Details about foreign loan broker.

It has happened to everyone before that it becomes financially tight. In such a case, the relatives or the circle of friends are usually happy to help out. However, for many it is not possible to ask friends or relatives for a corresponding amount of money. And a normal financial institution would immediately reject any loan application due to poor creditworthiness or a Credit Bureau entry. But that does not have to be the end of your financing wishes. What some do not know – even with poor creditworthiness and without Credit Bureau information, you can get a loan.

What needs to be considered with foreign credit intermediaries?

First of all, the monthly loan repayment installments should be as low as possible. You should only expect as much as you can actually carry. The key to good financing is good conditions and low interest rates. The loan should also be as adaptable as possible. This includes special repayments without additional costs or the possibility to stop paying the installments for one month. Good financing on the subject of foreign loan intermediaries should include all of this.

However, there are certain things you should take into account so that nothing is put in your way as a student, pensioner, self-employed, unemployed, trainee or employee:

1. Set the loan amount as low as possible

In general, anyone who has considered the issue of foreign loan intermediaries should realistically assess the costs incurred from the start. If you have an overview of your expenses in advance, you will not experience any nasty surprises afterwards and can always pay your installments on time. It would undoubtedly not be wrong to plan a small financial cushion, the emphasis being on “small”, because if this buffer is too large, this would inevitably lead to high liabilities. Therefore do not take out a loan larger than is necessary. The better solution is to supplement the under-calculated needs with follow-up or top-up financing.

2. Structure and oversee your own finances

The first thing about a project is that you assess your financial situation correctly and then calculate the amount of the loan. Ultimately, this also does not apply to the topic of foreign loan intermediaries. Here, for example, a detailed weekly list of all expenses helps: So every day it is noted exactly what and how much money has been spent. In order not to overlook any hidden costs, small amounts should also be taken into account, such as the morning coffee at the bakery or the after-work beer in the pub. It is an excellent way to determine where one or the other USD can possibly be saved. Regardless of this, such a list also helps to assess the correct repayment rate.

3. Value care and accuracy

It is important to be careful, accurate and honest with all information about your creditworthiness and your own financial situation – especially when it comes to foreign credit intermediaries, with all information about your financial situation and creditworthiness carefully, exactly and absolutely honest. You should take enough time to carefully compile all evidence and documents. The honest and complete presentation of your finances gives you a serious impression, which has a positive effect on your chances for an instant loan or an emergency loan.

A really good credit broker can do a lot for you

A really good credit broker can do a lot for you

The intermediary will primarily support you in your search for a “loan without Credit Bureau”. However, the help offered does not only extend to pure mediation. Sometimes it also includes in-depth debt counseling. A professional broker will advise you in detail on a financing offer by showing you the advantages and disadvantages. He will also support you in compiling all the necessary application documents.

Advantages or disadvantages of loan brokerage

Advantages or disadvantages of loan brokerage

Advantages:

  • Mediation of loans even with poor creditworthiness
  • Detailed advice before submitting the application
  • Assistance in compiling the documents for the loan application
  • Contacts with lesser known financial institutions and banks
  • Reasoning aid for large amounts of funding or difficult personal circumstances
  • Good chances of cheap loan interest
  • Procurement of credit even if the creditworthiness is insufficient

Disadvantage:

  • Risk of brokering expensive loans
  • Doubtful offers are not always immediately recognizable
  • Possible costs for the loan brokerage

Also worth reading is the small credit without Credit Bureau Auskunft article

Many intermediaries have good connections to small and less well-known institutions and therefore the opportunity to negotiate better conditions for foreign credit intermediaries. Even if a case has little chance of success, it can be negotiated. Because of their good connections, they can e.g. B. explain negative Credit Bureau entries so that they are not evaluated as much in the creditworthiness check as in the computer-controlled processes of large banks. If one would send such an inquiry about foreign credit intermediaries to an established bank, it would almost certainly not work.

What distinguishes serious from dubious credit intermediaries

A broker who is reputable is genuinely interested in helping you obtain a loan for a broker abroad. In general, you as the applicant do not incur any costs for his services because he receives his commission from the bank.

Reputable credit intermediaries can be recognized by the following points:

  • You will receive specific information about terms, debit and effective interest, and loan amount
  • There are no costs for arranging financing
  • The company has a website including imprint, address and contact options
  • The company can be reached by phone without having to wait a long time

A dubious mediator can be recognized by these criteria

  • Cost collection regardless of the conclusion of the loan contract, but only for advice
  • You are promised a hundred percent loan approval
  • Credit applications are sent cash on delivery
  • Offers in the form of a financial restructuring
  • Unregistered home visit
  • Financing depends on taking out insurance
  • Calculation of expenses or additional costs
  • The broker only takes action if you sign a brokerage contract

What advantages do foreign credit institutions have with foreign credit intermediaries?

What advantages do foreign credit institutions have with foreign credit intermediaries?

Whether for the new car, a longer holiday trip, a new smartphone or the start-up capital to start your own business – loans from foreign banks have long ceased to be a financing option that you have to shy away from. In addition to the classic route to the house bank on the corner, consumers now also have the option of taking out loans from foreign institutions via the Internet. What speaks for a credit institution abroad are the much simpler guidelines for lending compared to Germany.

Therefore, poor creditworthiness or a negative Credit Bureau entry when it comes to foreign loan intermediaries only play a secondary role. In principle, such online loans are financed by Infra banks. This fact is particularly interesting for those borrowers who need a financial injection particularly quickly and have already been rejected by Cream banks. That would be z. B. Temporary workers, pensioners, self-employed, students, unemployed or trainees. When it comes to foreign loan intermediaries, it is particularly difficult for this group to obtain a loan.

Why a Swiss loan is a good alternative

Individuals who want to take out a loan because they are in a financial emergency often find it difficult. The reason: The chances of financing are reduced significantly with debt or with poor creditworthiness. A Swiss loan can be a real option in such cases. It means a loan from a Infra bank. A negative Credit Bureau entry is irrelevant for these banks because there is basically no request for this, which makes it extremely easy to find a loan. This is ideal, especially when it comes to foreign loan intermediaries.

Obtaining a loan without checking the creditworthiness as well as various collateral and proof of income is clearly not possible with Swiss financial institutions either. However, if you have a fundamentally positive credit rating and a negative Credit Bureau entry is the only problem with financing, the Swiss loan represents a real opportunity for foreign loan intermediaries.

Foreign loan intermediary: how it works

If you are looking for a foreign loan broker online, that is, “despite moderate creditworthiness”, you are basically thinking of a “loan without Credit Bureau”. All renowned credit banks are now checking the applicant’s creditworthiness. Even if this is not done through the Credit Bureau, it will be done through another credit agency.

There is actually no one who is at home in Germany and has no score or entry at Credit Bureau. If you hold a credit card or if you have opened an account with the bank, such a credit rating has already been created for you. There is therefore no “credit without Credit Bureau” at any bank. What is there, however, is a “loan despite Credit Bureau entry”. Strangely enough, many consumers mistakenly think that they have a “negative Credit Bureau entry”, although the statistics show something completely different: the large part of the entries are positive

It is best to determine beforehand whether the Score Index is in fact so poor that it might be difficult to release your loan application at a bank. Once a year, Credit Bureau grants both companies and private individuals a free query of the “Credit Bureau Score”. In order to be able to find out for yourself what personal data is stored, you can obtain a so-called self-assessment from the credit reporting agency since 2010. According to the Federal Data Protection Act (BDSG) § 34, you are normally entitled to this information free of charge, once a year. To do this, you can mainly call up your personal score (Credit Bureauscore), but also get information about whether someone has made a request about you in the past few months. You can request this data from “MeineCredit Bureau” at any time. Your score depends on different “ratings”. These ratings can range from 1 to 100. 100 is the maximum value and shows that the probability of failure is extremely small. In contrast, the risk of payment problems is much more likely if a person only has a score index of 50.

