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Installment Loans

How to apply for installment loans?

In most cases, an installment loan is a bank loan that is provided for a fixed term, at a fixed interest rate, without collateral (for loans that private individuals grant to each other – for example, in a family circle – one also speaks of installment loans or so- called personal loans).

Some banks require the GFI letter as security for an installment loan, which was used, for example, to buy a car. However, installment loans are generally granted without collateral and for free use.

What can an installment loan be used for?

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Installment loans can generally be taken out for free use and are not earmarked (such as mortgage lending). You can buy a new car with an installment loan (usually even cheaper than with the financing offer of the car dealer, because you can then act as a cash payer and negotiate corresponding discounts).

But also the purchase of new furniture, the modernization of your apartment or the rescheduling and consolidation of several existing installment loans (including overdraft compensation) into a cheaper installment loan are common reasons for taking out an installment loan.

Who can get an installment loan?

Who can get an installment loan?

As with any loan, banks also check personal creditworthiness and creditworthiness for an installment loan (if loans have been properly repaid in the past, this is a positive feature that can be seen in the financial standing information).

Personal creditworthiness refers to the ability to raise the regular repayment of the installment loan and the interest payments from your own income (taking into account existing payment obligations).

Who does n’t get an installment loan?

It becomes more difficult for a borrower if he can not prove that he has sufficient income of his own, because this is a prerequisite for the approval of an installment loan.

Schoolchildren, students, trainees and the unemployed do not receive conventional installment loans because they generally do not have a sizable income.

Even those who have received a negative financial standing entry in the past due to irregular loan payments or arrears, also find it difficult to get a conventional installment loan from a bank. However, there are providers that specialize in such credit solutions.

Those who already have a negative financial standing entry can use our cooperation partner Good Finance. Here, many with a negative financial standing entry still get loans on acceptable terms – without financial standing.

Is there also installment credit for the self-employed?

Is there also installment credit for the self-employed?

Clearly: yes! There are also installment loans for the self-employed. Only the credit check is a bit more complex. The last two financial statements, income tax assessments and bank statements from the last four to five weeks are required.

If the creditworthiness is sufficient, there are banks that also provide installment loans to self-employed borrowers. We have such banks in our online comparison.

What security is required for an installment loan?

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As a rule, banks do not require additional collateral for installment loans, as described above (a salary assignment is included in the loan agreements as standard). At most, with a car loan, individual institutes still require the GFI letter to be sent today. However, many banks are now doing without it.

How long is the term of an installment loan?

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Usual short-term terms for installment loans are 12 to 48 months. However, most installment loans are extended with a longer term of 72, 84 to 96 months due to the associated lower rate.

But there are also long-term installment loans with a term of 120, 144 or 180 months. But only a few banks provide such long-term loans, which limits the choice of possible banking partners.

The most extensive comparison options for installment loans exist with a term of 72, 84 or 96 months. Almost all banks cover this maturity range and therefore there are most offers.

Click here for a free online loan comparison.

What is the interest rate for a cheap installment loan?

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The conditions for cheap installment loans depend on the creditworthiness of most banks and are calculated according to the amount of income and existing payment obligations. Nevertheless, many installment loan terms in the range of 3.70% to 8.90% can be described as favorable.

Those who present a higher default risk for the bank as a borrower will only receive offers with appropriate interest premiums, which can still be better than not receiving an installment loan at all.

However, some regional branches also offer their customers significantly higher interest rates of up to 13 and 15 percent. So it is worth comparing here before closing.

Where can I get a cheap installment loan?

Where can I get a cheap installment loan?

Online comparisons provide the quickest overview of cheap installment loans. With our free installment loan online comparison, you can compare the conditions of up to ten banks directly and apply for your loan directly. We then switch on and check your request. Incidentally, you will not incur any costs even if a loan request should be rejected in individual cases.

You can start the free installment loan online comparison directly here and have all options for a cheap installment loan checked risk-free by entering your data.

