Due to the overall economic situation, more and more people today have serious problems in meeting all payment obligations. One reason for this is surely the global financial crisis of 2008, the aftershock of which now seems to have an impact on the economic situation of numerous private consumers.
Incase unable to meet the payment obligations
As a result, personal bankruptcies have often occurred in recent years, during which private individuals were no longer able to meet their payment obligations on time. Due to this problem, many people – despite their own efforts to meet all payment claims – have received an entry in the Credit bureau directory.
Unfortunately, the negative entry in the Credit bureau directory usually goes hand in hand with considerable further financial impairments for those affected. So it is almost impossible for someone who is registered in the Credit bureau to get a loan from the bank.
This is primarily due to the fact that potential lenders assume that the applicant will remain insolvent due to the negative Credit bureau entry. Many of those affected are required to make considerable efforts to get a loan despite the Credit bureau entry.
If you are one of those affected and have made numerous unsuccessful attempts in the past to get a loan despite Credit bureau, this article may have some interesting information for you. Let me just say so much in advance: A loan despite Credit bureau is not an impossible thing!
Some banks grant loans despite Credit bureau
Even though most banks today are not willing to grant loans to people with a Credit bureau entry, there are some banks that turn a blind eye when they are entered in the Credit bureau or other debt registers. However, as an applicant for a loan, despite Credit bureau, you have to invest a little time and energy here to find these credit institutions. It is not uncommon for these to be banks that are based abroad.
In all likelihood, the reason for the willingness of these foreign credit companies to grant a loan despite Credit bureau is that these companies do not work with the German Credit bureau company and therefore take other factors into account when determining the creditworthiness of applicants, such as the amount of income or orient the existence of attachable capital values. However, you as the applicant should assume in advance that the examination measures to determine your creditworthiness depend on the amount of the loan amount you have applied for.