Our tip: This is how you can “delete a negative Credit Bureau entry”

It has certainly happened to everyone that they have not paid a due invoice. The reasons for this are often different: You were currently in a financial bottleneck, had to move to a new address or were on vacation at the time. Sooner or later there may be problems with an unpaid mobile phone bill. It happens faster than you think. The result is that there is a negative Credit Bureau entry and it is difficult to get a loan afterwards. It therefore has an impact on the application for a loan if the reminders or even payment requests reduce the score.

However, every consumer has the right to have an unfavorable Credit Bureau entry eliminated for their protection. It may happen that the credit agency has still stored information that is either incorrect or very old and therefore no longer up to date. Logically, such entries should definitely be deleted immediately. The deletion can be ordered directly from the credit agency. However, the removal will only be carried out on the condition that the claim does not exceed USD 2,000 and was paid within six weeks.

Your data at Credit Bureau – deletion of Credit Bureau data

The Credit Bureau data is automatically eliminated after a certain period of time even without your intervention. This generally happens:

  • after 12 months for information about inquiries; This information is only passed on to Credit Bureau contract partners for ten days
  • for loans 3 years after the year of the complete repayment (exactly to the day) of the loan
  • for information about unpaid claims, each after a period of three full calendar years (that is, at the end of December 31 of the third calendar year that follows the entry)
  • in the case of claims from online shops or mail order companies, provided that these have now been resolved

The benefits of a Swiss loan

Individuals in a tight financial situation can often not take out a loan. It is the people with debts or bad credit who are in dire need of money. In such cases, the last option is a Swiss loan. This is to be understood as a loan that a Swiss financial service provider issues. Such banks generally do not conduct Credit Bureau queries, which of course simplifies the search for loans enormously. As far as foreign loan intermediaries are concerned, this is an invaluable asset.

Taking out a loan without a credit check as well as various collateral and proof of income is clearly not possible with Swiss financial service providers either. If it is only an entry in Credit Bureau that worries you, the Swiss loan could be a real opportunity for you, provided your credit rating is so far in the green.

What is the “APR”

With foreign credit intermediaries, due to the greater risk of default, the credit costs are sometimes somewhat higher than usual. The “effective annual interest rate” and “effective annual interest rate” in particular play an important role. What is the “annual percentage rate”? Here one understands the annual interest costs for loans, which are calculated over the nominal loan amount. As a percentage, it is always dependent on the payout. In the case of financing whose interest or other price-relevant criteria can change during the term of the loan, this interest rate is referred to as the initial “effective annual interest rate”

A tied debit interest rate is fixed when a loan is released for the entire term. This means that even if there are fluctuations in interest rates on the capital markets, the nominal interest rate on which the “loan” is based remains unaffected. The advantage here is that a fixed borrowing rate gives you the certainty that your loan costs will always remain constant. You can therefore assume that the interest rate on the “loan amount” will remain unchanged throughout the term of the financing.

What does the loan term mean

What does the loan term mean

The loan term of a loan has a significant impact on the conditions that the bank grants to the borrower. This means that the longer the “loan term” for a loan, the smaller the individual installments that the borrower has to repay, and vice versa. So it is worth considering the different options regarding the loan term. However, it is not possible to keep track of all maturities for all loans.

The loan term or loan term is the time interval from the payment to the full repayment or repayment of the loan amount. The amount of the nominal interest and the repayment are the decisive factors on which the duration depends. The amount and number of installments logically influence the duration in particular. The repayment of the loan and thus the loan amount including interest and processing fees takes longer, the smaller the monthly installments. If loans run for five years or longer, these are classified as long-term loans.

What are loan fees

Loan fees are often referred to as closing fees, processing fees, loan processing fees or processing commission. Why these fees? Until 2014, the credit institutions calculated a special amount for the effort incurred for a loan request or the processing of the loan application. In May 2014 there was a change in the law. The calculation of the “loan fee” for a loan request was declared inadmissible. This also applies to checking the creditworthiness of the borrower. As a result, processing fees, depending on the amount of the loan, may no longer be required since 2014. As a rule, these costs were approx. 1 – 3 percent of the loan amount applied for, for example with a loan of USD 10,000 already USD 150 to 450. In principle, the fees already paid for the loan application or the credit request can be claimed back.

What is a lender

The lender is a natural or legal person who grants the borrower or borrower a loan for a certain period of time at an appropriate interest rate. As far as the term “lender” is concerned, this is generally used in the legal texts, although the terms “lender” or “creditor” are sometimes used in loan agreements.

For the lender, a loan carries a considerable risk of default, so a higher interest rate is usually charged for it. The lender is usually a bank, a savings bank, a building society or an insurance company. As for the rights and obligations of the borrower, these are regulated in the BGB (Civil Code).

What is the monthly rate

Repayments of financing such as “loans with poor credit ratings” are also made in the form of individual monthly installments. With loans, the monthly installment contains an important component – the interest rate. The current market-typical index always applies to interest on the capital market. The bank then calculates the interest rate. In general, it then passes this interest on to the borrowers at a corresponding premium.

Another component of the “monthly installment” of loans is repayment. Usually, the borrower determines the number and size of the monthly repayment, based on his economic circumstances. Annually for long-term loan contracts the repayment is mostly 1 percent. If the loan amount and thus the loan amount are to be repaid in a shorter period of time, a higher repayment must of course be set. Regardless of this, the monthly installments – depending on the amount of the repayment – are then significantly increased.

The monthly rate of a loan is therefore defined by the primary criteria of interest and repayment. On the other hand, the monthly installment for loans also includes the processing fees of the banks and the agency fees of the credit intermediaries. Although these costs are normally taken into account in the interest rate, they count as a criterion of the monthly installment to the total loan amount.

What is a debt rescheduling loan

What is a debt rescheduling loan

What is a debt rescheduling loan? This is a loan that someone takes out in order to be able to pay off a loan with expensive interest a little cheaper by means of debt restructuring. Furthermore, different loans can be combined into one. You can therefore disclose more than one loan for a debt rescheduling. In principle, the “debt rescheduling loan” is not applied to the previous bank, but to another bank. However, there is no reason why the loan for a debt rescheduling should be taken out again from the same bank – clearly only if the conditions are right this time.

You see, debt restructuring has several advantages. The principle sense and purpose, however, is that with the debt rescheduling loan, after taking up your new loan, you will have a lower financial outlay than before. It can already help you save money if the interest rate is even slightly cheaper.

What is the total loan amount

The total loan amount includes all fees that the bank customer has to repay for a loan to the bank. This is therefore not just the amount of the loan taken out, but the total amount including all additional costs that the customer repays to the financial service provider during the repayment within the credit period. The additional costs, which are added to the pure loan amount, may also include commissions or processing fees and the interest to be paid. Because all “fees and expenses” are included in the “total loan amount”, this is often significantly higher than the nominal amount of the loan.

The cost for residual debt insurance that may be taken out to hedge the loan amount is also part of the total loan amount.

What is the loan amount

As far as the actual loan amount, which is paid out to the borrower after approval of the loan application by the financial institution, is of course lower than the total loan amount. The amount of the payout may also differ because in some cases the “loan amount” is not paid out in full as a total amount. In the same way, this also applies to a “Swiss loan” or a loan.

It does not matter whether the applicant is a private person or a commercial enterprise, the bank will determine the available income or the current earnings situation for the loan amount before the application is approved. The size of the actual loan amount is completely irrelevant. For example, the applicant’s monthly income for a loan amount of USD 500.00 is checked in the same way as for a loan amount of USD 10,000.00.

In principle, a fixed monthly repayment is agreed for the loan amount within a specified time. These agreements are always in the written loan agreement. In the event that the borrower has the corresponding monthly income, he can also repay the loan amount more quickly with special repayments. Such special repayments are not always free of charge. If you are interested, you only have to look in the respective financing contract. If the last installment for the loan amount has been repaid, the contractual relationship ends automatically. If the borrower wants to take out a fresh loan amount, this must be agreed again in writing.

