According to the definition of credit protection, a negative Credit bureau contains at least one open negative characteristic. Most consumers and some banks also find Credit bureau information with a completed negative entry to be bad, even if Credit bureau itself classifies it as neutral.
Borrowing despite the negative Credit bureau
Many consumers believe that an application for a negative Credit bureau loan would definitely be rejected. This is not necessarily the case, because various financial institutions check each individual case and agree to grant a loan in the event of poor Credit bureau if the applicant’s financial situation has improved noticeably in the meantime. Another way to get a loan with bad Credit bureau information is to provide a guarantor or borrow with another applicant.
Since credit institutions have to make significantly higher demands on the creditworthiness of the supporter than in the case of a joint loan application, they often prefer to apply jointly. If consumers have credit lines granted before the negative Credit bureau entry was forfeited, they can use them again at any time.
A new request will only be made in exceptional cases or if the customer requests an increase in the credit line. In addition to classic banks, a negative Credit bureau loan can be taken out via private loan brokerage websites. For social reasons, the investors working there as lenders largely prefer credit requests from people to whom banks are reluctant to grant a loan.
Borrowing without Credit bureau
In addition to a loan given in spite of the negative Credit bureau information, a loan with a negative Credit bureau can also be taken out with a bank loan without a credit rating request from the German credit protection agency. Appropriate loan offers are made by banks from Lidemer and Switzerland. You pay the corresponding loans in USD and not as foreign currency loans so that the borrower does not have to bear any exchange rate risk.
The creditworthiness of the banks that grant no loans is checked mainly on the basis of regular income, the amount of which must be greater than the exemption limit. In addition, they make an inquiry to the Lite lender , whose database, however, only includes loans taken out from federal banks. The loan amount for a federal, Credit bureau-free loan is limited to 3500 to 5000 USD, higher amounts can only be applied for through an intermediary.