Self-Employed Loan for Debt Restructuring

Taking out a loan for the self-employed for rescheduling may be very difficult, because the creditworthiness of the self-employed is very bad due to the loan that is already running (or even the loans that are already running), which is why further borrowing, even if it is to be used for debt restructuring, is very difficult becomes. To make matters worse for the prospective borrower, the self-employed person with his uncertain and variable income is not necessarily one of the ideal candidates from the bank’s point of view for borrowing, because unlike employees, workers or civil servants, the bank can do a lot for a self-employed person planning worse, which is why longer terms are usually avoided.

Creditworthiness of the self-employed

Creditworthiness of the self-employed

However, if a loan for the self-employed is required for debt rescheduling, the loan amount is often relatively numbered due to the aspect of debt rescheduling, which is why a short term is hardly possible if you as a borrower do not want to pay huge monthly installments over a short period of time. However, since income as a self-employed person can disappear completely at any time, namely if your own company gets into trouble or simply no longer receives orders, banks hardly have any understandable planning security for evaluating the creditworthiness. A self-employed person who is currently still earning very well can hardly have an income relevant to the credit due to changed market conditions and an entrepreneurial imbalance, almost a week later. In order to convince the bank of the suitability for a loan, continuity is particularly important for the self-employed.

Put self-employment in a framework

Put self-employment in a framework

Income, with a view to the amount, is not actually the problem for most self-employed people, it is much more important that the income is simply not always at the same level. It is therefore worthwhile for the loan for self-employed to reschedule debt if the self-employed activity has been carried out successfully and with continuity for several years. This also gives the bank a certain amount of trust towards a borrower, which in turn can lead to the release of a loan. It is also worth telling the bank openly that the loan will be used to reschedule other loans.

The bank at least knows that this is not another consumer loan, but the borrower is trying to reduce his own costs for the current loans. Although this is by no means a guarantee that the loan for self-employed persons will actually be issued for debt rescheduling, persons affected should try it first. The use of a non-binding and free loan calculator, which also directly shows the acceptance rates of the individual lenders, is useful for finding cheap loans. This enables self-employed people who already know about their somewhat shaky creditworthiness to search specifically for providers with a high acceptance rate.

Instant loan without private credit checker in 24 hours payment

Instant credit without private credit checker – with 24 hours payment

Instant credit without private credit checker - with 24 hours payment

private credit checker-free loans are among the most advertised loan offers. Credit brokers behind the ads do everything they can to attract attention. Some exaggerations are still acceptable, but the limit of good taste is often crossed. The advertising message – instant credit without private credit checker – with a 24-hour payment – contains two tangible advertising ducks.

First of all, there can be no instant credit without private credit checker. A real instant loan is always a loan with a good credit rating. The good creditworthiness allows the credit check in a simplified procedure. In the simplified credit check procedure, the creditworthiness is determined exclusively by the clean private credit checker and the good score. The procedure is of course not possible without private credit checker. The advertising for the “instant loan” is still forgivable. It can also happen quickly without private credit checker.

The more misleading claim is that a payment without private credit checker would be possible within 24 hours. Apart from a pawn shop, no commercial loan provider offers a loan payment “without private credit checker” in just 24 hours.

Who grants legal private credit checker-free loans?

Who grants legal private credit checker-free loans?

As far as is known, Best credit company from Liechtenstein has been the only legal provider of private credit checker-free loans to Germany since 2010. The credit bank does not offer an instant loan or a loan payment within 24 hours of the application. Only the cash payment option is promised. According to the bank’s statements, there are no special regulations for credit intermediaries.

The question arises, what sense does it make to advertise an instant loan without private credit checker – with a 24-hour payment – if there is no such loan offer?

Unfair credit providers would be possible

Unfair credit providers would be possible

The possible reasons for this can only be guessed at. It would be conceivable that the credit broker would not like to earn his money with the credit brokerage but with other commission transactions. Selling savings and insurance contracts “… to improve credit opportunities …” is particularly often the reason for advertising. In connection with an online loan application, a data trader could also try to get the data of people with private credit checker problems.

Scoring companies, which are increasingly taking over the credit check for online shops, are of course interested in legally obtained data records. The loan prospect automatically grants consent to the disclosure of the data at the end of the online application. Thanks to the online application, the unfair provider doesn’t even have to bother to enter the data himself. This is what the prospective customer does for him. The whole thing is not forbidden, hardly anyone reads the terms and conditions, the data sale could be approved without being noticed.

