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.
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
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.