A loan is possible despite negative private credit, even if a weak credit rating makes borrowing much more difficult. As negative, most financial institutions also classify a negative entry marked as settled, which credit protection itself counts as neutral credit features.
With a few exceptions, private credit information without a negative feature is required for borrowing. When consumers forfeit one, they specifically apply for a loan from a financial institution, which pays them off, despite bad private credit.
The Swiss loan without private credit
Many consumers who require a loan despite negative private credit apply for one directly from a bank in Switzerland or Liechtenstein. The Swiss loan is actually awarded without a private credit request, so that any negative features remain hidden from the lender. As compensation for the non-obtainable credit rating information, he demands from the applicants a significantly higher minimum income than domestic financial institutions. At the same time, he not only calculates any additional income, but also tax-free allowances and the child benefit at the income determination relevant for the granting of the loan.
The settlement of the Swiss loan is entirely in Euro. Thus, there is no foreign currency risk for the borrower. The loan amount is limited to 3500 Euro or 5000 Euro for loans without private credit. In addition, most banks grant the private creditfreien credit only to employees, only a few Liechtenstein financial institutions accept freelancers and self-employed as a credit.
It is not possible to borrow more than one loan in Switzerland or Liechtenstein despite private credit in a timely manner. Although there is no routine request at the German private credit, but there is one in the Swiss credit protection. This results in an already running private credit-free loan. Higher amounts of credit than 5,000 euros can be borrowed without private credit only via a credit intermediary who asks for a loan from banks in different countries. If this is neither from a Euro country nor from Switzerland, settlement as a foreign currency loan is usual.
Borrowing despite negative private credit at a domestic bank
Most domestic banks actually rate a private credit negative entry as an exclusion criterion for lending. On the other hand, individual financial institutions expressly point out that they also consider any application for a loan with negative private credit. In this case, it is possible to obtain a loan for a single soft negative entry. Negative entries marked as done increase the number of banks eligible for lending.
The promotional loans of KfW Bank are a special feature, as they are also accessible in most programs with a private credit negative entry. For example, for the student loan and the educational loan, lending is excluded only for a registered personal bankruptcy, while all other private credit negative features do not affect lending. A prerequisite for applying for a KfW promotional loan is that the applicant meets the eligibility requirements, which is why the loan is only a few cases in question.
Experience has shown that it is easier to apply for a loan through a broker, despite a negative rating, than through a bank. Contributing to this is the expertise and the high demand for credit brokered by the credit intermediary. Creditors entrust a service provider with the credit intermediation, if this according to the legal regulations only a reasonable success commission and no pre-cost charges. As a side effect, the credit intermediary compares various loan offers and suggests its client a cheap bank loan.
Another way to obtain a bank loan with negative private credit is the joint borrowing with another applicant dar. This must be in addition to a private credit information without negative entry on a reliable income. The provision of a guarantor is possible in principle, but most banks prefer to apply for a joint loan together. The reason for this decision is the stringent requirements that courts tend to place on the effectiveness of a personal loan guarantee.
Specialized banks offer short-term loans for a maximum of four to eight weeks as a new type of loan offer. In part, they also grant this time-limited loan despite negative private credit, since a tight amount limit for new customers serves as collateral. Those who apply for a short-term loan for the first time often receive a maximum of € 500.00. This amount increases with every punctual repayment.
Borrowing with negative private credit off the banks
The classic way to take out a loan despite negative private credit is the loan house loan. This form of borrowing still exists, but due to the high cost and necessity of having a sufficiently valuable pawn, is suitable only for low amounts.
Existing customers generally receive a repayment as a restricted loan from a dealer, even though private credit is negative, and when a customer is reappointed, the assessment of the internal creditworthiness is more common than retrieving a private credit request. On the one hand, this takes into account only the payment behavior towards the specific provider, but on the other hand reveals every slight delay in payment.
In principle, a loan can be taken up via platforms for lending between private individuals, despite negative private credit. The operators of the personal loan platforms and the licensed full-service banks cooperating with them for legal reasons do not categorize a soft negative entry as a reason for refusal of membership as a borrower. However, lenders registered as lenders decide on actual lending. These accept to a large extent inquiries even with bad private credit of the loan-searching, whereby many the specified use serves as a central decision criterion.