What are the credit rating criteria

Some potential borrowers ask whether there is a loan without assessing the creditworthiness. The answer to the question is clearly “no”. The credit rating is based on the result of the credit check and defines the surcharges on the loan. The result largely depends on the “creditworthiness criteria”. If the credit rating is positive, relatively low interest rates are required. A good result in determining the various criteria of the credit check is therefore of great benefit to the borrower. The classic credit rating criteria of financial institutions are often very different from bank to bank. Regardless of the following creditworthiness criteria, there are no differences between the individual banks. Also, all of the points listed are the same for every borrower.

  • What is the total income?
  • What is the employment relationship like?
  • Is the borrower a contract agent, civil servant, or officer?
  • Who’s the employer?
  • Where is the borrower’s place of residence?
  • Are there entries at Credit Bureau or other credit reporting agencies?
  • Does the borrower keep a household ledger with an entry-expense report?
  • Are there assets in the form of buildings or land?
  • What is the marital status?
  • Are there any existing loans and guarantees?

These are the prerequisites for foreign loan intermediaries

These are the prerequisites for foreign loan intermediaries

If you want to apply for a loan from a loan broker, you have to meet a number of criteria. Amongst other things:

  • Age over 18 years
  • Resident in Germany
  • Cream bank account
  • regular monthly income
  • sufficient creditworthiness
  • for earmarked financing, collateral such as real estate or a car

Which loan can you generally get despite insufficient creditworthiness? Mainly it is the private loan or credit private, which various credit intermediaries also have in the program. In this case, “lending money without Credit Bureau” does not go through a normal bank, but through one or more private individuals.

Tips on foreign credit intermediaries

If you would like to apply for a loan with a poor Credit Bureau score or unfavorable Credit Bureau, then first consider whether you are able to repay the loan de facto without major problems. The bank usually has good reasons to reject a loan application.

Remember: It is one of the primary business principles of credit institutions that all loans that {consumer borrow} are repaid on time, in full and with interest. It is therefore not the case that financial service providers are not interested in lending. If payment behavior was previously very inadequate, it must be expected that there will still be no punctual repayment. As a result, the application will of course be rejected. Another reason for rejecting the loan application is often that the minimum income available is not sufficient to repay the loan.

It is therefore important to compare the total income with the expenses before applying. Only then should you make the decision whether to apply for a “loan without Credit Bureau”. This is an excellent way to check in advance whether the loan can be paid without any problems or whether there could be difficulties afterwards. Please keep in mind that there can always be something unpredictable financially, which makes it difficult or even impossible for you to pay back the loan amount conscientiously. This could be a defective refrigerator, the defective car or a surprisingly high payment request from the gas or electricity provider.

Those who are smart can get competent advice from their personal credit advisor on a “credit with Credit Bureau entry”. You will receive exactly the help you need, because on the one hand you will receive excellent advice to find the right offer de facto and on the other hand you will have someone at your side who, if necessary, will assess your financial situation without prejudice. So you do not fall into a debt trap unnecessarily, which can easily happen with a reckless “take out loan despite Credit Bureau”. In addition, the loan broker can provide competent advice on a merger of several loans, ie, “debt restructuring despite Credit Bureau”.

If you have the impression that you are illegally refused a “loan with Credit Bureau” or a “credit with Credit Bureau entry” by the financial service provider, it may be the case that your Credit Bureau score leaves something to be desired. Important: You should definitely take the opportunity to check the Credit Bureau score free of charge once a year and have incorrect or outdated data deleted immediately.

Loan Quote – a right for anyone interested in applying for or even evaluating a loan

A loan quote has a duration 

A loan quote has a duration 

Which must be specified on the document. Precisely for this reason, if the loan is requested and granted within the terms set by the expiry date in the document, it must have the conditions faithfully reported in the estimate itself. However, it is necessary that the estimate is official and that it contains all the necessary data. To prevent shadow areas from taking over, the EU intervened for some time with a directive that introduced the SECCI module. This represents a standard document that must be used by banks and financial companies to provide mandatory data in a simple and transparent form for the customer.

This standardization also allows different estimates to be compared with each other so as to choose the solution that best suits your needs ( Attention: it is not always said that the best situation for your situation is also the economically lowest one ). Among the mandatory data there must also be:

  • the day on which the estimate is calculated;
  • the date by which the conditions remain unchanged;
  • signature or identification code of the operator who issues the quote itself.

If, then, it is a loan with subsidized conditions linked to specific conditions or requirements, or to promotional rates, all the indications must be reported both on the improvement or promotional rate, and on the conditions that would be applied in the absence of such a concession. paying attention to receive a loan estimate with the form and content required by law, you obtain a reliable document that provides the right and clear indications.

Online or traditional?

Online or traditional?

The development and diffusion of loans on the web, often also available in 100% online mode, through the use of the digital signature, led to the development of online quotes. However, a loan quote and a calculation or simulation should not be confused with each other, which can happen when using simulators or online installment calculation tools. To understand what has just been said, take for example the tool of Best Bank, the Italian/French financial company which over time has specialized above all in the provision of online loans:

To obtain the estimate, it is necessary to choose the duration to repay the loan, on which the Tan and Taeg rates applied will also depend. Suppose we choose the 60 installments as the duration. Having done this, in order to print, view or download the quote, we must click the red button with the word View and print SECCI.

Warning! It is not necessary to go through this point. In fact, you can immediately proceed with the loan request by clicking on the button at the bottom right Request Now. That said, it is logically always recommended to take a look and save the quote. In the case of our example, the quote is in this form:

This merely exemplary criterion however applies to any type of online request. When it comes to a traditional loan quote, you must explicitly request to get a quote based on the desired amount and duration.

Even in the case of a ‘traditional’ quote made in the branch or through a consultant, it is not necessary to sign anything (instead, the signature or identification code of the operator who issues the quote itself is always required). The only exception is the signature of privacy in the case of a ‘nominative’ estimate by a credit institution of which you are not already a customer. For security, this document must also be read carefully before signing.

Copy of the estimate

Copy of the estimate

Issuing a copy of the loan estimate, even if you make the request to a bank or financial institution of which you are already a customer, is at the same time a customer’s right and a duty on the part of the financing company (a principle that applies equally to Good lender, Post offices or large banks such as Single loan, Nice bank, etc.). Despite this, it is often the customer who must make an explicit request, also asking for a certified copy for himself.

Warning : however, this is a regular situation. So if you request a loan, without having the budget released or without having carefully evaluated it, then there will be no margin to act against a bank that has provided a loan which you are not satisfied with. Based on what has been said, it is in the applicant’s interest to have more estimates made, view them and compare them before making a decision.

The only irregular situation occurs when those who have to issue a quote request a fee: the quotes must be free and not binding. If different proposals are made then it is necessary to carefully avoid continuing and contact serious and consolidated companies.

When can the rate of a loan be defined as usurer?

Whenever there is a need to apply for a mortgage or a loan, the greatest fear is linked to interest rates and how much the capital initially requested will be transformed (see also I need money).
There are banks and credit institutions that have taken advantage of the situation to significantly increase rates, even at the limit of the usury threshold.

The interest rate limits established quarterly by law

The interest rate limits established quarterly by law

To avoid that interest rates become too high and therefore unsustainable for citizens, limits are set so that they do not strain in the field of usury.
Each quarter, the Bank of Italy calculates the average global effective rates applied at a financial level according to the loan/mortgage category. By increasing these values ​​by 25% and adding a further 4 percentage points, the wear rate for that type is reached. In any case, the delta between the average overall effective rate and the usury rate cannot exceed 8 percentage points.

