Who wants to apply for a loan without credit bureau, has many providers in the market. As a rule, banks always receive credit bureau information when making a credit request. Some banks have specialized in this and want to give customers the opportunity to borrow with negative credit bureau information. An alternative is a personal loan. Therefore consumers with negative credit bureau ask if there is a credit without creditworthiness and credit bureau.
Are serious loans possible without credit bureau?
Nowadays, the majority of people live with credit. Many everyday situations, many unfinished or without foreign means very difficult to finance concerns and intentions. The potential borrower usually receives a retail or consumer credit only if a positive credit rating is available. This also means that there are no negative credit bureau entries.
The credit bureau is negative for many Germans and a large part of the people is affected without their own or bad payment behavior. Even if the triggers have long since been eliminated, the negative credit bureau entries are retained for a long time, making the search for loans much more difficult. Then there is a loan without credit bureau, but where and under what conditions can and does it make sense? and there are also situations in which this form of credit is advisable and reasonable.
Nevertheless, every creditor seeking a negative credit bureau entry should think through his financial situation exactly. Is he really able to handle the new loan or will the other monthly charges push him even more into debt? There may be some way to borrow private capital. Possibly, the housing bank also gives a necessary credit increase or loan consolidation despite the negative credit bureau?
If borrowers opt for the loan without credit bureau, they will find many offers today, especially on the net. Unfortunately, there are many small and large flocks of sheep, but there are also serious occasions. Most of them are loan brokers who issue such loans through foreign banks (often Swiss banks). Due to the increased credit risk for the lender, they are almost always at higher interest rates than the usual installment loan at credit bureau.
This form of credit is usually not available at domestic credit institutions. Of course, foreign credit institutions also check creditworthiness and almost always demand a verifiable fixed-interest or other security such as a house or a motor vehicle or at least a plausible repayment concept or a guarantor. Since the credit rating varies from lender to lender, it may pay off even after a rejection.