Securing your credit with credit bureau through guarantors is not your only credit opportunity. In the interest of taking responsibility for your own actions, you should avoid the loan with a negative credit bureau.
We would like to give you more information on how you can take out a loan yourself without exposing others to the liability risk. If you can really afford your loan, there are alternatives.
It will not fail to finance with offers without guarantors. Reputable providers, such as the foreign bank that finances without credit bureau, reject the loan guarantee in the application conditions.
Credit despite credit bureau through guarantors – not the ideal solution
Across Europe, credit is only granted by commercial lenders (banks or other credit institutions) if it is considered secure. The nation states ensured that this is the case through international agreements that have long been implemented in national law. Securing credit in spite of credit bureau through guarantors would be the most convenient way for lenders to steal responsibility.
The lender is not only responsible for the money he lends. He is equally responsible for fair lending, as the increasing tightening of credit checks shows. A loan must not overwhelm the borrower. Despite paying the installments on time, he should be able to continue to make his living.
With the loan in spite of credit bureau by guarantors, this protection is eliminated by shifting risk to borrowers and co-workers. Co-applicants or a guarantor with his good credit rating would ensure that a loan is approved. Ultimately, he is solely liable, almost as if he had taken out the loan himself. Only the interest is significantly higher than with a good credit rating.
With a negative credit bureau – always without fellow travelers
A negative credit bureau information can be quite harmless. There was a vigorous phone call or surfing the net without a flat rate, the bill could not be paid immediately. She was “dead”. Only a negative credit bureau entry remained. Installment loan from regular banks would be excluded. – Because the score does not ask “why” or whether the debt has been paid.
For otherwise inconspicuous finances, the requirement of the credit provider to only grant credit despite credit bureau through guarantors would be inappropriate. In view of the fact that, apart from the paid entry, no credit risk is discernible, the bank can assume a solvent borrower. The guarantor would be superfluous and is not prescribed by fair-working credit institutions.
It should be clear to everyone that despite credit bureau, credit without a guarantor can only be approved if the minimum requirements for each loan are met. The minimum requirement is that only someone who can prove that they are able to repay in accordance with the contract receives credit. Anyone who cannot do this and therefore applies for a surety will become a disproportionate credit risk for the co-partner.
Usual credit requirements – despite credit bureau without guarantor
The basic requirements for credit approval despite credit bureau differ only in detail from the requirements that regular banks place. An unlimited employment contract outside of the trial period is required. The workplace must lead to income subject to social security contributions. There must be no seizures of income, assignment of income or EV.
The serious difference between the special offer and the regular bank loan is that no clean credit bureau is required. Behind the scenes, this means that it is not the score that decides on the approval, but the individual case examination. In principle, going into the individual case examination only means that the poor future forecast can be refuted by means of supporting documents.
What is checked in individual cases?
In the case of credit despite credit bureau through guarantors, the guarantor’s good credit rating provides the security for lending. In the individual case check, the loan officer looks at the submitted documents to prove that the loan has been secured. These are the income certificates and above all the bank statements. Nothing must be blackened in the excerpts, even if they are submitted in copy.
It is not just normal payment transactions that are checked, for example that there is no chargeback due to insufficient funds. Particular attention is also paid to what the applicant is spending his money on. The auditor does not want to see payments to collection agencies or excessive debits from credit cards. He wants to see that the applicant gets along with his money and reveals normal payment behavior.
If the prospective customer realizes that he does not meet these requirements, the loan must not be enforced by guarantors despite credit bureau. The above signs clearly demonstrate that the probability of a loan default is high. The loan guarantee would put the guarantor at serious risk of losing his creditworthiness himself.
Who grants serious loans despite credit bureau without guarantors?
Despite credit bureau, both a bank loan and a loan can come from private donors. Special banks would be accessible, of which there are about a handful in Germany through intermediaries. Despite credit bureau, the credit institutions do not usually advertise directly with the loan.
We recommend avoiding the loan with guarantors despite credit bureau and applying without a guarantor through Cream Bank. The offer and the good reputation of the company speak for the recommendation. Both a private loan and a bank loan can be approved via Cream bank despite credit bureau.