Looking for a loan despite credit bureau

If you want to take out a loan in Germany, you have to make sure in advance that you are creditworthy. The creditworthiness is always given when the borrower is able to repay the loan in full and on the agreed date. Since the banks and savings banks cannot look into the heads of the borrowers, they measure their creditworthiness based on various conditions that must be met for borrowing. This includes a consistently positive Credit Bureau.

Now, however, there are more than 6.6 million adults in our beautiful country who cannot call such a consistently positive Credit Bureau their own. You have one or more negative Credit Bureau entries, all of which indicate that there were payment defaults. In the best case, these have already been removed and the Credit Bureau entry has not yet been deleted due to a period of two years. If they have not yet been eliminated, this means that the person concerned must currently have major financial problems that do not actually entitle them to take out a loan.

In spite of all this, many of those affected are looking for a loan despite Credit Bureau.They hope that the loan will remove the legacy issues and enable them to make targeted investments in a financially secure future. What sounds good at first glance, however, is not so easy to implement. Because the banks are not willing to grant a loan despite Credit Bureau.

The detour

The detour

Anyone who does not want to be satisfied with this and does not want to put the wish for a loan on hold despite Credit Bureau cannot avoid taking a longer detour to the loan despite Credit Bureau. Because the traditionally oriented banks cannot be changed in their opinion and adhere to their guidelines for lending.

However, if you can show a second co-applicant who takes out the loan together with the debtor despite Credit Bureau, you already have a much better position if you go into negotiations with the bank about the loan. If the second borrower is solvent and has a positive Credit Bureau, this is usually enough to be able to apply for the loan without any problems.

However, it is important that the second borrower is aware of his important task. He is fully liable for the loan and has to step in when the actual borrower can no longer service the loan. We therefore recommend that you select the second borrower or guarantor very carefully and tell him from the start what could be expected.

Take out a loan despite Credit Bureau

Take out a loan despite Credit Bureau

Another option for taking out a loan despite Credit Bureau can be found in a foreign loan. In most cases, this comes from the Lite Lender in Liechtenstein and is offered as a small loan of up to $ 5,000. The advantage lies in the fact that the loan can be taken out with a good income even without a second borrower. In addition, you do not have to travel to Liechtenstein for this, but can apply directly on the bank’s website. The Credit Bureau is not queried.

On the other hand, the loan is always limited to a maximum of 5,000 USD, requires a fixed income and a permanent residence in Germany and therefore comes with a higher interest rate than is the case with most installment loans from Germany. However, if you urgently need a loan, you will certainly be happy to take this hurdle.

Can Bank Credit be transferred?

Recently, it is very common for many people to borrow long-term in order to make purchases such as housing and cars. If the purchased house or vehicle needs to be sold and there is a mortgage application on the back of the loan debt, this raises the question of whether a bank loan can be transferred. Under these circumstances, banks look cold to the transfer of credit debt. But there may be different solutions to this problem. You can do this in a variety of ways, even if you don’t have the option to transfer your debt directly to another person.

Bank Credit Transfer

Bank Credit Transfer

 

Banks do not approve of decisions such as transferring credit directly to someone else. However, you may be able to use a debt settlement loan through a bank other than the one where you used the loan. In this case, you can close the existing mortgage or auto loan debts and cancel the current mortgage and make the sale.

Accordingly, you also have the opportunity to pay the debt of the loan you have obtained with the sale and the debt closing loan. Another meaning of the loan that you withdraw from another bank is the transfer of debts from bank to bank. The biggest factor that will affect banks’ approval of loan closure loan will be your credit score. The disadvantageous aspect of debt transfer will be an increase in debt with a rate of 20-25% as it increases the interest rate.

Other Transactions That Can Be Applied In Debt Transfer Transactions

Other Transactions That Can Be Applied In Debt Transfer Transactions

The person who will take over the loan must apply for a consumer loan with the same bank. He should make this application by stating that he wants to undertake your debt.

The person who will take over the debt may have the opportunity to close the debt by using credit with higher expenses and interests. However, as can be seen, this is not a complete transfer transaction and only allows the person to take over the loan at higher costs. Of course, in this transaction, research will be carried out regarding the credit score and income level of the person who will take over the debt.

Cancellation of Bank Credit

Cancellation of Bank Credit

If you have used a loan from a bank, you have the chance to cancel this loan as it is covered by the Consumer Laws. Under the law, this cancellation must be made within 14 days. Therefore, if you want a loan withdrawn, you have to make a cancellation request before the 14-day period expires.

If you give up the loan within 14 days using this right, then you may be reimbursed for the loan file costs paid. However, if you have lost the right to process this cancellation application, then you will not be able to reimburse your loan-based interest or file expenses.

If the Bank Credit Is Not Paid

If you are not able to cancel your loan through transactions such as loan transfer from banks or cancellation processes, then you are responsible for paying the debt within the specified installments. Banks are entitled to legal sanctions if these loans are not paid on time. First, if you delay your credit debt, your credit score will decrease. Then, foreclosure cases can be realized with the legal follow-up process.