For the current quarter (from 1 October to 31 December 2015) the limit rates are summarized in this table:

Some useful tips

Some useful tips

First of all, pay close attention and read in detail the contract of your loans or mortgages to verify that it is in accordance with the law.
Considering that, often and willingly, contracts of this type are not easy to understand, it is recommended that you get help from a consumer protection association, so that they explain in detail the items that are not clear

If there is actually a level of interest above the limits, you have two ways. The first is to make an expert report to the companies/companies that offer this type of service. Be careful to rely on these companies, as working on large numbers and making money on time they tend to make money by making the paperwork go long.
Personally I believe that the second way, that is to turn to professionals, is the most effective.

Know that if the use by the bank of usury rates is recognized in the legal seat, you will have a lower interest (therefore the loan cannot be considered void). To this must then be added the amount to be paid for damage.

Loans and Mortgages: how to request a quote?

 

When a credit broker evolves his professionalism and experience to become a credit specialist, among the possibilities that arise in his career there is that of being part of complex bodies, real “providers” that provide services in this sense.

This is what happened in the case of the “Fine Bank”, a center for aggregating credit mediation that aims to satisfy any customer need in relation to mortgages, personal loans, assignment of the fifth (see also How to renew the assignment of the fifth). The headquarters are in the province of Savona (in Genoa there are qualified brokers located throughout Italy, also in Salerno, in Piglia, Sicily, etc.), while other offices are in Milan and near Naples. Let’s see what it is.

Credit brokerage for customer service

Credit brokerage for customer service

Founded in 2005 by the merger of two companies, Across Lender and Spin Lender, with the involvement in 2013 of the holding company Lite Lender Company, in reality the Fine Bank Group can count on personalities with 25 years of experience behind them. In order to give greater clarity and coherence to the project, four divisions are therefore created: insurance, companies, mortgages, loans and assignments of pensions and salaries.

How to request a free online consultation

How to request a free online consultation

In practice, by completing an online form on the website Fine Bank or by calling, the customer can choose the service on which to request advice, identifying the most suitable products at personalized and advantageous prices.

This applies to mortgages (and services such as mortgage replacement, online mortgages, subrogations, etc.), for personal loans (to understand how much you can ask banks for your needs), for insurance (life, home, fire, civil liability, disability) and for the transfer of the fifth and salary proxies (in order to find out how much to be able to retain).

Among the flagships also mentioned by the reviews made on Fine Bank, however, there is above all the loan and advice to companies. Whether for mortgages (in the case of a variable rate, the installment will be equal to the value of the Euribor rate plus the spread), mortgages, unsecured, leasing (see also Car leasing) or other products, there is always a consultant who can give the right advice to interested entrepreneurs.

In addition, each section presents truly complete subsections online with information on all the details that may concern certain topics. Finally, Fine Bank has also recently added the new Allea-Re project to these services, a sort of package of services dedicated to real estate agents to be closer to customers.

Construction finance despite existing loans.

Sometimes several payments are due at the same time and you temporarily have a financial bottleneck. In such a case, relatives or friends can usually help out. However, it is not always possible to request money from friends or relatives. And a normal bank would immediately reject any loan application due to a Credit Bureau entry or poor credit rating. However, this does not have to mean that you now have to bury your financing wishes. A borrower has real chances to get a loan even without Credit Bureau information or with poor creditworthiness.

Mortgage lending Despite existing loans – what you should consider

Mortgage lending Despite existing loans - what you should consider

It is crucial for you as a borrower that the repayment rates for your loan are as low as possible. So do not expect more than your current financial circumstances allow. Favorable interest rates and good conditions are essential for financing. Many customers want the most flexible loan possible. The possibility to suspend payment in installments for a month is just as much a part of this as free special repayments. If all of this is true, one can rightly speak of good financing on the subject of construction finance despite existing loans.

However, note a few things so that there are no obstacles to your financing as an unemployed person, trainee, employee, pensioner, self-employed or student:

1. Do not borrow more money than is really necessary

In general, the necessary funds should be overestimated as precisely as possible with a view to the subject of mortgage lending despite existing loans. If you have an overview of your expenses beforehand, you will not experience any unpleasant surprises afterwards and can always pay your installments on time. It would certainly be wise to plan a small financial cushion. However, this buffer should not be too large, since otherwise the liabilities would become unnecessarily high. Therefore, it is reasonable not to borrow more than is needed. If the need for funds has really been underestimated, you can easily compensate with follow-up financing in the form of follow-up or top-up financing.

2. Establish and structure a financing plan

The top priority for a planned project is to realistically assess your financial situation and then calculate the amount of the loan. This does not particularly apply to the topic of mortgage lending despite existing loans. For example, writing down all expenses every week is excellent: How much money is spent every day on what things? So that no hidden amounts are overlooked, small expenses, such as standing coffee at the bakery or beer after work, should also be taken into account. This has the advantage that, on the one hand, it can be determined where there is still potential for savings and, on the other hand, the correct repayment rate can be estimated fairly precisely.

3. Value care and accuracy

All information about your creditworthiness and your own financial situation must be correct, honest and careful – especially when it comes to mortgage lending Despite existing loans, with all information about your creditworthiness and your own financial situation carefully, honestly and precisely. You should allow yourself enough time to carefully compile all documents and evidence. Through the complete and honest presentation of your finances, you convey a serious picture of yourself, which always has a positive effect on your chances for an express or instant loan.

A good mediator can do a lot for you

In principle, the main activity of an intermediary is to support you in the search for a suitable “loan without Credit Bureau”. The assistance does not, however, extend solely to mediation. In some cases, it also includes detailed debt advice. If you want advice on a financing offer or need help in compiling the documents for the loan despite Credit Bureau application, an experienced broker is of course there for you.

Advantages or disadvantages of loan brokerage

Advantages or disadvantages of loan brokerage

Advantages:

  • Contacts with lesser known financial institutions and banks
  • Detailed advice before submitting the application
  • Mediation of loans even with insufficient creditworthiness
  • Help with compiling the documents for the loan application
  • Reasoning aid for large amounts of funding or difficult personal circumstances
  • Good options on cheap loan interest

Disadvantage:

  • Dubious offers are not always immediately recognizable
  • Risk of obtaining expensive loans
  • Possible costs of obtaining credit

The contribution credit without Credit Bureau Magdeburg is also worth reading

Based on the good business relationships that many intermediaries have with small banks, there are good chances of getting more effective terms for mortgage lending despite existing loans. It is entirely possible to negotiate even in difficult circumstances. Because of their good connections, they can explain negative Credit Bureau entries, for example, so that they are not rated as strongly in the creditworthiness check as in the automated processes of large banks. Such an application for a mortgage loan Despite existing loans, there would be absolutely no chances with a normal bank.

How to recognize reputable and dubious credit intermediaries

When it comes to home finance Despite existing loans, a reputable broker will always represent your interests. He generally does not charge you any fees or advance payments for his services because he receives his commission from the bank.

The following applies to reputable credit brokers:

  • There are no costs for arranging financing
  • The company has a website with address, imprint and contact options
  • When you call, the office is de facto reachable and {the person making the conversation partner} gives a competent impression
  • You will receive specific information on target and effective interest rates, terms and loan amount

This is how you recognize a dubious mediator

  • Dispatch of the application documents by cash on delivery
  • Offers in the form of a financial restructuring
  • Unsolicited acquisition at home
  • The charging of a fee regardless of the conclusion of the contract, but only for the consultation
  • The loan is promised to you one hundred percent in advance
  • Financing depends on taking out residual debt insurance
  • Calculation of expenses or additional costs
  • The broker only takes action if you sign a brokerage contract

Why foreign banks are good alternatives when it comes to mortgage lending despite existing loans

Whether for a new car, a long trip, a better mobile phone or the start-up capital for starting a business – loans from foreign financial institutions have long ceased to be a financing option that you have to keep your hands off. In addition to the traditional way to the house bank on the corner, consumers have now also discovered the Internet to take out a loan from a foreign bank that exactly meets their needs. What speaks for a credit institution abroad are the much simpler lending guidelines compared to Germany. Therefore, an insufficient creditworthiness or a negative Credit Bureau entry when it comes to mortgage financing play only a minor role despite existing loans. In principle, it is Infra banks that finance loans that are brokered online. This could be an interesting alternative for consumers who need an injection of money particularly quickly but have already been rejected by a Cream bank. This includes, for example, the self-employed, students, trainees, pensioners, probationary workers or the unemployed. It is obvious that this group of people in particular has an extremely difficult time with regard to mortgage lending despite existing loans.

