It will not be easy to get a loan without a guarantor despite Credit Bureau entry. Especially when the loan application is made to a German bank. Before these banks approve a loan, the customer’s Credit Bureau is queried. A credit exclusion is a negative entry. However, there are ways to help the customer get a loan without a guarantor despite Credit Bureau entry. An explanation over at recherches-facile.com
The loan despite Credit Bureau entry without guarantor – the prospects
The loan despite the Credit Bureau entry without a guarantor is seen by many as the last lifeline. There have never been so many people in Germany in debt, and there have never been so many bankruptcies. The factors that led to this must be understood. Just think of the temporary contracts, the temporary workers, only a few people can live an acceptable life with their income. For many loan seekers, it is no longer possible to plan their finances and more and more are turning to a loan without a guarantor despite Credit Bureau entry. Lending in such a tense situation is very difficult to achieve. In such a situation, it is understandable if an invoice or reminder is not taken into account or simply lies there.
In order to still get a loan from a German bank, the entry must have been some time ago and it must be one of the soft features. The solution for the loan is secured financial conditions that have shown no payment irregularities since the negative entry. Here, the way to the house bank could perhaps be crowned with success, since it can easily check the customer’s good financial position using the account.
Banks want collateral, which includes sufficiently high and regular income, impeccable Credit Bureau and permanent employment. If negative entries are found in the Credit Bureau when the bank is queried, the bank behaves more than reluctantly. If a loan is approved, the customer must provide collateral. If he cannot, the loan will not be approved. Even if the debt is paid and the entry is completed, the entry remains visible to Credit Bureau’s contractual partners for three years. Normal banks and lenders then withdraw with a loan.
A credit broker can then be a way out of this situation. At least that promises the advertising of this professional group. Nevertheless, Credit Bureau entry, they offer credit facilities at special banks in Germany and abroad. If the Credit Bureau entry is only a soft feature, for example an unpaid or forgotten cell phone bill, there are loans from private to private. Two major market leaders such as Smava and Auxmoney have long established themselves on the financial market and are considered serious.
The slightly different loan
The loan from abroad, much advertised and often demonized and yet often the last resort to the loan despite Credit Bureau entry without guarantor. Private credit brokers are active in this business and provide customers with the Credit Bureau-free loans. This form of credit is called Swiss credit in particular, as it came primarily from Switzerland until 2009. But internal bank inconsistencies have prohibited banks from granting loans to Germans. With the court ruling that was pronounced, all credit providers disappeared from the market.
The market leader of the Credit Bureau-free loan now has a bank from Liechtenstein, Fine Bank, which has the necessary banking license to grant German loans. The loan offer is as manageable and traditional as before. Only three loan amounts come from the bank. Depending on the creditworthiness, 3,500 dollars, 5,000 dollars or 7,500 dollars are approved. In order to receive a loan without a guarantor despite Credit Bureau entry, the customer must have a permanent employment contract that has existed for at least one year. Trial period is not recognized. The unemployed and the self-employed also fall out of the bank’s grid.
The Credit Bureau is not relevant for this loan, and the loan is not entered. Nevertheless, the Liechtenstein bank will review the public debt register. If there are the so-called hard features such as bankruptcy, distraint, execution or an oath of disclosure, the bank rejects the loan despite the Credit Bureau entry without a guarantor.
The client’s income must be stable and come from his or her job. It must have an attachable portion of at least 80.00 dollars. An example: a single person must earn a net 1,160 dollars, a four-person household 2,500 dollars. The income must not be attached.
The terms of the loan amounts are standardized, they offer no flexibility. All three loan amounts have a term of 40 months. The interest rate is roughly the same, namely 11-12%. The rate for the 3,500 dollars loan is 105.00 dollars, 5,000 dollars credit 150.00 dollars and 7,500 dollars credit of about 225.00 dollars.
The loan application can be made through a credit intermediary. A few personal details must be entered in the application. The preliminary loan decision is transmitted on the basis of this data. The credit application is then sent, which is signed by the customer and sent to the bank by post with the required credit documents such as payroll, bank statements and a copy of the employment contract and ID card. If the latter has checked the documents and found them to be good, the loan is approved and the loan amount is paid out immediately.
The bank takes a little longer to check the creditworthiness, although no Credit Bureau is queried. As a result, it takes a few working days for the final loan approval.
If you are not as creditworthy as banks dictate, you should check your finances to see if a new loan is necessary. The question of the affordability of a new loan should also be raised. The best way for customers to see this is to set up an income / expense plan. If there is financial scope left, a loan could be serviced. However, experts advise not to fully exploit the financial scope. Financial bottlenecks can occur again and again and there is no capital available to compensate for the bottleneck. So a small sum should always be saved.