It is not uncommon for Credit Bureau to tip the scales when it comes to whether a loan application is positive or negative. In the case of a negative Credit Bureau, all banks and savings banks based in Germany do not grant a loan. The borrower must therefore either see whether he will get a guarantee for the loan or whether he will take out the loan elsewhere. http://rigelgroupllc.com/quick-auto-loans-bad-credit-call-or-request-an-auto-car-loan-for-bad-credit-today/ has more information
Loans with bad credit are available, for example, as a foreign loan or as a personal loan. At this point, we have compiled a list of how you can go about choosing the right form of loan and what you should definitely look out for in such loan offers.
Why loans with bad Credit Bureau are not so easy
Banks and savings banks want collateral if they are to grant a loan. They see this security in the form of a good credit rating. You can only enjoy a loan if you have a good credit rating as a borrower. Otherwise you will not find a good loan offer in the classic way.
However, you can improve your credit rating by finding a guarantor for the loan. The guarantor would even make loans with bad Credit Bureau possible, provided the guarantor can show a positive Credit Bureau. Generally, the guarantor must be able to iron out the weaknesses in the creditworthiness that the borrower has.
If you do not have a guarantor, you will not get bad credit with a bank or savings bank in Germany. In such a case, you need to turn to other sources of money, which you can find in a personal loan or a foreign loan, among other things.
The personal loan
Loans with poor Credit Bureau are often given in the form of a personal loan. There is no bank behind such a loan, but private donors who want to increase their money by lending. Because even with a personal loan you have to pay interest. And not too short. You should plan between 9 and 15 percent. Depending on the offer and loan amount.
This interest is then the profit that the lenders obtain from the private loan. If you opt for a personal loan, please keep in mind that this is possible without Credit Bureau, but not without income. In addition, you should take a very close look at your private donor and not use any dubious offers. Anyone who asks you to pay in advance or takes out insurance as a prerequisite for borrowing is less interested in lending than in your money. Such offers usually aim only at taking money and not at granting a loan.
The foreign loan
It looks a little different with the foreign loan. It is also ideal for loans with bad credit and, as the name suggests, can only be taken up abroad. In this regard, Sigma Kreditbank is a pioneer and offers excellent loan offers for foreign customers.
You can easily contact the bank via the Internet. The bank offers a very clear website, which also provides all forms for borrowing. There you will also learn that only a small loan up to 5,000 USD is possible. But you get the money without asking Credit Bureau, you just have to have a fixed income and can freely dispose of the money.
Repayments will be made within 40 months, and you will only have to start repaying two months after borrowing. The interest rate is slightly above 11 percent, which is high, but is completely normal for such loan offers. A cash payment of the loan amount is not possible because the bank only transfers to a reference account.
If you do not get a loan in these ways, we recommend that you rethink your financial situation before expanding your loan efforts. It could be that you are currently not creditworthy and would put yourself in a very difficult financial situation with a loan. It is therefore better to wait a little bit until the conditions have improved and then look again for serious loan offers.