Serious credit without Credit Bureau – is there such a thing?

Loans without Credit Bureau, for many consumers these financial products are still automatically dubious. A few years ago, this may still have been the case, but nowadays the statement “credit without Credit Bureau” cannot be automatically associated with a lack of seriousness. http://www.hotelsjodhpur.com/bad-credit-business-startup-loans-small-business-loans-with-bad-credit-history/ for a critique

Credit without school – what is it?

Credit without school - what is it?

In Germany, the procedure is very well known. Regardless of whether it is a cell phone contract or a loan. Nothing works without a Credit Bureau query. Thanks to this institution, there is either green or red light. Because a negative Credit Bureau automatically means that the required credit is not approved or, for example, the cell phone contract is not concluded. A weak credit rating automatically means higher interest rates when lending than with a borrower whose Credit Bureau file is sparkling white.

In other countries, however, something like a Credit Bureau is not known at all. For example, credit without Credit Bureau is also known, for example, under the name “Swiss credit”. When you request a loan from Switzerland, there is no entry in Credit Bureau.

Loan at negative credit bureau

Loan at negative credit bureau

Obviously, it can be assumed that every applicant who does not receive a credit here due to a negative Credit Bureau file simply tries it through a Swiss financial service provider. Although there is no Credit Bureau in Switzerland, certain conditions must also be met with a Swiss loan, such as:

  • The applicant’s place of residence must be in Germany
  • The applicant must have reached the age of 18
  • Proof of salary from self-employed or non-self-employed work must be provided. Low earners are not necessarily rejected here
  • If assignment of salary is not possible or is not sufficient, the applicant must provide security
  • The self-employed also have to provide collateral

Credit without school- Possible for pensioners, unemployed and students.

Credit without school- Possible for pensioners, unemployed and students.

A credit without Credit Bureau is usually also available for unemployed, housewives and Social Welfare recipients, according to Fine Bank. Since in these cases an assignment of the salary is not possible, security must be provided in return. This can be, for example, a land charge (if property is available) or the vehicle letter. Retirees and students also have good chances of getting a loan without Credit Bureau at many Swiss loan providers.

In which case does a loan withou credit check and credit bureau mean.

In which case does a loan withou credit check and credit bureau mean.

Not every customer who chooses a Swiss loan has a poor or even negative credit rating. Many people who take out such a loan simply do not want to weaken their creditworthiness with a financial liability and therefore prefer to take out a loan from Switzerland.

Such a loan is not recommendable at all if the banks refuse because of the already large payment obligations. In this case, contacting debt counseling is more appropriate than taking out another loan.

How do you process?

How do you process?

In this case too, applications can be made easily and conveniently from your home computer. The application is subjected to a standardized examination. This is followed by an online acceptance. The intermediary then takes action and starts looking for a suitable donor. The loan amount is then paid either by bank transfer or in cash, by post. In Switzerland, discretion is still very important in this area. For this reason, the monthly installments do not necessarily have to be paid via bank transfer, but can also be paid in cash at the bank counter.

If you choose a loan from Switzerland, you should pay attention to the reliability of the provider. Dubious providers often unmask that there are any costs involved in advance. In addition, the loan request is often accompanied by a home savings contract or life insurance.

Serious providers, on the other hand, are financed solely by the commissions paid by the respective bank. Furthermore, commission payment is only made if a contract has also been concluded. Since the interest rates at Swiss banks are quite different, a comparison of providers is worthwhile.

Private loans possible without school?

Private loans possible without school?

Since the reputation of many savings banks and banks has suffered massively in recent years, the possibility of credit from private became increasingly interesting for many people. And not only for people who would not get a loan from a bank anyway, but also for those who have a very good credit rating. In the meantime, there are some platforms on the Internet that enable private loans. The respective portal only acts as an intermediary between the lender and the loan seeker.

However, a Credit Bureau check is always carried out on such portals. But here usually only customers who have very hard entries in the Credit Bureau are rejected, such as bankruptcy. The interest rate is higher with this form of lending because the increased default risk is factored in at the same time. Nevertheless, there are enough interested parties and investors who prefer this type of lending.

Credit without credit bureau – a conclusion.

Credit without credit bureau - a conclusion.

Even if the prejudice persists, loans without Credit Bureau cannot be classified as dubious in principle. In the meantime there are numerous brokers who have worked here extremely professionally and seriously for years. And so also give people with poor credit ratings a real chance of a loan. But even if it sounds so simple and easy, the applicants have to fulfill some requirements for a loan without Credit Bureau.