless, it was sometimes necessary to get a small loan, be it for a new washing machine or a defective heater.
The housewife loans were intended for such cases and for this group of people. The bank usually gave such a small loan without any problems because the risk was low because the men’s income was used as collateral.
Housewife Loans in Transition
The term housewife has changed more and more in recent years and decades. Both parents are increasingly working, or the man is staying at home while the woman is working. As a result, the household loan was no longer exclusively designed for housewives. It is now an instant loan that can be applied for by single people, men or women.
In a conjugal community, the partner who does not have his own income also has a right to participate in the use of the total income. There is also a so-called pocket money claim. The poor partner has a share of 5 – 7% of the income available for his own use.
How and where are loans applied for housewives and unemployed?
Banks generally only grant such loans to people with their own income. Even a 450-dollar job is usually not considered sufficient to pay the monthly installments of a housewife loan. So it will be difficult to apply for installment loans alone. If income is available, credit information will be obtained when applying for the loan. With this, the bank wants to find out about the solvency of the applicant and secure it.
If there is negative credit information, this can be a reason for the rejection of the instant loan. The peculiarity of a housewife loan, however, is that no such request is made. Alternatively, small loans can be applied for on the Internet. Some institutes guarantee that the request will be processed within a few minutes and that an acceptance or rejection will be made directly.