A “loan without Credit bureau”, as the name suggests, is a loan that can also be obtained with a negative Credit bureau entry. No Credit bureau information is obtained here, as is customary for lending. In some cases, such a loan is even possible, even with a negative Credit bureau, for pensioners, for Good Finance recipients or for the self-employed.
At Credit bureau, negative information can come about very quickly. If the wages have not been booked in time and payment difficulties have arisen as a result. However, this is only an example, there can be many reasons for this. The negative entry then remains for three years, even though the matter has long been corrected.
Nevertheless, a loan can be granted, because a loan without Credit bureau can still be obtained. Even with a bad Credit bureau, there is nothing in the way of a loan, the Credit bureau is neither queried nor is the new loan reported.
A loan without Credit bureau is of course only possible if all conditions are met. Proof of income has to be submitted and if financial obligations already exist, these questions should also be answered honestly. However, this is not a bullying, it also serves your own safety. Because the loan has to be paid back. The repayment rate must be received on time and it must not restrict the rest of your life. Those affected must not be bad. But even the rate is adjusted to the circumstances and the amount always remains the same. So everyone has their finances under control and doesn’t get into financial difficulties.
Anyone can apply for a loan without Credit bureau, but mostly people who do n’t get any more money from the house bank do it. A loan without a Credit bureau query is often the last chance, what should people do if, for example, a repair on the car is due. The washing machine can also break down and if there are small children in the household, this quickly becomes a problem. But it does not necessarily have to be an emergency, the credit is at your free disposal and you can of course also buy furniture or other items.
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There are no special forms of this financing and this loan can also be refused. There are many pitfalls that must be eliminated. In any case, the borrower must remain honest, that is to say clearly and openly about his financial situation. Of course, the repayment must be guaranteed, the income and expenditure are compared.
If you have a bad Credit bureau entry, you can still apply for a loan without Credit bureau. Because even if the house bank refuses any loan, a loan without Credit bureau can be the salvation. A bad credit rating does not automatically mean that the loan cannot be repaid. Many banks have now adjusted to this fact and are granting loans without a credit check.
Donors are also foreign banks and private individuals who do not consider creditworthiness as the only aspect. They are willing to take risks and are unlikely to be disappointed in the rarest of cases.
Interest rates are certainly somewhat higher for such loans, as credit institutions also bear a higher risk. But this difference is hardly noticeable, the interest can be compared to a “normal” bank loan. Years ago, the interest rate was much higher than today and there is no longer any need to make advance payments.
Advance costs are generally not payable, and a fee is only payable once the loan has been approved and paid out. But even this is not to be paid by the borrower, the bank has to bear all costs.
Unfortunately, there are always black sheep in the financial sector who only want to enrich themselves from the lack of money. Nothing has to be paid in advance, which is not common in the industry and also not real. However, there are always fraudsters on the move who charge upfront costs, but the loan will probably never be paid out.
Insurance is not linked to lending either, an insurance contract should always be concluded voluntarily.
At a reputable credit institution, no condition is ever attached to the payment of the loan. If an insurance is also offered, then you can assume a dubious money broker. You have to be warned about dubious providers, financial problems can also be solved seriously.
Taking out a loan without Credit bureau is often the last chance to get any money at all. But even people without financial problems can take out this loan, it is only marginally more expensive than a loan from the bank. But there are huge advantages to this, so that even the spouse does not have to be initiated and there is no fear of an annoying representative visit.
In addition, the loan can be taken out very discretely, because the money does not necessarily have to be transferred to the checking account. A cash payment can also be requested and then the postman brings the money. Of course, advice can take place, experts know their way around and are available at any time.