Why a Swiss loan is a good option

Why a Swiss loan is a good option

It is often difficult for a private individual who is in financial need to get a loan. It is especially the people with bad credit or debts who need money most. In these cases, a so-called “Swiss loan” can be a sensible alternative. This is to be understood as a loan that a Swiss financial service provider issues. A negative Credit Bureau entry is irrelevant for these banks because there is generally no such request, which makes it easier to find a loan. With regard to the topic of mortgage lending Despite existing loans, this fact can almost be described as ideal.

Clearly you also need certain proof of income and collateral for a loan from Infra banks, although a credit check is also mandatory before the loan is granted. If your only problem is the Credit Bureau entry, but your credit rating is in the green range, the Swiss loan for mortgage lending would be a realistic option despite existing loans.

This is how building finance works with certainty despite existing loans

This is how building finance works with certainty despite existing loans

In the event that you are looking for mortgage lending despite existing loans, you are probably thinking of a “loan despite Credit Bureau” or “despite a moderate credit rating”. If Credit Bureau does not provide information on the economic situation of the applicant, then well-known credit providers will definitely turn to other credit agencies.

Credit Bureau is by far the largest and best known credit agency in Germany. Accordingly, almost everyone has a scoring with her. If you are a credit card holder or have set up a bank account, such a credit rating has already been created for you. You don’t get a “loan without Credit Bureau” at a reputable bank. In principle, only a “loan despite Credit Bureau entry” is possible. Very few consumers have a “negative Credit Bureau entry”, although many mistakenly think so. In fact, the scoring of the vast majority of people at the credit agency is consistently positive

Sometimes you want to find out whether your loan application has any chance of being approved. Then it is best to determine in advance whether you really have as negative a credit rating as you think. Incidentally, you can conduct a fee-free query of the “Credit Bureau Score” once a year at Credit Bureau. Since 2010, it has been possible to obtain so-called self-disclosure to determine what information is stored with the credit agency. In principle, you are entitled to this information once a year free of charge in accordance with Section 34 of the Federal Data Protection Act (BDSG). You can request your own scoring (Credit Bureau score) as well as information about whether any institute has made an inquiry about you in the past few months at “MeineCredit Bureau”. Your score depends on various “ratings”. These ratings can range from 1 to 100. In the event that someone has a score of 100, this means that an extremely low probability of failure is expected. On the other hand, if someone only has a value of 50, for example, Credit Bureau suspects that payment defaults may occur.

Tip: This is how you can have a negative Credit Bureau entry deleted

It has certainly happened to everyone that they did not pay an invoice on time. There can be various reasons for this: you have a new postal address due to a move, were on vacation at the time or were currently in a financial bottleneck. Even an open cell phone bill can sooner or later lead to problems. It happens faster than you think. The result is that you get a disadvantageous Credit Bureau entry and then it is difficult to get a loan. A reduction in the score index through several reminders means that it can have consequences for the application for a loan.

However, it is possible that the consumer can have an unfavorable entry deleted at Credit Bureau. It is not uncommon for the data stored at the credit agency to be out of date and therefore outdated or simply wrong. Therefore, exercise your right as a consumer and request self-disclosure in order to be able to view your saved entries. To do this, it is sufficient to request a deletion from the credit agency. The condition for removal is that the due invoice has been paid within 6 weeks and does not exceed USD 2,000.

Your data at Credit Bureau – deletion of Credit Bureau data

Even without your intervention, the data at Credit Bureau will be automatically removed after a certain time. This usually happens:

  • after 12 months for information about inquiries; This information is only passed on to Credit Bureau contract partners within ten days
  • for loans to the day, 36 months after the year in which the loan was repaid in full
  • in the case of reports on outstanding claims, each after a period of three full calendar years (that is, at the end of December 31 of the third calendar year that follows the entry)
  • for claims from online shops or mail order companies, provided that these have now been resolved

Swiss credit – the advantages

When it comes to obtaining a loan, it is often difficult for private individuals in a financial emergency. The explanation: The chances of financing decrease significantly with poor creditworthiness or debt. In such a case, a so-called “Swiss loan” would be a real alternative. This is a loan that is granted by a Infra bank. Credit Bureau queries are generally not carried out by such institutions, which makes it considerably easier to obtain the loan. Regarding the topic of mortgage lending Despite existing loans, this fact can almost be described as ideal.

Obtaining a loan without checking the creditworthiness as well as various proof of income and collateral is logically not possible even with Swiss financial service providers. If it is only the Credit Bureau entry that worries you about the financing, the Swiss loan could be a real option for you, provided that your credit rating is so far in the green.

What is the “APR”

For construction finance Despite existing loans, the amount of the loan costs is also decisive. The “effective annual interest rate” or “effective annual interest rate” plays an important role. For the cost of a loan, the “effective annual interest rate” is used, always referring to the nominal loan amount. As a percentage, it is always dependent on the payout. For loans whose interest or other price-related criteria can change during the term of the loan, this interest rate is referred to as the initial “annual percentage rate”

Sometimes, a fixed borrowing rate is set for a loan for the entire term. In plain language, this means that the nominal interest on which the “loan” is based remains unchanged, regardless of the current trend on the capital markets. A fixed borrowing rate provides you as a credit customer with the necessary planning security. So you can be sure that the interest rate on the “loan amount” will not change during the entire term.

What does the loan term mean

What does the loan term mean

The respective loan terms that are granted to the borrower have an enormous influence on the loan term of a loan. In other words, the borrower has to pay smaller monthly installments if the “loan term” is longer than if he chooses a short-term loan. As far as the loan term is concerned, it can definitely be worthwhile to think through the various options. However, it is not possible to use all maturities for all loans.

The loan term, which is also referred to as the loan term, is the period from the payment to the complete payment or repayment of the loan amount. In principle, it is the repayment and the amount of the nominal interest that play an important role for the duration. Accordingly, the amount and number of installments are important for the term. If the repayment amount is relatively low, it clearly takes a comparatively long time to fully pay the loan and thus the loan amount including processing fees and interest. If loans run for more than 120 months or longer, they are called long-term loans.

What are loan fees

What are loan fees

Loan fees as a whole include the processing commission, loan processing fees, transaction fee and the processing fees. Until 2014, financial institutions were allowed to officially charge the applicant the effort incurred for a loan request or processing the loan application. The calculation of the “loan fees” for processing a loan request, together with the evaluation of the borrower’s creditworthiness, was declared illegal in May 2014. In detail, this means that fees for processing a loan application (on average 1 – 3 percent of the loan amount) may no longer be required since 2014. Often the fees already paid for the loan application or the credit request can be requested back.

What is a lender

The lender can act as a company or as a private individual. He grants a loan to the borrower or borrower for a certain period of time at an appropriate interest rate. The loan agreements usually refer to the “lender”, although terms such as expressions are also common names.

A loan carries a high risk of default for the lender, which means that a higher interest rate is predominantly required. Lenders are usually financial institutions such as building societies, insurance companies or credit banks. The BGB (Civil Code) regulates the borrower’s rights and obligations.

What is the monthly rate

Financing such as “loans with poor credit ratings” is also paid in the form of individual monthly installments. The interest rate is a significant element in the monthly rate. This interest rate is based on the currently applicable, typical market prices for which the financial institution procures money itself on the global capital market. Your customers later pay this interest plus a reasonable surcharge for their loan.