How long does it take to get paid?

How long does it take to get paid?

Nobody can give a serious figure of how long it actually takes until a private credit checker-free loan actually arrives in the account. Only that an immediate loan without private credit checker, which can be paid out in 24 hours, is impossible. If customer voices are to be believed, then direct application is the guarantee for the fastest loan payment. The majority of the bank’s credit customers, who reported a short waiting period, made the application directly. According to the unconfirmed forums, the shortest stated waiting time until payment was made was seven working days. However, the longest waiting time in the same forum was six weeks.

Another indication speaks for the truthfulness of the information. A valid application can only be made by post. A letter from Germany to Liechtenstein takes at least two days, according to the Post. However, some forum participants also reported on letter delivery times of six working days. No matter which number is correct, an instant loan without private credit checker, which is paid out in 24 hours, is impossible in this way.

Conclusion instant loan without private credit checker

Conclusion instant loan without private credit checker

private credit checker-free loans cannot be checked using the simplified procedure, and the applicant’s creditworthiness requirements are missing. An almost instant loan without private credit checker is advertised by credit intermediaries. The detour via the intermediary is guaranteed not to save time.

As far as is known, the only legal credit provider, there are no special rules for borrowers who apply through an intermediary. The final exposure of the advertising duck is provided by letter mail. The application for an instant loan without private credit checker, which is paid out in 24 hours, needs at least 48 hours before it is received by the recipient. The 24 hour deadline then passed a long time ago.

Trial Loan insufficient credit security

The desire for a loan during the trial period can turn the loan search into a gauntlet run. With some background knowledge, unnecessary loan cancellations can be avoided. The amount illuminates options for the loan despite the trial period.

Loan in the probationary period

Loan in the probationary period

From the perspective of many people, the new job is a professional challenge and an opportunity for the future. The financial constraints of unemployment are finally a thing of the past. After a sometimes long period of refraining from consuming, the desire for a loan is understandable. With the new perspectives in the job, long-delayed investments can finally be tackled. Most have no worries about being able to repay the loan.

After just a few weeks in the company, the feeling grows that the requirements of the new job can be mastered safely. With a view to the first pay slip, a loan for the renovation or the necessary renewal of the vehicle would finally be possible. The rates appear to be affordable, and necessary investments should no longer have to wait. An opportunity for a normal loan is severely limited with the trial period.

The loan officer is unfortunately not allowed to fully share the euphoria about the new job. He must keep an eye on credit security. During the trial period, which usually lasts six months, the earned income cannot be classified as safe. Depending on the contract concluded, the termination of the employment relationship is possible without problems within 14 days.

When are there credit opportunities despite a trial period?

When are there credit opportunities despite a trial period?

There are only a few promising credit options under your own steam. A loan can easily be granted after the trial period. If you don’t want to wait that long, you can ask a solvent guarantor for help. Ultimately, he bears the liability risk through the loan guarantee.

As an alternative to a guarantee, real assets can also make the credit risk acceptable for the financial institution. The assignment of a capital-forming life insurance policy can be used for many purposes. The loan request of many providers can now be fulfilled in the amount of the surrender value.

If it is only a matter of a smaller loan request, interim financing via the current account can be a way out. Giro overdrafts are easier to grant than an installment loan. With this credit option, however, the high overdraft interest should be considered. More than one interim financing may never take place through the overdraft facility. There is also a real risk of being terminated during the trial period. In this case, the self-established debt trap snaps shut.

Personal credit – a modern way out of the credit crunch

Personal credit - a modern way out of the credit crunch

Help with finding a loan could be provided on a professional level by a loan broker. Unfortunately, this way out of the credit crunch is not necessarily cheap. Interest rate offers are often marked with risk premiums. The alternative through one of the portals for private lending could make more favorable conditions possible.

A loan during the trial period can come from private donors. The business with private lending is only comparable to a limited extent with commercial money lending. Investors’ credit decisions still have human traits. If the legal framework is complicated by bank regulations, the lender will be restricted in his decision.

Borrowing money is an important part of social life

Would you like to borrow money? Discover the 10 best sources of credit to fulfill your desires or to escape financial difficulties. You will also be presented with sources of money that you may not have thought of.

