There are consumers who rely on a credit intermediary to apply for a loan. The reason for this is the Credit Bureau: if there are negative entries, the banks generally cause difficulties and there is no loan approval. At the latest now, those affected are asking themselves what is Credit Bureau actually doing?
Protection association for general loan protection
The protection association for general credit protection, called Credit Bureau for short, stores all financially relevant data about every citizen. If there are payment defaults, canceled loans, dunning notices or the like, a corresponding negative entry is made. Affiliated banks, mail order companies or shops query these entries in the Credit Bureau before a loan contract or installment payment contract. This is how they want to protect themselves from payment defaults. With such a negative entry, it is almost hopeless to get a loan. Now only serious credit intermediaries without Credit Bureau can help.
How do you recognize a reputable credit broker?
A credit intermediary can broker a loan through a foreign bank. As a rule, these banks are based in Switzerland. It is not easy for the consumer to separate the wheat from the chaff, because there are also many dubious credit brokers on the market. These are relatively easy to recognize. If a financial service provider takes a prepayment in advance, then it is a dubious offer. Credit inquiries are always free of charge. Reputable credit intermediaries without Credit Bureau do not take any money in advance. They are only entitled to a commission from the borrower after a loan agreement has been concluded.
Why should a credit broker be consulted?
In order to save borrowers from having to travel to Switzerland, reputable credit intermediaries without Credit Bureau take care of all the formalities and pass them on to the bank in Switzerland after they have been checked. The payment is made from there, but a credit broker is turned on to save customers the travel routes and the associated travel and accommodation costs. With negative Credit Bureau information, this is the last hope for a loan.