Another important component in the “monthly installment” of loans is the amount of the repayment. The borrower normally determines the repayment rate depending on his economic circumstances. For {long-term financing contracts}, the repayment is usually 1 {{percent}} per year. If the borrower intends to repay the loan amount and thus the loan amount in a shorter period of time, he must negotiate a higher repayment with the bank. The monthly charge is then of course significantly increased in line with the amount of the repayment.

Repayment and interest rate are thus the common criteria that determine the monthly rate for loans. The processing fee of the banks and brokerage commissions of the credit intermediaries are not infrequently included in the monthly installment, very often included in the monthly installment. Normally, these costs are already included in the interest, on the other hand, they are part of the total monthly loan.

What is a debt rescheduling loan

A debt rescheduling loan is a loan that someone takes out in order to use the money to pay an existing loan with high interest rates a little cheaper. With this debt rescheduling, the borrower can save cash. Among other things, various loans can be merged into a single loan. As a result, you can disclose more than one loan for debt rescheduling. Of course, for a “debt rescheduling loan” you do not go back to the financial institution where you took out the first loan, but to another. However, there is no reason not to apply for the loan for a debt rescheduling from the same bank – clearly only if the conditions are right this time.

The real benefit of rescheduling is that after you take out your new loan, you have a smaller financial burden than before – hence the debt rescheduling loan. Even if the interest is only marginally cheaper, it can mean that you will ultimately save a lot of money.

What is the total loan amount

The total loan amount includes all additional costs that the customer has to repay for a loan to the financing bank. Consequently, this is not just the amount of the loan taken out, but the total amount that the customer repays to the financial service provider during the repayment within the term of the loan. The additional costs that are added to the requested loan amount include, among other things, possibly commissions or processing fees as well as the interest to be paid. The difference between the total amount of the loan and the nominal amount of the loan is therefore the result of the additional fees and expenses.

The costs for taking out residual debt insurance in connection with the borrowing also count towards the total loan amount.

What is the loan amount

What is the loan amount

As far as the actual loan amount, which is paid out to the borrower after approval of the loan application by the credit institution, is of course lower than the total loan amount. The amount of the payout may also differ because the “loan amount” may not be paid out in full as a total amount. The same applies to a loan or a “Swiss loan”.

When a financing application is made for a loan amount, the bank checks the current earnings situation for a commercial borrower and the total available income for a private person. The actual amount of the loan amount is irrelevant. The borrower’s monthly earnings are checked for a loan amount of USD 300.00 as is the case for a loan amount of USD 100,000.00.

There is usually a fixed agreement for the repayment of the monthly installment for the loan amount within a certain period. These agreements are laid down in the loan agreement without exception. Regardless of this, the borrower often has the option of repaying the loan amount faster with special repayments if they have the appropriate income.

Such special repayments are not always free of charge. If you are interested, you only need to look at the respective financing offer. Once the last installment for the loan amount has been paid, the contractual relationship automatically expires. When applying for a loan again, the borrower must in turn submit a written application to the bank.

What are the credit rating criteria

Without a credit check, there is no loan. On the basis of the result of the credit check, the credit rating is made, which in turn depends primarily on the “credit rating criteria”. From this, the respective premiums on the loan are then determined. If the credit rating is positive, the loan interest is favorable.

If the various criteria of the credit check provide a good result, it is undoubtedly very advantageous for the borrower. The usual creditworthiness criteria of financial institutions often differ from bank to bank. In contrast, there are no differences between the individual banks in the following creditworthiness criteria. Also, all of the listed factors are the same for every borrower.

  • What is the monthly earnings?
  • What is the employment relationship like?
  • Is the borrower an official, a contract agent, or a manager?
  • Who’s the employer?
  • Where is the applicant’s place of residence?
  • Are there entries at Credit Bureau or other credit bureaus?
  • Does the borrower keep a household book with an input-expenditure account?
  • Are there assets in the form of buildings or land?
  • What is the marital status?
  • Are there existing payment obligations and guarantees?

These are the prerequisites for mortgage lending despite existing loans

If you want to apply for a loan from a loan broker, some criteria have to be met. Amongst other things:

  • Legal age
  • German place of residence
  • Account with a domestic financial institution
  • regular income
  • sufficient creditworthiness
  • for earmarked financing, collateral such as real estate or a car

A so-called credit private or personal loan, which various credit intermediaries have in the program, can usually also be obtained with a poor credit rating. On the other hand, “borrowing money without Credit Bureau” does not go through a conventional bank. Instead, one or more private individuals appear as lenders in this case.

“Building finance despite existing loans” – good information

Think carefully about whether you are really able to repay a loan with a negative Credit Bureau or a bad Credit Bureau score without major problems. Because when the financial institution rejects a loan application, this is usually not unfounded.

Please consider the following: One of the business criteria of the lending banks is based on the fact that as many consumers as possible take out a loan and repay it on time, in full and with interest. There is always great interest on the part of financial institutions to award financing. In the past, the payment behavior was very inadequate, one must expect that no timely repayment will continue to take place. Therefore, the application will then be clearly rejected. Another reason for rejecting the loan application is not infrequently that the minimum income available is not too low to be able to repay the loan.

So before you apply for a “loan without Credit Bureau” or other financing, you should compare your total income with the expenses as realistically as possible. This makes it easy for you to assess whether you may have difficulties with repayment at a later date. Keep in mind that there can always be something unforeseen financially, which makes it a problem or almost impossible for you to pay back the loan amount conscientiously. This could be, for example, a defective refrigerator, the defective car or a high payment request from the tax office.

There is the possibility of competent personal advice on a “loan with Credit Bureau entry”, from an experienced credit advisor. This not only supports you in finding the right offer, but also evaluates your current financial status together with you. In this way, you don’t get caught in a debt trap unnecessarily, which can easily happen with a reckless “taking out a loan despite Credit Bureau”. One of the most popular among borrowers is “debt restructuring despite Credit Bureau”. The loan broker is also an expert in this area and can contribute the right recommendations and tips when it comes to combining different loans.

Renegotiating a Loan: real regulatory holes on some categories of them

The loans include many types of products even if in the Italian legal system in some cases there are real regulatory holes on some categories of them. A problem that we feel especially in certain areas such as when we are called to renegotiate a loan or a mortgage. This happens because the legislator has disciplined the renegotiation of mortgages, establishing the modalities, but at the same time has kept the bank’s discretion in merit high especially for some forms of personal loans.

On the contrary, going even deeper we see that only a specific discipline with limits and methods of accessing it is given to disposals. So we must first make the distinction between a general personal loan and a assignment of the fifth, and see how to achieve the goal of renegotiation.

Limits for the renegotiation

Limits for the renegotiation

Regardless of the lending institution (and also in the case of multi-year Inpdap loans), it is possible to renegotiate the loan against assignment of the fifth only if it passes through the renewal. This in turn is only possible if these conditions are met:

  • an assignment of the fifth with a maximum duration of 60 months was made, regardless of the number of installments that has been repaid, a renewal and therefore a renegotiation can only be requested if you opt for a 10-year assignment;
  • a sale for a duration of more than 60 months has been stipulated, for which there is the possibility of renewal and therefore renegotiation only if at least 40% of the current installments have been repaid.

There are no other possibilities of derogation from these conditions, even if more liquidity may be required in the renewal.

Restrictions on renegotiation of personal loan

Restrictions on renegotiation of personal loan

We reiterate again: there is no possibility of renegotiating a personal loan. Not only that, if banks do not find the operation convenient, not being obliged by law to consider a request for renegotiation, they can refuse to enter into any negotiations. Furthermore, even if the possibility of renegotiating the original conditions is taken into consideration, the problem remains with the management of the original contract. In this case, in fact, it will not be sufficient that contractual changes are reported, such as a rate change or an extension of the duration to make the installment easier to repay.

For this kind of changes, the stipulation of a new contract is required, which never happens at zero cost, since both the extinction penalties and the possible costs of the same extinction count are foreseen. In addition, the new loan agreement will normally also recalculate the preliminary costs of the new file.

