Loans without Credit Bureau information in comparison pay off, because a loan should always be compared in advance. This is the only way for borrowers to be sure that they are actually getting the best possible conditions and are not taking out an overpriced loan. Nevertheless, a comparison often requires a good credit rating, because this is the only way to actually draw from the full.
Low-income? Take out a loan
If you have a very low income or want to take out a loan without Credit Bureau information directly because of a negative Credit Bureau, you have to be satisfied with credit institutions that also provide borrowers with a poorer credit rating with a loan. Loans without Credit Bureau are quite possible, and many direct banks in Germany now do without asking the borrower’s Credit Bureau. In return, however, it should be possible to prove the corresponding amount of income so that the borrower continues to have sufficient creditworthiness.
Loans without Credit Bureau information in comparison also reveal a number of alternatives, because a loan without Credit Bureau is not only possible via the conventional banking channels. Swiss banks can also be considered as lenders because they always refrain from asking Credit Bureau and a possible negative entry is therefore irrelevant. Nevertheless, of course, these banks also have requirements, so that a fixed salary is required – even an employment as an official is ideal.
Still get a loan with negative Credit Bureau
The loans without Credit Bureau information in comparison also show that a loan without Credit Bureau is possible by private means. Here, a private person lends the necessary amount to another person under private law, a credit contract may be drawn up, in which all conditions and the agreed period for repayment are included. The advantage of these loans, if they are taken from friends and acquaintances, is that often no interest is charged.
The loan then does not serve to maximize the lender’s return, but as a friendly aid to the borrower who is in financial emergency. Such loans are therefore only possible if there are people in your own environment who are willing to lend a loan and have the financial means themselves.
A loan through banks is also possible if there are potential guarantors in the private environment who would be willing to provide a guarantee. Since the guarantee is associated with a high risk, it is usually only in the closer family circle of Bürgen. The guarantor is liable over the entire term of the loan for the loan amount including interest, i.e. for the entire debt of the borrower.