Anyone who decides to reschedule their debt despite the negative credit bureau is often faced with a major problem because most German banks reject such financing. But the rescheduling of a summary rate can significantly relax the debtor’s situation and improve his economic situation. However, current loans or over-indebtedness are also noted in most cases with a negative credit bureau entry.
For this reason, some banks offer rescheduling, despite credit bureau, as an alternative to the frequently chosen non-credit bureau loan, which in most cases is settled through a foreign investor.
Especially with current loans or the complete exhaustion of the Dispos rescheduling makes sense, because especially in this case, the interest rates rise quickly in unmanageable areas and let the eradication move into more and more distant.
However, the rescheduling is worthwhile even with installment loans. Namely, if you want to reduce interest rates or shorten the term.
In some cases, banks grant rescheduling despite credit bureau, where a so-called credit bureau-free loan is offered. However, this is tied to a certain credit rating for the rescheduling, which is checked when applying. This includes not only the personal data, but also the income situation.
Of course, as banks are aware that a loan without credit bureau is taken up in most cases because of a lack of creditworthiness, the interest rates are not only much higher, but also the amount of the loan amount less. Already before application, it should be calculated exactly whether in this case a rescheduling pays off.
What to do if rejected?
Anyone who refuses to restructure their bank despite credit bureau should look around the internet for so-called credit intermediaries. Here, loans are offered without credit bureau, which can then be used for rescheduling of legacies. It often accesses large Swiss banks, which make it easier to obtain such credit from other credit check systems.
But also on the internet:
Be sure to inform before concluding such a contract. If the credit intermediary requires a cost note before concluding the loan agreement, you should definitely keep your hands off it. Reputable brokers never ask the clientele for advance payment, but instead receive a commission from the bank after successfully arranging the loan agreement, which ranges between 2% and 4% of the financing amount.
Use help from credit intermediaries?
In a rescheduling despite credit bureau on a credit intermediary, not only accounts for the preliminary discussion with the bank, but also the personal appearance at the conclusion of the contract. All required information and required documents will be sent either online or by post. As a rule, it is sufficient for a credit bureau-free loan to be of legal age and to be resident in Germany. Instead of the credit bureauabfrage here a proof of income is required. These can be payroll or current approval notices.
After successful examination, the money is usually paid within 24 hours to a German bank account, or can be picked up in cash at a bank counter, and then replace the other liabilities.
Before the rescheduling but you should inform yourself exactly about the current liabilities. Here, not only the transfer criteria, but also the possibility of special repayment should be discussed. Anyone who chooses to reschedule despite credit bureau, and thus a new loan agreement, should however ensure in any case that the rescheduling brings clear benefits and economic relief. This means lower interest rates, a shorter term, special repayments that can be made at any time and of course manageable rates that fit the overall financial situation. Here you can also turn to a debt counselor to be sure to make a wise decision.
5 tips for rescheduling despite credit bureau
1. Bundle debts
When rescheduling old money claims, relatives and friends can often help. The advantage is that all the debts can be bundled into one package. However, it should be noted that the claims should be recorded in a private loan agreement. Should it come later to disagreements, everything is regulated in a credit agreement. The good thing about a private loan is that it may be waived on interest payments, because relatives and friends like to help here. They often know history and fate well. A person can also unintentionally get a credit bureau entry if, for example, he gets into a debt trap through a divorce. If he can no longer settle the debt then all that remains for him is the path to private insolvency.
2. Use personal loans
Another possibility is offered by so-called private platforms. Here the borrower can exactly imagine his project. It is also good when he describes his exact circumstances and describes exactly why he has become noticeable in the credit bureau. This allows lenders to get a better picture of the borrower. So the borrower has a good chance to get a loan here as well. Collateral such as a car or other valuables is helpful. This also helps to get a loan. Another possibility is to start a donation call for the project to be used. It may well be that many people here are willing to donate a small amount to help those. The donation call is spread via the social media.