So you have two possibilities to be able to proceed with an operation with which to renegotiate a personal loan, trying to exploit the aspect of economic convenience, regardless of whether it was granted by a financial company.

  • debt consolidation;
  • the request for new liquidity.

Potential of debt or loan consolidation

Potential of debt or loan consolidation

The consolidation operation has an essential, indispensable and mandatory requirement: at least two loans must be included in the same loan. In this way, the previous loans are extinguished and the conditions are completely new for them, such as rates and duration. The goal is to achieve savings and greater sustainability of the installment, so even if we are not talking about a real renegotiation it is a good way to achieve similar objectives.

How to overcome the limit on personal loans

How to overcome the limit on personal loans

If you have a personal loan but it is not a transfer of the fifth, you therefore have no tools available to push a bank to take into real consideration our willingness to renegotiate the loan.

But what to do in the case of a loan, stipulated perhaps only a year before, for which, with a renegotiation, we would obtain a good saving, which, however, would also represent a fair renunciation for the bank? The only viable hypothesis is to ask for an increase in liquidity, even a modest one. What does it mean?

Let’s see a practical example. For example, we asked for a personal loan of 10,000 USD to buy a used car at the rate of 10%. After one year the same bank offers a 7% rate for the same sum. The only possibility we have of lowering the rate on the current loan is to ask the bank for additional liquidity, let’s say another 2 thousand USD. The situation in this regard could be the following:

  • on the initial loan we would have an installment of approximately 212 USD with a duration of 5 years (with interest on maturity equal to approximately 2748 USD);
  • at the end of the first 12 months we would have repaid around 1600 USD, with a residual capital of around 8400 USD.

By asking for new liquidity of 2 thousand USD, we would again be around 10 thousand USD, or rather 10400, which at the rate of 7% would lead to the following situation:

  • installment of 205 USD always over 5 years of repayment;
  • interest on the maturity of 1955 USD.

If we add up the total interest already paid of around 926 USD for the first year, and the standard 1% penalty of 1000 USD, we will therefore pay a total interest of 3880. If instead we had chosen a loan that has not penalty of extinction then the total disbursement will be 2880 USD. So an operation of this type is worthwhile only if there are no extinction penalties to pay, otherwise many more interests are ‘accrued’, enjoying a limited increase in liquidity.

Conclusions

In order to overcome these difficulties, some banks have made their loans more flexible, which allows the duration of the loan to be reviewed and extended. But this is not a form of renegotiation, precisely because the contractual conditions are not affected, but the options already provided are exercised. Finally, it should be emphasized that renegotiation is not always convenient, as demonstrated by the example given above. You must always start from calculations and comparisons on real data, also using independent calculation tools.

Loans for Self-Employed Without Credit Bureau

It has happened to everyone before that it becomes financially tight. In such a case, relatives or friends can often help out. However, asking friends or relatives for financial help is not for everyone. And an application to the bank for a loan is not necessary simply because of insufficient creditworthiness or a Credit Bureau entry. However, this is no reason to throw in the towel too soon. A borrower has real opportunities to get a loan even without Credit Bureau information or with an unfavorable credit rating.

What points need to be considered regarding loans for self-employed people without Credit Bureau?

What points need to be considered regarding loans for self-employed people without Credit Bureau?

First and foremost, as a borrower, make sure that the monthly loan repayment rates are not too high. You shouldn’t put up with more than you can really wear. Good conditions and low interest rates are essential for good financing. The loan should also be as flexible as possible. The possibility of being able to stop the repayment for a month is just as important as free special repayments. If all of this is true, one can rightly speak of viable financing for loans for the self-employed without Credit Bureau .

However, note a few things so that there are no obstacles to your financing as a self-employed, student, pensioner, unemployed, trainee or employee:

1. Only take up as much money as you actually need

Basically, the necessary funds must be assessed as precisely as possible when planning with regard to the subject of loans for self-employed people without Credit Bureau . It is therefore an absolute must to prepare the expenses in advance in order not to experience any unpleasant surprises afterwards. Taking a small financial cushion into account would certainly not be wrong – too large a buffer, on the other hand, leads to unnecessarily high liabilities. It is therefore important not to borrow more than is needed. The better solution is to compensate for the underpriced needs by means of follow-up financing in the form of follow-up or top-up financing.

2. Structure and oversee your own finances

The top priority for a planned project is to realistically assess your financial situation and then calculate the amount of the loan. Last but not least, this also applies to the subject of loans for self-employed people without a Credit Bureau: A detailed weekly schedule of all expenses can help here, for example: So it is listed every day for what and how much money was spent. So that no hidden amounts of money are overlooked, small expenses, such as breakfast coffee at the bakery or beer after work, should also be taken into account. Such a statement of costs helps on the one hand to correctly assess the best possible credit rate and on the other hand it is an excellent way to determine where something could possibly be saved.

3. Be precise, careful and absolutely honest

It is important to be careful, honest and precise with all information about your own financial situation and creditworthiness – be careful, accurate and honest with all information about your financial situation and creditworthiness when it comes to the subject of loans for self-employed people without Credit Bureau. Take the time to compile all the required documents and evidence completely. In doing so, you convey a serious picture of your financial situation. This definitely increases your chances of being granted an instant loan or an emergency loan.

How experienced intermediaries work

How experienced intermediaries work

The intermediary will mainly assist you in getting a “loan without Credit Bureau” tailored to you from a foreign or German bank. The assistance does not only extend to pure mediation. Occasionally, it also includes in-depth debt advice. A qualified loan despite Credit Bureau intermediary will advise you on the financing offer by drawing your attention to all the advantages and disadvantages and by helping you compile the documents for the loan despite Credit Bureau application.

Advantages and disadvantages in mediation

Advantages:

  • Good contacts also to lesser known banks and institutes
  • Comprehensive advice before submitting the application
  • Mediation of loans even with insufficient creditworthiness
  • Assistance in compiling the application documents
  • Aid for argumentation in the event of unfortunate personal circumstances or high financing amounts
  • Good options on favorable terms

Disadvantage:

  • Risk of brokering overpriced loans
  • Doubtful offers are not always immediately recognizable
  • Possible costs for the loan brokerage

Small financial institutions often offer better conditions for loans for the self-employed without Credit Bureau than the large, established banks. A number of intermediaries are therefore trying to do business with such lesser-known institutions. It is also possible to negotiate difficult cases. Good personal contacts to small banks pay off in the sense that the intermediary has the opportunity, for example, to justify an unfavorable Credit Bureau entry. Then the entry in terms of creditworthiness is not as important as for a large bank, where lending is usually computer-controlled. Such a loan application for loans for the self-employed Without Credit Bureau would have no chance at an established bank.

This is how you can distinguish serious from dubious credit intermediaries

This is how you can distinguish serious from dubious credit intermediaries

A reputable broker will always act in your interest when it comes to loans for self-employed people without Credit Bureau. He usually does not charge you any expenses or advance payments for his services, because he gets his commission from the bank.

Reputable credit intermediaries can be recognized by the following points:

  • There are no costs for you to obtain a loan
  • The company has a website including contact options, imprint and address
  • The company can be reached by phone without having to spend a long time on hold
  • You will receive specific information on debit and effective interest, loan amount and terms

A dubious mediator can be recognized by these criteria

  • Application documents will be sent cash on delivery
  • Proposed financial restructuring
  • Unsolicited acquisition at home
  • Costs already collected for the consultation and regardless of the conclusion of the loan contract
  • You will be promised a 100% loan approval
  • A residual debt insurance must be taken out in connection with the financing
  • Calculation of expenses or additional costs
  • The broker only takes action if you sign a brokerage contract

The advantages of foreign credit institutions for loans for self-employed people without Credit Bureau

The financing of larger projects by foreign financial institutions is becoming more and more popular. This is not just a new car or a planned trip on vacation, but also {the start-up capital for building a livelihood}. Many foreign banks now offer cheap loans on the Internet, which are individually tailored to the consumer. Advantage: The guidelines for lending are not as strict with us in Germany. Therefore, a bad credit rating or a negative entry in the Credit Bureau only play a secondary role when it comes to loans for the self-employed without Credit Bureau. Swiss banks generally grant such online loans. This could be particularly interesting for borrowers who have been rejected by German banks but quickly need a financial injection. That would be z. B. Probationary workers, self-employed, students, unemployed, trainees or pensioners. When it comes to loans for the self-employed without Credit Bureau, it is particularly difficult for these people to get a loan.

