Single mother is looking for credit or financial support
A single mother is either single, widowed, permanently separated or divorced. In addition to the father, single parents can also be foster parents or grandparents.
Single mothers, fathers or foster parents live in a household with their child or children. The parent living with the child or children is the immediate caregiver. Very few may have planned to become a single parent.
Single parents and single men in Germany are particularly often affected by high debts.
As a single mother or father, the chances of getting a loan are less than e.g. B. In a steady partnership or marriage. In most cases, the income of single parents is very low. Many banks classify single parents as not creditworthy.
Single mothers often have the problem of missing child support payments or there are old debts from past marriages that need to be paid. In this way, the loan for the single mother can quickly move far away.
Other reasons why single mothers can run out of money
The most common causes of single mother’s financial problems are:
- Loss of job (compatibility of work and childcare – KITA)
- Divorce, separation and death of the partner
- Illness or accident
- Inefficient housekeeping
- Failed independence
The ways into the debt trap can be very different.
What state benefits are there for single parents?
- parental benefits
- housing benefit
- Child benefit and child allowance
- Social assistance and one-time payments
- Credit Ai and vocational training aids
- Tax relief
Who can the single mom or dad turn to if they have money problems?
Single parents with money problems should contact their closest confidants, such as family members or friends, first. You may be able to find financial support here. A loan from relatives might be without or with low interest rates than from a bank.
It becomes difficult when the single mom or dad already has debts. Then there is only the way to debt advice.
But where do women who raise their children alone get financial support when even their relatives can no longer help?
We receive questions almost daily and ask how;
- Which bank lends money to a single mother?
- Where can a single mother apply for a loan?
- Single parent, no job, get resin 4, who offers financial help?
- Low income mother is looking for an instant loan with fast payout.
- Who privately lends money to a single mother?
- I urgently need small loans, I live separately – who knows reputable credit intermediaries?
- I am a single mother and a welfare recipient, do I still get a small loan?
- Where can I take out a loan as an unemployed divorced wife and mother?
For one-parent families with one or more children who are looking for a reliable loan agency, there has been a new way of lending money in addition to banks and credit institutions for a few years.
This new form of lending money is crowdfunding. Private donors finance the loan request z. B. also from single parents. They present their project for which you need the money in an online community. Money investors can then decide whether they want to invest in the concept.
In crowdfunding, private donors collect many small amounts of money until the desired amount for the loan is reached. Being able to propose the interest rate yourself as a borrower is a great advantage over banks or other credit institutions.
Crowdfunding has become increasingly popular in Germany in recent years.
Loan to single mother or father of private individuals
To date, three large online credit portals have established themselves in this area in Germany.
Registration with these credit exchanges is free of charge. Among other things, these credit marketplaces are also known from TV advertising. The credit marketplaces work with banks to improve the processing, payment and support of crowdfunding loans.