In Germany, in connection with taking out a loan, it is essential that the person’s Credit Bureau is obtained and assessed before the loan is approved. If the loan is concluded, the loan that has been paid out is then reported by the bank that is the contractual partner of Credit Bureau.
If borrowers fail to meet their payment obligations and the bank has to terminate the loan prematurely, a notification is also sent to Credit Bureau, as well as in the case of seized checking accounts, issued payment orders or misuse of credit cards. These negative entries mean that the person concerned is no longer creditworthy.
Loans without Credit Bureau information as a last resort
This is one reason why loans without Credit Bureau query are in demand. The only problem is, they don’t exist in Germany. Even at Lite Lender, where private investors lend money to loan seekers, there is an intermediary bank that checks the Credit Bureau of those who want to borrow money. That has to be the case, because the investors at Lite Lender want to earn from the interest.
Loans without Credit Bureau information can be obtained from credit intermediaries. They have enough to do with inquiries from people who want loans despite negative Credit Bureau entries. But it is still not so easy to get such a loan because it is not for everyone. Loans without Credit Bureau information are aimed at people who receive a regular income from a permanent position, ideally an official position. Loans without any Credit Bureau information are not available for the unemployed, recipients or housewives. Even for pensioners who actually have a secure income from their pension, there are narrow limits with regard to age.
No chance for the unemployed
Even if the advertising promises something different to some credit intermediaries or is advertised with slogans, we also help in particularly difficult cases. These are usually just empty promises. Dubious credit brokers want to sell everything but no loan without Credit Bureau information to people who have no credit rating. Therefore, the alarm bells should always go off, especially if a credit broker charges advance costs before a loan is even made.