Lending money – covering individual financing needs

Lending money - covering individual financing needs

The borrowed money makes it possible to fulfill wishes that would not be or are difficult to afford from current income. Most can only afford a house because it was initially mortgaged. Even the chic fleet that parks in front of many front doors is only possible thanks to a loan.

Money is not only borrowed for large projects. Many a holiday tan – at the last minute price – is thanks to the overdraft facility. The offer could only be taken advantage of because the quick credit solution provided financial flexibility. Everyday life can also be made more pleasant if the solvency remains constant. Otherwise, especially at the end of the month, the shopping spree and even the Sunday roast would fall victim to the red pencil.

There are endless reasons for wanting to borrow money from time to time. However, the sources from which appropriate funding can come are limited. In addition, not everyone is able to access all types of financing. Borrowing money is always linked to personal creditworthiness.

10 sources of money at a glance:

10 sources of money at a glance:

Regular loan offers

  • The house bank offers the overdraft facility and installment loans
  • Direct banks primarily allow cheap installment loans and instant loans
  • Mail order and department store loans finance purchasing

Establish quick liquidity

  • Vexcash enables quick credit solutions for small credit needs
  • The employer loan offers an interest-free way to borrow money
  • Pawnbrokers lend money without Credit Bureau and without personal creditworthiness

Credit in difficult cases

  • Credit intermediaries, such as LIte Lender, pave the way for special offers
  • Friends and credit portals – like Capital Lender – make it possible to borrow money privately
  • Credit without Credit Bureau (credit bank loan)
  • A private foreign loan is also possible without Credit Bureau, but it is risky

Finance quickly and cheaply – address the right donors

Who is the right contact person for individual money needs depends on the creditworthiness, the financing amount and many other criteria. Loans that are particularly quickly available are often particularly expensive. The overdraft facility may serve as an example of how quickly expensive can often be. When balancing the dispos quickly, a regular credit facility offers a credit option that fully meets customer requirements.

Instant loans from a direct bank are easy to apply for. The financing offers can be found easily by comparing loans. It hardly takes more than five minutes to fill out an online application form. The credit institution’s examination program makes a preliminary decision in real time. The borrowed money is freely available. An incoming payment on the checking account can usually be expected within a week.

Despatch can be realized at mail order and department stores without having to take cash in hand. A mail order company finances the purchase. The advantage of borrowing money from mail order and department stores is the unproblematic handling and often low interest rates. In order to take advantage of the financing offers, only normal creditworthiness and a secure working income are required.

Fast liquidity – meet urgent money needs

It is not always crucial to take out an installment loan with low interest rates and a long repayment period. Often, an unexpectedly high bill goes beyond a family’s financial budget. The unexpected need for money could be repaid within a very short time, only now is it difficult to pay the bill.

With good and normal creditworthiness, the overdraft facility offers an expensive but convenient way out of the impending payment difficulty. However, if the overdraft limit has already been exhausted or the creditworthiness is poor, many find it difficult to meet the unexpected cash requirements. Borrowing money privately, tapping into sources of money among friends is difficult for most people. It is more than uncomfortable when close friends are asked about money.

In the event of a one-time emergency, for example the wallet is left at home, everyone is happy to help out. However, if money is borrowed more often, the friends quickly withdraw. Everyone plans with their own budget. Nobody wants to have to help others financially at all times. Refusing credit to friends is difficult. In order to avoid this situation, the contact often breaks off.

Vexcash’s loan offering reaches precisely this target group. Small sums can be borrowed quickly and easily. Vexcash offers with its offer to lend money, the optimal addition to the overdraft facility. If the credit rating is poor, the micro short-term loan can even be a good alternative to overdraft facility.

Installment loan – ways out of financing difficulties

Installment loan - ways out of financing difficulties

A credit broker doesn’t lend money himself, and brokers don’t always have the best reputation. Nevertheless, the help of a reputable broker can make it easier to borrow money in difficult credit situations. Only the contacts of the intermediary to special providers enable an installment loan, even if there are no credit opportunities at the house bank. Established intermediaries, such as LIte Lender, can address around 20 possible sources of money, at home and abroad, to the financing request.

