Co-Borrower Issues for your Seaman Loan and How to Qualify for Allottee with 60 Years Old and Above

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Basically, many lending companies prefer less risk with a loan in approving them especially for a non-collateral loan like a seaman loan. But what if your co-borrower or allottee is your mother or aunt or a nearest relative who happens to be a senior citizen? What happens if your co-borrower is already over the age of 60 years? Is there a way to still get consideration for such special case?

Well, in many cases, the only way to remedy this allottee co-borrower problem is to provide another co-borrower who is also an immediate relative. To the least, a nearest relative. If this happens, you may or may not need to change your allotment certificate with your manning agency.


On the other hand, if this case is hard to come up with, there is still another way. That is to have your case waived by the approving officer or marketing officer. But of course, there are limitations to this waiving procedure.

You will have to have a co-borrower who is at least 60 years old and at maximum up to 65 years old. This is according to one of my lending company providers of course and this may not be true all the time and with all other seaman loan providers. Fear not, you can talk to me about this issue and I would be glad and willing to help you out with your problem without any charge at all.

All you have to do is to ask me to be the one to assist you in your seafarer cash loan application. Again, not all lending companies will allow this so make sure to talk to me. CLICK HERE.

Be sure to go check out another page of important facts, figures and information regarding the lowest interest seaman loan.