Financial Credit InstitutionsIn the case of a loan without information from a Credit Bureau agency, a commercial service provider grants a limited amount of credit to an applicant without the Credit Bureau being requested for the credit check. For the credit check and thus the creditworthiness of the borrower no information about his person or the Credit Bureau score are obtained.
Installment loans are also possible without Credit Bureau. Some providers have limited the loan without Credit Bureau in term, desire rate and especially loan amount. The special loan is also referred to as Credit Bureau-neutral and the loan request is always free and non-binding with reputable providers on the market. By contrast, banks in Germany are required by law to obtain the Credit Bureauauskunft for the granting of credit.
Querying Credit Bureau is mandatory in Germany by the legislator. And always when a loan application is made to a bank. The audit is intended to prevent financial damage to the banks or at least minimize the risk.
What is an instant loan without Credit Bureau?
The usually granted small loan without Credit Bureau is also referred to as instant loan. Instant loan because no fixed purpose is tied to the loan. The opposite would be an earmarked loan, such as home loan or car loan.
The non-fictitious installment loan is mostly used for the fulfillment of private wishes and repaid to the lender in previously agreed installments. In most cases, credit processing and loan disbursement are done in a very short time. The installment credit without Credit Bureau awarded in Germany, the so-called direct banks.
Is the loan application anonymous?
No, the anonymous application for a loan is unfortunately not possible. But a loan without Credit Bureauauskunft is strictly confidential, which means that neither the employer nor the house bank are informed about the loan.
This additional loan can be applied for by any employee over the age of 18 years. The offer of the loan without Credit Bureau is always personally addressed and is usually delivered by post or email.
What is the Credit Bureau?
Credit Bureau collects information about the creditworthiness of a borrower. It is the largest and most well-known credit reference agency in Germany and has emerged from the name of the former “protective association for negative information about one’s own person”.
The query at Credit Bureau is one of the basic components of every credit check in the banking industry. Negative Credit Bureau entries usually prevent the receipt of a conventional loan from a bank.
Credit despite Credit Bureau?
The credit without Credit Bureau is for all those who have a negative Credit Bureau entry or believe. Because often German citizens rate your credit rating incorrectly. Anyone who has insufficient creditworthiness in the Credit Bureau file can rely on a meaningful alternative with my loan without Credit Bureau information and a sufficient income. The Credit Bureau credit is therefore a conventional loan, which is not registered in the Credit Bureau.
Even with existing loan agreements?
If you already have existing loans, you should be open and honest when making your application. This helps the loan officer quickly to see if there is a possibility of a loan without Credit Bureau. In principle, the debt-free loan can also be granted with parallel loans.
The decisive factor in the application, however, the correct statement of all inputs and expenses, as well as the sum of the monthly charges. If the income covers this, nothing stands in the way of a loan.
Every full-year resident of Germany and a German bank account can apply for a Credit Bureau-free loan. Regular income and sufficient creditworthiness are also necessary. However, the credit rating for such a loan means that the applicant must have enough income to cover his regular expenses.
Whether an entry is in the Credit Bureau or the personal Credit Bureau score is negative, this type of instant loan without Credit Bureau is not checked by the lender.
How high is such a loan?
The individual direct banks, which have their headquarters outside Germany, enter the market with individual framework conditions. Are known providers with € 1,000 to 50,000 credit line. But each loan application is examined by the lender in detail and above all individually and checked for the available financial resources.
5 tips for fast credit without Credit Bureau
All data and documents ready
Keep all personal information ready when applying. This includes not only the contact details and the bank account, on which the money should go, but also the detailed inputs and outputs. The more precise you specify the sums, the easier it is for the loan officer to get an idea of your financial potential.
Therefore, make the revenue absolutely realistic to the expenditure before sending the application. This gives you an overview of your own financial scope before you submit your application.
Again and again, unpredictable events can occur that make it difficult or impossible to repay the debt-free loan. Always plan for a certain emergency buffer.
Get an overview of the conditions
Compare the loan conditions. The formerly known as Credit Bureau-free instant loan has now made the step out of the dark zone and has become socially acceptable. This has also led to horrendous loan fees, high interest rates and rogue home visits from the reputable market of Credit Bureau loans have disappeared.
As a result, you can count on an adjusted market and customer-friendly conditions. Let us advise you in detail. Every reputable company in the instant loan industry is interested in attracting as many good and satisfied customers as possible. Since the market is very transparent on the internet and the ratings of other customers are quickly shared on the net, you can see in the advice how reputable the company is.
A good adviser assesses the financial situation together with you. He wants to prevent in his own interest that you unnecessarily fall into the debt trap.
Avoid dubious offers
Always rely on reputable providers for a loan. Stay away from lock offers that promise a total of X without consulting and testing. A solid and proven company works according to defined processes and always transparent processes. You will never be asked for an advance and will never receive promises that are nowhere to be seen.
A provider who wants to give you a credit without Credit Bureau serious, will work without a fee, does not ask for risk surcharges or extra payments. In addition, you recognize the “right” providers that no other products, such as insurance, are offered in addition and clearly. Be critical, careful and get several offers.
Involve second applicant
A second borrower can be of great help with a loan without Credit Bureau. He provides with the support for better credit conditions, thereby increasing the likelihood of a release of the money. It also reduces the risk of default on direct payments. Many providers reward this with cheaper lending rates.
In this case, however, you should note that all borrowers are jointly and severally liable for the loan amount. If one borrower fails, the other person still has to repay the sum. It does not matter if the second person uses the financed items or items or has access to them. Suitable for this type of loan without Credit Bureau especially for married couples or within a family.
Realistically assess your own finances
Stay realistic and do not take over. Even if it sounds very tempting at first glance, even a loan without Credit Bureau query must be repaid. The duration and amount of the monthly repayment should therefore be considered carefully. The best way to determine the correct level of monthly loan installment is to get a clear idea of the income and spending in your household.
For example, if you come to the conclusion that you can repay € 300 a month for the loan without Credit Bureau, then please select a maximum of € 150 for the monthly repayment. This sum is, so to speak, the financial flexibility, if something comes in between.
Because if you do not have free money, it can cause serious problems. The unpaid installment loan rate will trigger additional fees on top of that.