Unfortunately, Germany has increasingly turned away from many old people. Even if the elderly don’t run around like beggars, a loan, many of them no longer get it. Only the younger generation can help.
Loan despite pension is often only possible as an act of solidarity.
On their own, pensioners can hardly help themselves to be creditworthy at all. The problem is increasing poverty in old age. The same politicians who have decided on a garnishment exemption limit of USD 1030 for single people do not help the pensioners. There is a lot of talk in Berlin about old age poverty. Pension payments of USD 850 are to help. These are then linked to so many conditions that only a few will probably enjoy them. But even if it did come – a minimum pension of 850 USD for everyone and without conditions. The sound barrier of the garnishment allowances would not be broken.
A bank is not a social organization. It must bear the responsibility for the savings deposits vis-à-vis its savers. When lending, the garnishment exemption limit is an important criterion. The attachability basically determines who is creditworthy at all. Without significantly increasing the level of pensions, many pensioners will probably not be creditworthy in the future either. Unless they have property that is attachable. In the countryside, where many used to build a house, credit is still possible despite a pension. Without additional security, only the younger generations can help.
Guarantors for grandma and grandpa
Even today it is the case that many pensioners cannot buy the important things of everyday life. Nevertheless, even with all economy, the washing machine breaks. The loan despite the pension should at least make it possible to buy in installments. Unfortunately, even for simple commodity loans, there must be a minimum of creditworthiness. This creditworthiness can be offered by the younger generation. If you want to support your grandparents, you vouch for your small loan. So neither age nor income limits are a problem.
From a socio-political point of view, it is incomprehensible how trillions are pumped into USD rescue without providing human dignity for the elderly. An act of European solidarity should apply to parents and grandparents of all nations. Instead of preventing the bankruptcy of rich investors, at least morally, the loan should be possible again despite the pension.