Loan despite credit bureau entry with guarantors
If the Credit Bureau shows negative entries, banks behave very covered towards a loan request. The chances can increase if the loan seeker can name a guarantor. Before each loan, a bank will provide Credit Bureau information.
The information that Credit Bureau provides the bank is binding statements for the bank, as it shows the creditworthiness and payment behavior of the customer. If the Credit Bureau file has noted entries, the credit risk appears too great to the banks and reject the application. But there are other ways to apply for a loan with a guarantor despite Credit Bureau entry. Another option that can be used is the Swiss loan, which has been offered for more than 20 years.
The loan despite the Credit Bureau entry with guarantors
In this case, the credit solution is towards a foreign loan, primarily called a Swiss loan. Banks from Switzerland and for some time predominantly from Liechtenstein have been lending to German loans without Credit Bureau, however, as with German banks, these loans are also subject to conditions because not every applicant is predestined for a loan. This form of credit has some special features. First, the loan amount is limited. There are 3,500 USD and 5,000 USD depending on the creditworthiness.
If you need a higher loan amount, you can apply for the loan with a guarantor despite Credit Bureau entry. The guarantor can be sought in the family or friends. However, there should be a familiar relationship between the borrower and the guarantor, because a guarantee is not without. If a guarantor signs without worrying about a guarantee, she can drive him to financial ruin. Especially when it comes to a higher loan amount and the borrower can no longer pay the installments.
A guarantor is immediately taken into recourse by the bank and he has to pay the loan on his own obligations. Many do not manage that at all and in the end there is the financial disaster. The Federal Court of Justice has declared a guarantee not lawful, which financially drives a guarantor into ruin. The guarantor should also know that the guarantee is entered in his Credit Bureau, which in turn reduces his own credit rating. If he needs a loan himself, the guarantee will be included in the budget.
Only those who are really able to back up a guarantee when the worst comes to the worst can declare their willingness to sign a guarantee. A guarantor is rigorously checked by the bank with regard to his income, his employment and his Credit Bureau. Everything has to be flawless.
The Swiss loan
If the loan seeker is satisfied with the loan amounts offered by the Swiss banks, he can opt for a loan with a guarantor despite Credit Bureau entry. These loans are mostly offered by credit intermediaries. The customer only needs to fill out an online form and fill it with the relevant data. The loan application is then sent to the credit intermediary, who uses the data to check whether there is a credit option and sends the customer his loan offer. After that, the rest of the way is handled by post. The loan application must be signed and sent to the lender with the credit documents. If the latter has checked the data, the pledge is given despite the Credit Bureau entry with guarantors.
Anyone who decides on a Swiss loan should pay attention to the seriousness of the credit intermediary for a loan despite Credit Bureau entry with guarantors. There are black sheep among the intermediaries who, with dishonest practices, do not broker loans, but only want to pay fees. If you already receive an invoice with your loan offer, you should look for another credit broker. It is best for the loan seeker to make a loan comparison that lists the terms and conditions for a loan. This creates transparency and excludes dubious intermediaries from the outset.
The loan with guarantor
The conditions that a Swiss bank places on a loan despite a Credit Bureau entry with a guarantor are a regularly incoming and high income, a permanent job that has been in place for at least one year. In addition, the applicant must be of legal age and must not be older than 58 or 60 years old. The residence should be permanently in Germany.
Anyone who can show a guarantor can also ask their house bank for a loan with a guarantor despite Credit Bureau entry. If the guarantor has an excellent reputation, the house bank can also grant a loan. As security, he has a guarantor who is responsible for the loan.