The best-known way to borrow money through an intermediary is Swiss credit or credit without Credit Bureau. It plays no role in the credit check. Proof of creditworthiness is provided via labor income and the public debt register.

Borrowing money is also possible privately without frightening your friends. Renowned credit portals, such as Capital Lender, make it easier to contact private investors. A private loan, applied for through a reputable credit portal, offers many advantages. It is not only Credit Bureau’s credit rating that decides whether to grant credit, private investors also lend their money to their own standards. It is possible to borrow money privately, even under difficult conditions, at market interest rates.

Loan for self-employed under 2 years old

A loan for the self-employed under 2 years after the establishment of the company is possible with a certain amount of bureaucratic effort. How it works particularly low interest rates, more on this in the article.

Loan for self-employed people under 2 years after starting up a business

Loan for self-employed people under 2 years after starting up a business

Start-ups may be inexperienced, but they are bursting with energy. Once the good business idea has been found, it is fresh to work. Most prefer to start small. First of all, try whether it really works with independence. The chaff separates from the wheat at the latest in the second year of independence. A really good business idea that is now beginning to materialize.

Instead of red numbers, as in the first year, the Lite lender shows a steep upward trend. Anyone who hopes for immediate support from the credit institutions, simply goes to the bank with the Lite lender, will often be disappointed. Nobody would like to grant a loan for self-employed people under 2 years after the foundation. The first year income tax return cannot provide security for lending. The numbers are probably still red. The bank employee is probably not allowed to rely solely on the Lite lender, as an indicator of the idea of ‚Äč‚Äčexpansion.

Non-cash collateral and, if possible, a surety are required for lending. Looking at the expected interest rates, even under these tough conditions, often questions the entire project.

Loan at Best Interest Rates 

Loan at Best Interest Rates - Use ERP Loans

The state credit institution for reconstruction (DLB) has programs not only for the direct establishment of a company. There are now well over 1000 different funding opportunities that can be used directly and indirectly by DLB. An example of this is hidden under the inconspicuous credit number 058. There it says that start-ups and freelancers can be supported with ERP capital.

One of the possible entry requirements is the consolidation of a young company. The foundation may only be no longer than three years ago. The desire for the loan for self-employed people under 2 years since the establishment of the company falls exactly in this period.

Looking at the 3.17 percent interest rate with a fixed interest rate for 10 years is almost reminiscent of equity. The total term of the loan of 15 years allows even large investments to be paid off in small steps. Collateral or a particularly good credit rating are not required for lending. Only 10 percent of the equity capital has to flow into the investment. You can apply for the loan from any commercial bank.

Create equity replacement for the DLB loan

Create equity replacement for the KfW loan

With a large investment, 10 percent equity appears to be a major hurdle for many. In the second year of self-employment, this money is not in everyone’s secret Swiss bank account. Nevertheless, the required equity could be taken out as a Swiss loan through a credit intermediary.

Another way to provide proof of equity can come from one of the portals for private lending. Good business ideas rarely fall on deaf ears with private donors. A loan for the self-employed under 2 years after the foundation can be approved by private individuals. Although slightly higher interest rates are required, this hardly plays a role in the context of the total investment that is now possible.

Debt loan – its importance.

Financing with a loan has been part of everyday life for many people for years and decades. Both on a large and on a small scale, there is the possibility of taking out a loan for debt restructuring. The main goal of the refinancing is to reorganize the existing liabilities and to take advantage of them.

Importance of refinancing

Importance of refinancing

With the taking out of a new loan for the purpose of refinancing, an existing or even several old loans are replaced. The purpose of refinancing is to take advantage of currently low interest rates and to improve the clarity of liabilities and repayments. In many cases, a new loan for debt restructuring has much better terms than existing ones. These include, for example, a favorable interest rate, low repayment rates and other terms.

With many different loans in particular, it can make sense to reschedule them to a single one. However, it is important to consider when debt restructuring is really effective. The effective interest rate at the time of the planned debt restructuring should be significantly lower than that of the old loans. It can be worth it for long-term overdrafts. For many people, they no longer belong to a period of bridging economic bottlenecks, but to everyday life.

