Loan without Credit bureau Exam
Posted On March 29, 2020
The credit without Credit bureau examination has a long tradition. Nevertheless, the extensive loan offers are not getting old. The contribution summarizes for you what credit options exist even without a Credit bureau exam.
Credit without Credit bureau exam – credit requirements
The credit requirements for a loan without a Credit bureau examination can be summarized in a generally binding manner. Despite the long tradition of Swiss credit and extensive advertising by credit brokerage companies, the range is limited. The financial crisis and no less the political regulations in the context of the USD crisis are having an effect. In the past, credit providers from all over Europe offered a Credit bureau-free financing option for Germany. The loans came from Switzerland, Spain, Cyprus or even Ireland. Across the board, the serious loan offers today relate to a bank. All other credit providers had to give up. The offer came from Liechtenstein in December 2010.
The offer for a loan in which the Credit bureau examination and the Credit bureau entry are excluded is aimed at employees. A secure, permanent employment relationship is expected. The required documents therefore include the latest current pay slips and the bank statements of the past three months. The existing credit obligations and whether a garnishment of wages has to be given must also be specified.
The likelihood of getting the loan request fulfilled with an existing garnishment is extremely low. The loan is secured only through the assignment of future income. In the case of an already existing garnishment of wages, the bank, like all creditors, would have to be at the back.
A credit without Credit bureau is not a credit without a credit rating
Extreme advertising promises in particular often lead to irritation. The impression is given that a loan without a Credit bureau examination would be a loan in which the creditworthiness is irrelevant. That is wrong. The term credit rating describes a borrower’s economic ability and willingness to repay his debts. No one, except a charitable association, would lend money if it was clear from the start that he would not get it back.
Only the proof of creditworthiness does not have to come from Credit bureau for Credit bureau-free loan offers. The creditworthiness could alternatively be demonstrated by the income from work, a guarantor or the pledging of a high value. The formula to identify dubious offers is very simple. Only attachable income can prove creditworthiness. The attachability depends on the amount of income and the type of income. Social benefits from the state, such as Social Welfare, parental allowance or child benefit, are not attachable. There is no loan with this income – no matter what the advertising promises.
Loan amounts without Credit bureau examination – income requirements
Credit bureau-free loans are offered for two loan amounts. A loan of USD 3,500 is possible at an APR of 11.62 percent. Alternatively, 5,000 USD can be applied for at an annual percentage rate of 11.61 percent.
The income requirements are linked to the seizure allowance. For single people, a loan without Credit bureau (3,500 USD) is possible from a net income of at least 1,100 USD. For a loan without Credit bureau examination with a loan amount of 5,000 USD, a net income of at least 1,600 USD is required.