Take out a Credit Bureau Free Credit

 

Consumers predominantly look for a Credit Bureau-free loan if there are negative characteristics. The Credit Bureau-free loan also makes sense if the loan applicant plans further financing within six months, since more than one loan in six months leads to a deterioration in the credit rating by Credit Bureau and other credit agencies.

Take out a Credit Bureau-free loan in Germany

Take out a Credit Bureau-free loan in Germany

A Credit Bureau-free loan cannot be obtained in Germany from conventional financial institutions. The pawnbroker pays out the classic Credit Bureau-free loan because the security is provided via the pledge to be deposited. Borrowing in the pawnshop is associated with high interest rates and also requires possession of a temporarily disposable pledge.

Life insurance and private pension insurance can be borrowed from the insurer. The insurance loan can be processed as a Credit Bureau-free loan because the borrower’s payment claims serve as security. The loaning of Riester pensions and Rürup contracts is not sensible, as this is considered harmful use and leads to a loss of state subsidies or tax benefits.

Take out a Credit Bureau-free loan abroad

Take out a Credit Bureau-free loan abroad

The Swiss bank loan is the best-known Credit Bureau-free loan. The federal credit banks have no access to the data of the German credit protection system and therefore grant their loans without Credit Bureau.You make a credit check with the Swiss ZEK, which is comparable to Credit Bureau, but whose data set only contains information on domestic financial contracts. A Credit Bureau-free loan from Switzerland is not a foreign currency loan, but is processed entirely in Swiss Francs.

The loan is mainly limited to a loan amount of 3500 USD, at a few financial institutions to 5000 USD, and is paid out by almost all Swiss banks only to employees. Freelancers and the self-employed have a Credit Bureau-free loan from a small number of Swiss credit banks. If loan seekers do not meet all the conditions for a loan directly from a financial institution without Credit Bureau, they can contact a credit broker. The service provider can also arrange credit requests for more than 5000 USD to a Swiss bank.

Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.

 

Instant loan with guarantor – loan paid out within two bank working days

An instant loan is usually referred to as a loan paid out within two bank working days; if a guarantor is provided, the processing time can be extended due to the necessary examination of his economic circumstances. A guarantor is responsible for the loan repayment if the actual loan customer becomes insolvent.

The actual legal form of the guarantee only comes into force after an unsuccessful enforcement, but banks almost always require the joint and several guarantee. This enables them to access the guarantor as soon as the borrower becomes insolvent. If the guarantor is actually used for an instant loan with guarantors, the guarantor is entitled to repayment of the money paid against the borrower.

The demands on the guarantor

The demands on the guarantor

When financial institutions issue an instant loan with guarantors, they have to place far more stringent requirements on the economic situation of the guarantor than on the credit rating of the credit customer. The bank also ensures that the guarantor is aware of the importance of a guarantee given. Without this check or in the event of a noticeably excessive demand, courts will declare guarantees given upon application to be invalid.

There are lower claims to the economic power of the guarantor if the applicant applies for an instant loan with a guarantor, which, according to the guarantee contract, must only arise in the event of death. Such guarantees are particularly widespread in lending to senior citizens and are often covered by the value of the inheritance.

Not all financial institutions publish offers for instant loans with guarantors

Not all financial institutions publish offers for instant loans with guarantors

Their website does not always show that a financial institution issues an instant loan with a guarantor. Many banks only point out the possibility of resubmitting the loan application with a guarantor if they initially reject a desired loan because of bad Credit Bureau entries or because the income of the loan seeker is too low. In most cases, borrowers choose relatives or good friends as guarantors. There is also no automatic guarantee between spouses; instead, mutual engagement applies to liabilities that a spouse has incurred for the cost of living together.