Interest, which is often paid quarterly, is usually in the double-digit range and is often paid on a regular basis. If loans are in the phase of maturity, it is rather unfavorable to refinance them. Even if the interest rate level is seductively low, taking into account the total effort, including the costs involved, it can have a negative impact.

Advantages and disadvantages of debt restructuring

Advantages and disadvantages of debt restructuring

The replacement of existing old loans turns out to be a particular relief if they were concluded at a time of high interest rates. Possibly even without an interest rate adjustment clause in the loan agreement. The total interest burden of all old loans added together can be much easier in future with a loan for debt restructuring. Another advantage is cost control and the control of repayment obligations. Loans can be taken out on all occasions.

Whether it’s for quick shopping in a department store, withdrawing money from the bank, making planned purchases and vacation trips, or simply constantly charging your credit card. In addition to other loans, such as for training or home ownership, there are several regular repayments that can be difficult to manage and whose overview can be lost.

With a debt rescheduling loan, you may only have one payment date instead of several different ones. The contractual terms for a loan are easier to use than those for several different types. With advantageous credit terms for a new loan to replace other old loans, economic freedoms level off again.

Installment payments and interest charges are often lower. The option of saving may also make it possible to make special repayments that compensate for the loan more quickly. However, debt restructuring also has few disadvantages.

These relate in particular to the costs incurred, such as the processing and agency costs of the new loan, processing costs for the old loan (s) as well as a possible prepayment penalty and the conclusion of a new residual debt insurance. When checking the effectiveness of a new loan for debt restructuring, these possible costs should be taken into account.

The debt rescheduling of existing loans does away with permanent payment pressure and can eliminate financial bottlenecks. A new debt rescheduling loan is concluded and the existing one replaced. In principle, any loan can be rescheduled. Taking out a loan for debt rescheduling is usually an advantage if the terms and costs effectively match.

Credit for Private Education – educational plan

 

The loan for private training always pays off. Without a well-founded education and constant further education hardly a job can be kept permanently. The article provides more information on the various credit opportunities that make private involvement possible.

Credit for private education – public grants

Credit for private education - public grants

The demands in professional life are constantly increasing. Only qualified people are up to the challenge in the long term. Training is not only exhausting, but also expensive. The loan for private training is therefore sought. The right financing model cannot always be found right away. Repayments always have to be made, but local banks, direct providers from the Internet and public funds are offered.

Public funding includes the German state funding and the education loan.

Public funding includes the BAföG and the education loan.

Everyone knows the student German state funding, the application forms can be found on the website of the Federal Ministry of Education and Research. The education loan is more interesting and not so well known. The offer is aimed at advanced training. There are no problems with the crediting of the income of parents or life partner with the education loan. With flexible loan terms, for example the variable application amount 1000 – 7,200 USD, the loan offer can be tailored to the actual financing needs. The payment of the loan can be spread over up to 24 months. Payment rates of 100, 200 and 300 USD are to be agreed.

Irrespective of this, a one-time special payment of up to 3,600 USD can also be requested. This way, even a larger project, such as a semester abroad, can be conveniently financed. The loan application is submitted to best credit company. The money from the federal development bank is extremely inexpensive. The borrowing rate as of April 01, 2013 is 1.34 percent. There is also a lot of time for the obligation to repay. This has to be started with a four-year delay after the first payment rate. The minimum rate is 120 USD per month. In addition, special repayments can be made at any time or the loan can be redeemed early.

Further credit opportunities for training

Further credit opportunities for training

Many commercial banks offer credit opportunities that make it possible to concentrate on his education – his studies also focus. The savings banks, as the best known local credit institutions, offer the loan for private training in accordance with the requirements of the umbrella organization. The possible loan amount is within a range of 25,000 USD to 32,400 USD. The money is paid out over a period of up to six years. The monthly payment rates can be agreed between 250 and 800 USD. A repayment-free phase of 2 years is granted for professional orientation.

With a view to the interest rates, the loan comparison with the direct providers is still worthwhile. The savings bank loan is unfortunately equipped with variable interest rates and mostly the obligation to cover residual debt. At present, in a time of low key interest rates, up to 7.5 percent APR is due. Without fixed interest rates, the savings bank education loan can later become very expensive. The long repayment period of up to 10 years does not change this.

