Housing allowance despite work on 400 USD and credit?
Housing allowance despite work on 400 USD and credit? Hello everyone, I have already searched half of the Internet, but I have really not received any information for my use case. Now I have a job on a 400 USD basis and receive about 230 USD per calendar month because my salary is so high that I don’t have the time to do so much to get the 400 USD.
I also receive a private loan from a friend in the amount of 600 USD, which of course I have to repay after my graduation (that was also in writing). Am I entitled to housing allowance if I have to pay a warm rent of around 300 USD? Because I have to pay 100 USD course fees + health insurance and other insurance, there is not much left for food at the end of the month.
Is there a housing allowance calculator where you can add a loan to your salary so that you can find out the approximate amount of the housing allowance (if I have any application for it)? One reads that loans are not considered revenue. Re: Housing allowance despite work on 400 USD basis and loan?
Common housing allowance calculators
You can try out all common housing allowance calculators. The loan is of course not a salary worthy of recognition, so do not enter it in the housing performance calculator! Re: Housing allowance despite work on 400 USD basis and loan? Thank you for the feedback. What only surprises me if I did not include the loan, I would fall below the minimum salary of 230 USD.
How do you calculate that with the salary and the loan? Because I can earn my living not only with my salary. Re: Housing allowance despite work on 400 USD basis and loan? Credit is not money in the sense of housing allowance, but you can pretend to achieve basic income.
Re: Housing allowance despite work on 400 USD basis and loan? Loans are just a plausibility check to see if you have enough time to live. Re: housing subsidy despite work on 400 USD basis and loan? The subsidy I get with the housing subsidy calculator calculates whether I only enter my salary there, did I really recognize that?
Re: Housing allowance despite work on 400 USD basis and loan? Yes, your own salary is only considered part-time. You still get a housing premium, and probably not too tight. Re: Housing allowance despite work on 400 USD basis and loan? Thank you very much for the very useful feedback and I wish you a good time before Christmas.
What is credit protection?
Credit protection is an instrument for risk reduction in finance. With a credit protection, or credit security, the risk of default in the context of an installment loan or construction finance is reduced. Credit protection actually occurs wherever there is a creditor-debtor relationship. You can secure a loan by including things, rights, insurance or the creditworthiness of third parties as security in the contractual relationship.
Why do you have to secure a loan?
The bank needs credit protection to ensure that it gets its money back from a borrower. Security applies when the borrower gets into payment difficulties and can no longer pay the loan installments. Then the bank seizes property of the borrower via a court, for example. That turns the bank into money and thus balances the loan.
Above all, a borrower should secure his installment loan to protect his family and relatives from financial burdens in the event of an emergency, such as disability or, in the worst case, death. If the borrower dies, his survivors inherit not only his property but also his debts. If the bereaved accept the inheritance, they must recognize both the assets and the debts as heirs. If it is clear from the outset that the inheritance consists largely of debt, the surviving dependents can actively reject the inheritance within 6 weeks of becoming aware of the inheritance. If this period expires, the inheritance must be started. Depending on how high the potential debt is, this can result in high debt for the heirs. You can prevent this from happening by securing your credit.
Both contracting parties need credit protection, especially for loans with long terms of 10 years and more and large sums. Even if the borrower’s creditworthiness is not the best, for example because he has a negative credit check entry, a low income or already has other loans, you should secure a loan.
A rule of thumb is that one should secure the loan with loan amounts starting from 25,000 dollars.
How can I secure a loan?
There are several ways you can secure a loan. Some of these are common and commonly used types of credit protection, others may be less common, but still useful. We would like to introduce some variants to you. Three of these directly affect the loan agreement and two also secure you beyond the loan agreement. All the types that we explain below have their advantages and disadvantages and are more or less useful in some situations and under certain circumstances.