3. Foreign banks
Even foreign banks give loans for debt restructuring. The advantage of this is that they have no access to the credit bureau. Thus, they can not see all the entries. It is all the more important for these banks that the borrower has collateral. If it then comes to a payment default, so the bank at least the collateral, so it does not come to a total loss of the loan. The link between borrowers and foreign banks often creates financial intermediaries. However, interest rates on foreign loans are higher, as the risk of default is higher here.
4. Credit comparison despite credit bureau
In some cases, even a comparison portal can help to get a favorable rescheduling despite credit bureau. However, the same companies are not always listed in a comparison portal. Because of this, several comparison portals should always be examined more closely. Reasons for not being listed are manifold. One reason may be that you have to pay a certain amount for each new customer. Another reason could be that they do not want to compare themselves directly with others and prefer to advertise themselves.
5. Bring securities
In all cases it is important to describe exactly his current situation and to explain why he has a credit bureau entry. If the person still has collateral, such as a property or a car, it may be that even a bank lends a loan despite credit bureau entry. However, here the interest rates are much higher than a normal loan. In case of doubt, a citizen is needed, who continues to serve the credit in the event of insolvency and thus provides the necessary security. The citizen should, however, really be able to rely on the borrower.
More and more consumers in Germany depend on a loan. In some cases, new acquisitions or investments are financed through a loan. Often, however, bank customers would like to repay their existing loans or the existing discretionary credit. In the course of the rescheduling then usually the credit bureau is checked.
If it is flawless, the new loan can be forgiven. However, if the credit bureau has negative characteristics, borrowers get a problem and the rescheduling is rejected. For these consumers, then only a rescheduling comes despite credit bureau into consideration. The following article explains what exactly the rescheduling is despite credit bureau. Furthermore, it explains how exactly the borrowing takes place despite credit bureau.
What is meant by the rescheduling despite credit bureau?
The rescheduling despite credit bureau is an ordinary borrowing. Existing loans or disposition loans are combined into a new loan. Subsequently, the borrower pays back only a single loan. The existing loans are simply rescheduled. The rescheduling despite credit bureau now comes a little peculiarity. In this form of lending, the credit bureau is not checked. The credit bureau is usually retrieved before each borrowing. If there are negative entries, we reject the rescheduling. However, this is not the case with the rescheduling despite credit bureau. Even customers with negative credit bureau can easily get a debt rescheduling loan.
Who can take the loan despite credit bureau?
The credit despite credit bureau can basically be taken up by any customer. He is not subject to any restrictions. The only requirement for admission is that applicants have enough income to repay the loan. The rescheduling despite credit bureau is suitable for consumers who have negative entries in the credit bureau and get no credit from banks. It should be noted, however, that despite credit bureau, the loan is not significantly different from a normal loan. There is also an examination of the material and personal creditworthiness of this loan. Only the credit bureau remains outside
How is the loan granted despite credit bureau?
The local banks check the credit bureau before each lending, which is why it is not possible to borrow a negative credit bureau from the house banks. However, there are many online banks that specialize in this form of lending. Interested consumers can conveniently apply for the loan from credit bureau on the internet at these banks. For this, they must specify the desired loan amount and rate or term. Furthermore, personal information and economic circumstances are required. To the economic conditions the wealth and income situation is counted. Subsequently, the loan application is checked by the respective online bank. This ensures that the applicant can repay the loan. If the result of the credit check is positive, the documents will be sent for signature. After signing, the rescheduling is carried out despite credit bureau. The loan is paid out so that the existing loans can be repaid with the money.
What should consumers look for when not using credit bureau?
The loan without credit bureau is very attractive at first glance. People with negative credit bureau can easily repost their existing loans and thus save money. However, there are some aspects that consumers should consider before taking.
Loans despite credit bureau usually represent a higher risk for banks. The banks offset this risk by demanding higher interest rates. The interest rates between the individual banks sometimes differ very clearly. Therefore, interested parties should necessarily compare different banks before applying. Not every loan offer is lucrative or cheap.
Furthermore, some banks demand collateral for the loan despite credit bureau. This can be a surety or life insurance. In principle, there is nothing to prevent additional collateral for non-credit bureau loans, but in such a case the interest rate should be lower as the bank balances the higher risk with a collateral.