The loan comparison on the Internet pays off for credit for private training, as does the training itself.

Credit without credit bureau query

Which credit banks grant a loan without credit bureau query? Who offers the cheapest interest rates without credit bureau and what personal requirements must a borrower bring. We have summarized the answers to these questions and further information for you.

Which credit banks are eligible?

Which credit banks are eligible?

With a bad credit bureau, possibly an unfinished entry, the credit opportunities are poor on the German credit market. No serious German credit institution seems to accept the credit risk under these conditions. Prospective borrowers are now looking at a foreign loan. Foreign loans are mostly advertised by intermediaries. A loan without a credit bureau query is referred to as a Swiss loan or as credit bureau-free financing. Many people are guided by the term Swiss credit in particular when looking for a provider.

The logic suggests that Swiss credit banks are behind the advertising of credit intermediaries. Even an intensive search for a Swiss bank will no longer lead to success today. In 2009, a judge’s decision made sure that all providers withdrew from Switzerland. At that time, the most important loan provider of these special loans without credit bureau was prohibited from lending to borrowers from Germany. (Az. 8 C 2.09).

With Nice finance company, even smaller credit providers disappeared from the market. Their lending was also presumably not in compliance with the law. As far as is known, only since 2010, a new credit provider, legally credit bureaufree financing to Germans. All comprehensible loan offers in the credit brokerage sector relate exclusively to best credit company from Liechtenstein. The mediators’ battle for the cheapest credit bureau-free loan turns out to be shadow boxes.

Foreign credit without credit bureau query

Foreign credit without credit bureau query

In the advertising battle for the credit bureau-free loan, offers for almost every credit request can be tracked down. An instant loan without credit bureau or an express loan with payment in 24 hours is advertised. Apparently, personal creditworthiness doesn’t matter for a foreign loan without credit bureau. Extreme advertisements indicate credit opportunities even for ALG 2 recipients. Of course, nothing is promised in a legally binding manner. Such a promise would also be unsustainable.

The loan from Liechtenstein is neither offered as an instant loan nor as an emergency loan. Only the cash payment option is possible. (Additional costs at least 53 USD). In addition, there are even very clear requirements regarding the creditworthiness of the prospective customer. The first key point is the applicant’s employment subject to social security contributions. The employment relationship must exist for at least 12 months and must not be limited. (Exemption for time soldiers). In addition, an attachment of income or the transfer of the attachable income to a creditor would lead to the loan refusal.

The credit check, for a loan without credit bureau, also includes access to the public debt register. Financing, as is at least indirectly indicated in advertising, with EV or private bankruptcy is therefore excluded. For a loan without a credit bureau query, only those who are able to repay it securely and who can prove it without doubt are qualified.

Credit conditions – Liechtenstein loan direct application

Credit conditions - Liechtenstein loan direct application

The cheapest option to apply for a credit bureau-free loan is to apply directly to the lender. According to Sigma credit bank, there are no special conditions for credit intermediaries. Disadvantages of slower processing or poorer interest rates are therefore excluded. Only two fixed loan amounts are offered. A loan of USD 3,500 or a loan of USD 5,000 is possible. Both loan options are repaid in 40 equal monthly installments. Due to a payment break, right at the beginning, the term is 42 months.

For 3,500 USD credit without credit bureau query, the Liechtensteiner credit bank calculates 11.62 percent APR. The monthly installment amounts to an amount of $ 105.95, which adds up to a total repayment of $ 4,238. A prospective loan applicant can only qualify for this loan with a net income of 80 USD above the garnishment limit.

The income requirement is even higher for a credit bureau-free 5,000 USD loan. A single person without any maintenance obligations has to earn 1,600 USD per month. For comparison, for 3,500 USD, 1,130 USD must be proven under these conditions.

The effective annual interest rate for a 5,000 USD loan without credit bureau query is slightly cheaper. The credit bank calculates “only” 11.61 percent. 151.35 USD must be scheduled for this loan as monthly installments. A total of 6,054 USD has to be paid off for 5,000 USD.

All information about the loan without credit bureau query, as of November 16, 2013 more current interest information can be read from the provider side.