In Germany, no one gets a loan without asking Credit Bureau. With negative entries, it is difficult to get money from a bank. But it is also advertised with Credit Bureau-free loans. If you want to apply for a Credit Bureau-free loan, you should know a few things beforehand, because there are essential distinguishing features.
The difference is what matters
If you have problems with Credit Bureau, you may still be able to get a loan. However, this only works through financial service providers who work with a wide variety of banks. In these cases, the borrowers have to pay more interest, which is why the term “credit-related loan” is often used. It is important, however, what negative entries are reported to Credit Bureau. In the case of a notice of enforcement or enforcement or even seizure, an inquiry is futile.
Apply for a Credit Bureau-free loan
Real Credit Bureau-free loans, that is, in which no Credit Bureau is actually queried, can only be obtained through foreign banks. Most consumers are probably familiar with Swiss credit because it is often used to advertise. Credit Bureau does not play a role for banks abroad and they do not have access to them, which is why Credit Bureau is not notified when this loan is approved. Applying for a Credit Bureau-free loan is easy, because there are also financial service providers who take care of the mediation and the remaining formalities.
However, such a loan is limited to around 3,500 USD. Only when this is almost paid off can a new loan be applied for through Switzerland. A purpose is not questioned, so that it can also be used for debt rescheduling or to compensate for the overdrawn checking account. In order to get such a loan, the applicant must have a permanent employment relationship. The place of residence must be in Germany and the applicant must not be under the age of 18. A copy of the employment contract and a copy of the last three wages or salary slips are required as proof of the work.