Loan despite negative credit rating

Loan despite negative credit rating

A negative Credit Bureau means that there is at least one negative characteristic due to a gross breach of contract. Consumers mainly base their creditworthiness on the Credit Bureau information, in fact this also includes other data relevant to credit security, such as the amount and regularity of income and job security.

Borrowing with negative Credit Bureau in Germany

Borrowing with negative Credit Bureau in Germany

It is easiest to take out a loan in the pawnshop despite the negative credit rating and credit rating, since only the deposit to be deposited serves as collateral for the loan. However, the pawnshop loan is only suitable for small amounts and requires ownership of a sufficiently valuable pledge. Insurance companies offer an alternative by lending to existing supplementary pension contracts and life insurance policies. You can grant the desired loan despite a negative credit rating and credit rating, since the policyholder is liable for the loan repayment with his own payment claims against the insurer.

However, this procedure is not suitable for Riester pensions and Rürup contracts, since their loaning leads to a recovery of the tax benefits and allowances granted by the state. A loan can also be taken out via a bank and a website for private loan brokerage despite poor credit rating and creditworthiness, since not all credit institutions classify a negative entry as a reason for refusing credit in every case. Many private lenders even consciously orient themselves on social criteria and draw up a loan request despite a negative reputation and poor creditworthiness, precisely because the applicant is difficult to obtain a loan from conventional financial institutions.

Borrowing in Switzerland

Borrowing in Switzerland

In addition to a German financial institution and a domestic personal loan, a loan can be taken out in Switzerland despite negative credit rating and creditworthiness, since the banks there can not make any inquiries about the German credit protection. A prerequisite for successful borrowing in Switzerland is that the poor creditworthiness relates to negative entries at Credit Bureau and other German credit agencies, while the loan seeker’s working income must be significantly higher than when applying for a loan in Switzerland.

In addition, the Swiss financial institutions only evaluate the income from their main job as such, while ignoring secondary income and even child benefits. If loan seekers receive too little work income for direct borrowing from a Swiss bank, they can still apply for a loan through a credit broker despite negative creditworthiness and creditworthiness, taking care that the latter only charges a reasonable success fee and no upfront costs.