Obtaining a loan despite Credit Bureau and poor creditworthiness is not easy. But what is creditworthiness? One can look at the creditworthiness with the synonym creditworthiness. Those who are creditworthy, i.e. whose creditworthiness is good, also have no problems obtaining a loan. These people include civil servants, for example. They have a secure job, are considered non-resignable, have an attractive salary and repay their loans on time. These people describe banks as creditworthy and also like to grant loans.
Without creditworthiness are people who have sworn affidavit, who have garnishment of wages or who are in private bankruptcy. The average consumer whose credit rating is in order is rated differently by banks. For example, one often finds higher interest rates than the stated good interest rate because interest rates are calculated depending on creditworthiness. The farther the calculated interest rate moves away from the meaningful, the worse the customer’s credit rating.
Once you are in the Credit Bureau with negative entries, you not only have problems with lending but you also no longer receive a new mobile phone contract, you can no longer conclude a rental contract. Even electricity providers can find out about a customer’s creditworthiness. But despite all the negative prospects, a loan can still be successful despite Credit Bureau and a poor Credit Bureau.
For these groups of people, the Credit Bureau-free loans come into question. The Credit Bureau is not queried and the credit is not entered. However, the creditworthiness is checked based on the income and any old debts. There are many advertising promises in the segment of Credit Bureau-free loans in particular. So loans are advertised with no income, with attachments, with bankruptcies, just everything that a reputable bank rejects from the outset.
The customer should know that this is a fairy tale that has no serious basis. A Credit Bureau-free loan requires a certain income and a permanent job. Only when the loan seeker can fulfill this will he be shortlisted for Credit Bureau-free loans. Everything else is not true. The loan seeker does not need to inquire at his house bank, they generally reject loans with a bad Credit Bureau.
On the way through the Internet there is no way around credit agencies that advertise this form of credit. They are to be understood as an intermediary between loan seekers and lenders. As working on a commission basis, which means that the commission can only be taken into account after the loan approval. Everything else is dubious. Likewise, the pressure to sign insurance contracts or consultancy contracts is not serious. A serious loan brokerage can do without this bells and whistles, which is also not permitted.
There are serious credit brokers who can still provide credit to customers with difficult credit conditions despite Credit Bureau and poor creditworthiness. A cheap provider can be found with a credit comparison. On the mediation side there is an application form in which the required data is simply entered and sent to the mediator for a first check.
The intermediary will then forward the loan request to a lender selected by him and the customer will often receive a preliminary loan approval within a few hours, even minutes. Regarding the loan despite Credit Bureau and poor creditworthiness, the customer should know that almost all loans come from a bank in Liechtenstein. This bank has been the market leader for Credit Bureau-free loans since 2010. It is also important to know that it is not the credit broker who gives the loan approval but the bank.
After the preliminary loan approval has been received, the customer can accept the offer. Then he has to fill this out and sign it and send it back to the agency with the necessary credit documents. This will check whether the documents are complete and request additional documents if necessary.
As documents are pay slips from the last three months, account statements from the same period, a copy of the employment contract, a small household bill where all income and expenses are listed. Other collateral can also be added. A co-applicant or guarantor can also be named. This will increase the credit chances and a loan can be approved despite poor credit and bad credit rating.
At Post, the postid – an identity check based on the identity card – must also be carried out and also sent to the agency with the creditworthiness documents. Once the bank has checked the documents, a loan commitment will be made, if necessary, with the subsequent instruction of the loan amount from the loan despite Credit Bureau and poor creditworthiness.
In order to receive a loan despite Credit Bureau and poor creditworthiness, the customer must have an income that is above the garnishment-free limit. A single would have to earn around 1,100 USD net to get a loan. The income must not be pledged, the customer must sign a corresponding attachment declaration. If there are any payment problems, the bank will initiate the attachment.
The bank does not take a look at Credit Bureau, but it does take a look at the public debt register. If there are bankruptcies, an oath of disclosure or foreclosures, the bank rejects the loan despite Credit Bureau and poor creditworthiness. A permanent job, which must have existed for at least one year, is very important, and the employment contract must not be pledged.
The bank will provide three loan amounts. One time 3,500 USD or 5,000 USD or 7,500 USD. For the 3,500 USD loan, a installment of 105.00 USD is due and an employment contract for one year, the 5,000 USD loan has a rate of 150.00 USD, the employment contract must exist for 36 months and the 7,500 USD has a rate of 225.00 USD, the employment contract has been here for four years.
The interest rate is around 11-12%, depending on the credit rating, it is also significantly higher. The loan terms are 40 months for all three loan amounts. The bank does not tolerate any deviations, either from the term or from the rate.
Unemployed, self-employed or Social Welfare recipients will usually not receive this form of credit. The unemployed and the Social Welfare beneficiary receive state benefits that may not be attached. The self-employed may earn well, but he does not have a stable income and this is important for a loan despite Credit Bureau and poor creditworthiness.
A recommendation for the loan seeker. Before applying for a loan, he should obtain free information from his Credit Bureau. There are often entries that could have been deleted long ago. The advantage of this is that the credit rating can recover, which can also make it much cheaper to lend.