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Those who lose a loved one usually go through a time marked by sadness as well as one or the other drastic experience. It is not easy to separate yourself from a loved one. To give the deceased person a nice farewell, the funeral should be accordingly dignified and at the same time solemn. Most of the survivors, however, do not have the financial means to put their personal wishes and ideas into action. A funeral loan is therefore an appropriate way to raise the missing funds for both the funeral and the celebration.
Consider various cost factors for credit for a funeral
Hiring a tomb, paying the dole, and passing the coroner are just a few of the many factors that can affect the cost of a funeral. More money is needed for clothing, the coffin or the urn and the circuit of a newspaper ad. The funeral service, the tombstone as well as a speaker and flowers are further costs, which must not be disregarded.
In this way, more than 5,000 euros come together very quickly, not all on the high edge. A special loan for a funeral is extremely convenient at this point. With this cash injection creates a much more flexible framework for the bereaved, who during this phase, anyway little worried about money and would rather deal with the planning and design of the funeral.
Take credit for the funeral
A necessary loan for a funeral service is available at almost every bank in Germany. The condition is that the mourning creditors resign themselves to the fact that such a loan is granted exclusively in the form of an installment loan. There is no purpose limitation for this loan. Both the sum and the amount of the installments can be freely selected depending on the financing period.
Often the Undertakers themselves offer a loan for a funeral. So the relatives can save themselves the walk to the bank and get everything from one hand. Savings-conscious consumers should, however, have both of the bank and the undertaker to hand over a corresponding financing offer, so that a comparison of the respective offers can be carried out.
Since there is initially no collateral for the bank in the case of a loan for a funeral, in contrast to a traditional car loan, the potential borrowers themselves must take care of obtaining sufficient collateral. In this situation, anyone who can name a guarantor or a second applicant vis-à-vis the bank usually provides meaningful security. Valuable items and / or real estate are far more valuable for the planned financing business.
Worth knowing about the loan for the funeral
Typically, credit institutions do not rely on the statement that prospective borrowers benefit from money or other valuables after the opening of the will. As a rule, banks attach importance to having sufficient collateral already at the time of the signing of the contract, since a will can be challenged at any time. Until such a document is legally binding, it can often take several years to land.
It is also important to find out whether the deceased person has taken out a life insurance policy during his lifetime. If this is the case, the insurance covers all burial costs, which means that the loan for the funeral is significantly less relevant for all the necessary planning.