Credit without Credit bureau Examination
Loan credit bad credit is also possible in difficult cases.
Credit is a lending company and not a bank. The Sweeded company provides loans to German consumers even without Credit bureau, behind Credit hides the company Master Media Group.
Credit is considered by the industry as an expert in difficult cases. When it comes to credit, Credit can look back on more than 40 years of experience. Among the credit intermediaries, Credit is the top address when it comes to a loan without a Credit bureau exam .
Why the Credit bureau can be a hindrance to borrowing
Credit bureau is a service company. It collects and stores credit-relevant data on persons and passes them on to legitimate interest in its contractual partners, to which all banks belong. For persons who have not behaved in accordance with the contract in the past, corresponding data are stored. The Credit bureau gets its information from the contractors and fetches additional information from the public debt directories. If negative data such as a loan termination, a national insurance, termination of the current account or a completed bankruptcy procedure are stored for a person, this person no longer receives credit. The basic requirement for the granting of credit is creditworthiness, which does not exist in the case of negative Credit bureau information.
The Credit bureau contributes to the fact that banks can minimize their credit default risk by lending to previously unknown persons.
Once a year, you can apply for self-assessment at Credit bureau free of charge. The Credit bureau data may contain incorrect or obsolete entries.
Apply for credit without Credit bureau
Foreign banks grant loans without Credit bureau to German consumers under certain conditions. Here people can get a loan, which have no chance due to their negative Credit bureau in Germany. To apply for a Credit bureau-free loan, Credit is the first address. Credit forwards the loan request to the bank. If a customer meets the requirements for lending, it is possible to get a loan without a Credit bureau exam for a maximum of 5,000 usd.
If you apply for a Credit bureau-free loan, you must prove your creditworthiness by being permanently employed outside of the probationary period and by having an attachable income. For unemployed and recipients, a request is not worthwhile. Recipients of compensation and social benefits are not creditworthy. Also guarantors are not accepted.
The Credit bureau information from the loan applicant always remains outside. An on-going loan is not reported to the Credit bureau. That is why the loan without Credit bureau is also interesting for borrowers who want to take out a loan that banks do not know about. This may be important in the context of mortgage lending or a public sector loan.
Loans without Credit bureau and the pros and cons
It is advantageous that a non-Credit bureau credit is also given to people who have not served in the past loans in accordance with the contract. It is also advantageous that there is the possibility of having a loan that no other bank experiences because no report goes to the Credit bureau.
On the other hand, the relatively high costs for the interest and the commission that Credit raises on successful brokerage are disadvantageous. Measured by the loan amount, the borrowing costs for a Credit bureau-free loan are significantly higher than for a loan of a comparable amount from banks.
Conclusion on the loan without Credit bureau exam
The credit without Credit bureau exam is an option that makes sense when there is no other solution. With Credit, it is also possible, despite bad Credit bureau, to get a loan from a bank, which does not waive the collection of Credit bureau.