To assess your credit rating, then only your own information and proof of income will be considered. Those who were unable to service loans or financing rates in the past, or who already have too many loans on the run, generally have to expect a rejection of new loan applications. Read here how to get a loan despite the Credit Bureau entry. The higher risk the lender has paid for him accordingly. The loan without Credit Bureau is a unique product.
Credit despite Credit Bureau / loan without Credit Bureau information
In principle, it is extremely important for every debtor that the Credit Bureau information does not contain any negative credit entries that reduce creditworthiness. As a rule, credit institutions only grant loans and credits to their customers if, in the past, there were no difficulties with different forms of financing or the repayment of claims.
Credit institutions and lenders have an easy opportunity to learn about the borrower through Credit Bureau before actually lending. Finally, Credit Bureau records the payment behavior of the past years in detail and, if necessary, takes the current financing options, such as B. existing mobile phone contracts, vehicle financing, etc. note. But it is not always the unpaid or failed loans that have an important function in rejecting a loan.
It is also quite possible that the banks, the mobile operator or the car-house refuse to conclude a loan or a contract with their customer, if the monthly credit load is already a maximum. In particular, if there is a risk of a no longer meaningful repayment of the new loan, the loan application is rejected.
Security criteria in the granting of loans
The Credit Bureau counts in the Federal Republic as one of the most important security criteria in the granting of loans. But there are also ways and means to get a credit despite Credit Bureau information. And the Credit Bureau? The Credit Bureau is a privately owned nationwide institute, the so-called protection company for general credit insurance.
It has set itself the task of making each individual citizen transparent in their financial transactions for the lenders. Accordingly, all information about financial transactions, loans, mobile phone contracts, etc. is collected at Credit Bureau. Although most people consider the term Shufa as something bad, there are positive things about the survey.
Because all properly repaid assets are held at the Credit Bureau and raise their own rank. In the case of borrowing, the house bank transfers the data to the Credit Bureau, and after the repayment of the loan, the rates are still available so that the house bank can make a positive mark. Numerous positive reports from successful financing agreements can then be of crucial importance for future financing applications.
What will happen if you don’t want to fulfill your payment obligations?
You will only receive a negative Credit Bureau entry if you are unable or unwilling to fulfill your payment obligations. In the event of insolvency-related termination of loans, contracts or accounts, this is recorded in the personal Credit Bureau file. In addition to Credit Bureau members and notifiable persons, many service companies such as electricity suppliers, telecommunications providers or mail-order companies and trading companies are also represented.
In principle, bailiff visits can also end in the Credit Bureau file. Anyone who has received a negative entry from Credit Bureau due to financial constraints will in future be required to forego financing or lending by a bank. This usually means that even the simplest loans or cheap mobile phone contracts are rejected. In the meantime, however, there are also a number of foreign banks, which grant loans to upstream customers despite Credit Bureau’s accession.
Because it is usually not possible in this country to submit a loan application to a German house bank with a negative Credit Bureau entry, they must look for other financing options. There are many financial service providers on the Internet who provide non-credit-financed domestic and foreign credit. Because unlike in many other states in the Federal Republic of the Credit Bureau information does not serve as a basis or yardstick for the granting of loans.
In particular, CH has been operating this form of credit for years and can support German companies with credit-independent loans. This is also the main reason why, in addition to the term loans without Credit Bureau or loans without creation also the term Swiss. The Credit Bureau information is insignificant in this type of loan, since the banks only secure the revenue of the borrower.
A creative-free loan is therefore only possible for people who have a regular income. How high the monthly salary must be, the banks have their own and individual requirements. If the minimum income is not guaranteed from a bank perspective, there is no loan agreement. Because most lending, despite Credit Bureau via intermediaries, ie not directly with the house bank, settled, each borrower should be informed in detail about the institution concerned.
Unfortunately, there are enough black sheep in this area to apply for a loan, but to collect it for their services without transferring the loan. The question of whether the loan is really paid out is different. When comparing loans, however, one can choose the company names that are considered serious in the job market and have undergone individual independent audits.
However, those wishing to enter into a loan agreement without Credit Bureau information should be aware that the lender can not afford particularly advantageous conditions due to the smaller collateral. Often, the borrower has to calculate with double interest rates compared to comparable loans without a negative Credit Bureau entry. Even an interest rate of more than 10% is no exception and can further worsen the financial situation of the debtor.
Because eventually the interest rates determine the additional burden, a corresponding comparison of non-creative financing is highly recommended. How much a granted loan amount can be despite the Credit Bureau entry depends on many things. Most banks have a limit system that they grant to their customers. Other credit institutions have no obstacle to grant a creative-free loan amount of eg 50,000 USD or even 100,000 USD.
In principle, we must not overlook that such loans are a good deal for the banks. Only the credit default risk discourages many institutions. The great advantage of a loan without creation is that he is not listed in the Credit Bureau even after the application.
Accordingly, a prospective lender knows nothing about the bonds. This may, for example, be of interest to borrowers with sufficient creditworthiness and a good Credit Bureau entry. If the creative-free loan loan should only act as an “intermediate loan”, other and larger financial wishes need not be hindered. A credit rating reduction does not take place and another normal borrower’s note loan with Credit Bureau information can be claimed.
Among other things, the loans can be paid out by mail without Credit Bureau, so that the loan does not have to appear on the borrower’s account. To what extent a credit without creation pays off because of the comparatively higher expenditure, however, each borrower must determine itself.