Loans without Credit bureau are often in demand. If you are interested in this type of loan, you have to consider some facts so that an application can actually be processed successfully. Evidence of alternative collateral is one of these factors.
Foreign loans are always Credit bureau-free loans
You Credit bureau does not have the best image. It is considered a data collector who, among other things, has the power to undermine the creditworthiness of a private individual. The fact is, however, that this association is consulted by every German bank when it comes to whether a potential borrower really gets the loan he wants. Anyone who has an above-average negative Credit bureau has virtually no chance nationwide to obtain a loan from a bank.
So-called Good lender loans were able to establish themselves as an interesting alternative. Since the lenders concerned are located abroad, usually in Switzerland, this variant of the loans does not require Credit bureau access. However, this practice does not mean that the borrower does not have to prove creditworthiness for such loans. In this regard, the respective institutions based abroad rather use alternative, but nevertheless generally recognized elements of credit protection.
One of the main roles is to prove that the income situation is at least satisfactory. Specifically, the successful payment of a loan without Credit bureau is based on the existence of a regular income with a fixed and permanent employment relationship. If there are other large assets, such as real estate, there is nothing standing in the way of drawing on a Good lender loan.
Credit bureau-free loans are no alternative for the unemployed!
Conversely, unemployed or low-wage earners should not be advised against a creditless loan. Serious providers of such Good lender loans already indicate the conditions under which their loan offer can be used.
For those affected, such business conduct is by no means a bully. The banks are more concerned that they do not want to drive their customers into a hopeless debt trap. Because once the installments for a loan can no longer be repaid, there is usually no quick or inexpensive way out of it.
An interesting alternative in the area of loans for the unemployed or other groups of people who have less than average money at their disposal is simply the payment options that are often offered by department stores and / or mail order companies. These loans are based on the fact that the purchased goods also represent the security of the respective loan.