Experience with credit bureau loans

The importance of credit bureau

The importance of credit bureau

“If you do not have a good credit, it will be difficult to get a loan,” is a practical experience many people have made. An important part of the credit check is the verification of the data stored in the credit bureau directory. If these figures show a negative result, commercial lenders will not agree to lending.

For this reason, the credit without credit bureau has been in great demand for a long time. With such a loan, people with negative information try to obtain the necessary debt capital.

credit bureau-free loans have been offered in Germany for decades, in the past primarily through advertisements in newspapers and currently mainly via the Internet. The providers are primarily credit agencies. Those who want to lend money without credit bureau information, but expect that the interest due usually higher than the market interest rate – this experience shows: Such a debt-free loan financing is the borrower in the best case expensive solution, in some cases they even just a cost trap. This experience must be repeated by consumers who want to use such funding.

“But why are the experiences made with such offers often negative in nature?”, Ask many interested parties regularly. The answer is not easy, but the situation needs to be differentiated. No provider grants loans to people who can not repay the borrowed money.

It should be remembered that a credit check not only involves obtaining information from credit bureau, but also implying that the lender balances the disposable income of the claimant with its expenses. If this part of the credit check is also negative, since the borrower earns too little, the lender must reject the award.

Negative information about credit bureau

Negative information about credit bureau

Experience shows that many people with negative information about credit bureau also have bad creditworthiness for other reasons. And to such applicants even a reputable credit intermediary can not arrange a credit bureaufreies loan. However, in the event of a refusal, the claimant should incur no costs, except for any outlay fees that may be due.

As the experience of credit without credit bureau but also show, in addition to reputable providers also those who work dubious and do not intend to make a serious loan brokerage, but only want to enrich their customers, some illegal. As a rule, such shopkeepers have their headquarters abroad, in order to make it difficult for the German judiciary to investigate them.

The tricks of such actors to get the money of their victims are manifold. Mainly, however, they try to convince the prospective loan-seeking party to pay advance costs. Often this is simply cheated by z. For example, it is alleged that the desired loan is approved and ready for disbursement. The borrower would now only have to pay bank or transfer fees in advance, and would, once that was done, get the loan.

After the payment of these costs has taken place, however, the customer does not receive the desired credit, but a brazen rejection for fictitious reasons. And his money is lost. Our tip: If you want to take out a loan without credit bureau, you should only contact German-based credit agencies that have the appropriate business license.