Month: May 2020

Banks also earn a lot of money from lending to customers. As a rule, lending is also possible without any problems if the customers are creditworthy. Loan seekers can prove their creditworthiness by, among other things, their regular income and permanent employment. These are ideal conditions to get a loan. In addition, the banks are asking for proper Credit Bureau information. If you don’t have them, German banks usually have a problem. German banks only grant a loan despite the poor Credit Bureau at no extra cost if the loan applicants can provide other collateral. As a rule, a guarantee is requested or the loan application is rejected.

If Credit Bureau receives negative information from the loan applicant, banks assume that the loan applicant will not pay the installments as agreed. The risk of default is too great.

The alternative – a loan despite negative Credit Bureau without any upfront costs

Private credit brokers offer their services online for the loan despite Credit Bureau without any upfront costs. Banks that lend a loan to consumers even with negative Credit Bureau are usually not based in Germany. The foreign banks only secure the loans via the attachable income of the borrowers, who must be able to prove permanent employment. In addition, the loan amount is capped.

A loan without Credit Bureau can be taken out for either an amount of 3,500 or 5,000 dollars. The credit must not be higher. When choosing the credit intermediary through which a loan is applied for, the preliminary costs are an issue. Reputable credit brokers provide credit despite Credit Bureau, without charging any upfront costs. For the consumer, this means that he has to make sure from the start that he only chooses an agent who does not charge any upfront costs.

Of course, the credit intermediaries are entitled to charge a commission for their mediation services. But only if a loan is actually brokered. It must be possible to request a loan despite Credit Bureau without any upfront costs. This is what consumers who do not get credit from German banks should pay attention to.

Unfortunately, not every loan seeker who applies for a loan without Credit Bureau actually gets a loan in the end. Many loan seekers fail because of the requirements that foreign banks place on consumers. But the order alone, which goes to the credit intermediary, shouldn’t cost anything. The agency commission is only payable if a binding loan agreement is concluded.

Make absolutely sure that the agent is serious

Before loan seekers turn to any credit broker who promises credit even in difficult or hopeless cases, they should do extensive research on the Internet to separate the wheat from the chaff. In particular, the credit intermediaries who promise credit for everyone are basically only aiming to rip off the loan seekers in one form or another. Only those who, despite Credit Bureau, provide credit without any upfront costs, work seriously.

The preliminary costs are not always recognizable as such. Many intermediaries have chargeable telephone hotlines, send worthless documents on delivery or expect customers to take out life insurance or home savings contracts in advance. In the end, all the examples mentioned are preliminary costs and should be avoided. Despite Credit Bureau, the loan is possible without any preliminary costs if the conditions are met. If the requirements are not met, the preliminary costs will not help either. Many loan seekers pay in advance and see no credit in the end.

Our conclusion

If the creditworthiness is there, it is no problem to get a bad Credit Bureau loan at no cost through a credit broker. However, this loan will always be slightly more expensive than comparable loans from German banks. In addition, in the end the agency fee has to be paid, which makes the loan more expensive. The commission is apportioned to the monthly installments, so there are no additional costs in advance.

A Credit Bureau-free loan is always the best option when Credit Bureau is bad if loan seekers have no guarantor or should not be charged to third parties. If you do not need a credit of more than 3,500 dollars, the loan is the best option, despite Credit Bureau, without any upfront costs from Switzerland.

For many consumers, what Swiss credit is without Credit Bureau information is like a book with seven seals. There are many rumors and half-truths about the subject, so we decided to dedicate a contribution to Swiss credit without Credit Bureau information. Interested consumers can learn everything that is important on the subject.

The Swiss loan without Credit Bureau information comes from abroad

There are no loans without Credit Bureau at banks and credit institutions operating in Germany. Loan seekers who are interested in a Credit Bureau-free loan should ideally contact a credit broker with their concerns. The credit intermediaries maintain regular contacts with banks abroad. This enables them to provide Credit Bureau-free loans to German loan seekers. Contrary to all expectations, not from Swiss banks. In connection with the financial crisis, the legislator has put an end to the brokering activities of Swiss banks in relation to Credit Bureaufree loans.

Since then, Swiss banks have not been allowed to grant Credit Bureau-free loans to German customers. In other words, the term “Swiss loan” has survived, but Swiss credit is no longer coming from Switzerland, but from Liechtenstein. Liechtenstein-based Fine Bank is the only foreign bank in German-speaking countries that has a license to provide Swiss credit without Credit Bureau information. It will probably remain that the Swiss loan refers to the loan without Credit Bureau, even if it no longer comes from Switzerland.

When is a Swiss loan without Credit Bureau information interesting?

Swiss credit without Credit Bureau is mostly in demand among consumers who do not get credit from German banks because of their negative Credit Bureau information, but urgently need a small loan. But the Liechtenstein Sigma Bank doesn’t give away any money either. No Credit Bureau information is obtained as part of the credit check, but the borrower must provide appropriate security. The Liechtensteiner Bank makes it a prerequisite that customers are able to demonstrate regular, seizable income.

In addition, a permanent position that has existed for at least one year is essential for the bank. However, a guarantee as additional security is not accepted. The offer of the Liechtensteiner Bank is explicitly aimed exclusively at persons who are in permanent and permanent employment. Neither unemployed and Hartz IV recipients get the loan without Credit Bureau, nor self-employed and freelancers or students and trainees. This shows how decimated the group of people who could get a Swiss loan without Credit Bureau information.

Details of the loan offer

The bank does not grant the loan in any amount. The loan amount is limited to either 3,500 dollars or 5,000 dollars. Credit Bureau-free loans are therefore only suitable for loan seekers who do not need more than a small loan. If you want to take out the best possible Credit Bureau-free loan, you should have various non-binding and free offers offered by various credit intermediaries.

In this way, the conditions can be compared, which can also be different due to the different amount of the commission. The commission is apportioned to the monthly installments and makes the loan even more expensive. The loan has a mandatory term of 42 months. The first two months are free of charge. This is followed by 40 monthly installments of around $ 100 with a loan of $ 3,500.

What is important to note?

Be careful and steer clear of credit intermediaries who promise non-Credit Bureau-free loans for everyone and who require the loan seeker to have upfront costs or expect loan seekers to take out life insurance or a building society contract first. Reputable providers do not charge upfront costs. They only ask for their commission if they have actually arranged a loan.

In contrast to the past, when the Swiss loan came from Switzerland, consumers today have the opportunity to apply for the Swiss loan without Credit Bureau directly online from Fine Bank in Liechtenstein.