Why a Swiss loan is a good alternative

Why a Swiss loan is a good alternative

When it comes to obtaining a loan, it is often difficult for private individuals with money problems. It is especially the people with debts or bad credit who urgently need money. A Swiss loan can be a real option in such cases. This is a loan granted by a Swiss financial institution. Such institutes generally do not conduct Credit Bureau queries, which of course makes it easier to find loans. With regard to the subject of loans for the self-employed Without Credit Bureau, this fact can be considered almost ideal.

Obviously, you can’t get a loan even from Swiss banks without a credit check and various proof of income and collateral. If your only concern is a negative Credit Bureau entry, but your credit rating is in order so far, the Swiss loan for self-employed loans would be a real opportunity without Credit Bureau.

Loans for self-employed people without Credit Bureau: How it works

Loans for self-employed people without Credit Bureau: How it works

Many people who are looking for loans for self-employed people without Credit Bureau online, that is, “despite moderate creditworthiness” generally think of a “loan without Credit Bureau”. Because with all well-known credit providers, the creditworthiness is checked – if not with Credit Bureau, then without a question about another credit agency.

Almost everyone has scoring at Credit Bureau, Germany’s largest credit agency. It is enough that you have opened a bank account or applied for a credit card. Then a corresponding credit rating will be created for you at the same time. Accordingly, you do not get a “loan without Credit Bureau” from {a reputable bank}, at best a “loan despite Credit Bureau entry”. Strangely enough, quite a few consumers mistakenly think they have a “negative Credit Bureau entry”, although the statistics say otherwise: the {majority} of the entries are positive

Before submitting a loan application to the bank, you should first determine how it is with your scoring or whether it is really so negative that your application may be rejected. Incidentally, you can conduct a free query of the “Credit Bureau Score” at Credit Bureau once a year. Since 2010 it has been possible to obtain self-assessment to determine what information is stored at the credit agency. In general, according to the Federal Data Protection Act (BDSG) § 34, you are entitled to this information once a year free of charge. You can request your own scoring (Credit Bureau score) as well as information about what financial service providers or other institutions have made an inquiry about you in the past few months from “Credit Bureau”. Your score depends on different “ratings”. These ratings can range from 1 to 100. If someone has a score of 100, it means that an extremely small probability of failure is to be expected. In contrast, the risk of default is much more likely if someone only has a score index of 50.

Tip: This is how you can have a negative Credit Bureau entry deleted

It has certainly happened to everyone that they didn’t pay an invoice on time. Be it through no-fault, short-term financial bottlenecks, because of a longer vacation or because of a move to a new address. Sooner or later, there may be difficulties with an open mobile phone bill. One or the other could not believe it when he applied for a loan at his bank months later, but was rejected due to a negative Credit Bureau. A reduction in the score by several reminders means that it can have consequences for the application for a loan.

However, it is possible that the consumer can have a disadvantageous entry removed from Credit Bureau. It may happen that the credit agency still has information that is either incorrect or very old and therefore no longer up to date. Logically, such entries should definitely be deleted immediately. You can request such deletion directly from the credit agency. However, the elimination is only implemented on the condition that the open invoice does not exceed $ 2,000 and was paid within 6 weeks.

Your data at Credit Bureau – deletion of Credit Bureau data

Your data at Credit Bureau - deletion of Credit Bureau data

Even without your intervention, the entries at Credit Bureau are automatically eliminated after a certain period of time. For example, this happens with:

  • after 12 months for information about inquiries; This information is only passed on to Credit Bureau contract partners for 10 days
  • for loans 3 years after the year of the full repayment (to the day) of the loan
  • for information about outstanding claims, each after a period of three full calendar years (ie with the end of December 31 of the third calendar year that follows the entry)
  • in the case of claims from online shops or mail order companies, if these have now been resolved

The advantages of a Swiss loan

Individuals who want to take out a loan because they are in a financial emergency are often finding it difficult. Financing is made significantly more difficult due to debts or poor creditworthiness. In such cases, a so-called “Swiss loan” can be a real alternative. This is a loan that is granted by a Swiss credit bank. A negative Credit Bureau entry is irrelevant for these institutions, since such a request is generally not made, which makes it extremely easy to find a loan. With regard to the subject of loans for the self-employed Without Credit Bureau, this fact can almost be described as ideal.

But even with Swiss financial service providers, you cannot get a loan without a certain credit check. The Swiss bank will also ask you for collateral and proof of income. With an acceptable credit rating, the Swiss loan is a real option for loans for self-employed people without Credit Bureau, even if you have a negative Credit Bureau entry.

What is the “APR”

What is important for loans for the self-employed Without Credit Bureau is the “effective annual interest rate”, which is also referred to as the “effective annual interest rate”. The “effective annual interest rate” is used to determine the cost of a loan, in each case based on the nominal loan amount. It is always dependent on the payout as a certain percentage. In contrast, an initial “effective annual interest rate” is the name for an interest rate that can change during the term of the loan (variable interest rate)

When financing is concluded, a fixed debit interest rate can also be set for the entire term. This means: The nominal interest rate, which is based on the amount of the “loan”, remains unchanged regardless of the current trend on the capital markets. The advantage here is that a fixed borrowing rate gives you the certainty that your loan costs will always remain constant. The interest rate on the “loan amount” therefore remains unchanged throughout the credit period. So you are constantly immune from the unpleasant surprise of a rate hike.

What does the loan term mean

What does the loan term mean

The respective loan terms that are granted to the borrower have a major influence on the loan term of a loan. In other words, the borrower will have to pay lower monthly installments if the “loan term” is longer than if he chooses a short-term loan. It may therefore be worthwhile to consider the various options in the area of ​​the loan term. Please note that some loans only offer a limited selection of terms.

The loan term, which is also referred to as the loan term, is the time period from the payment to the complete payment or repayment of the loan amount. The repayment and the amount of the nominal interest are the decisive features on which the duration depends. Above all, the term clearly depends on the amount and the number of installments. The lower the monthly installments, the longer it will take for the loan amount and thus the loan including interest and processing fees to be paid off in full. There are also special loans with very long terms (at least 120 months). These are known as long-term loans.

What are loan fees

What are loan fees

Loan fees are often also referred to as processing commission, closing fee, loan processing fee or processing fee. Until 2014, financial service providers were officially allowed to charge the applicant for processing the application for a loan or for a loan request. As of May 2014, both “loan fees” for preparatory activities when requesting a loan and checking the creditworthiness of the borrower may no longer be charged. Banks and other financial institutions are therefore no longer allowed to charge costs that are dependent on the respective loan amount. Up until now, such processing fees have normally been around 1 – 3 {{percent}} of the loan amount, for example, for a loan of $ 10,000, this was already $ 150 to 450. If various borrowers were charged such a fee for the loan request or the loan application, they generally have the option of requesting reimbursement of the costs.

What is a lender

The lender can act as a private person or as a company. He grants a loan to the borrower or borrower for a certain time at a corresponding interest rate. Legislation generally speaks of the “lender”. {Other common names} are also “lender” or “creditor”.

Lending a loan involves a considerable risk of repayment for the lender. As a result, higher interest rates are usually charged. Lenders are typically financial institutions such as insurance companies, credit banks or building societies. The rights and obligations of the borrower are regulated by the Civil Code (BGB).

What is the monthly rate

What is the monthly rate

Borrowers who have received “bad credit” loans must also repay them as individual monthly installments. One of the elements of the monthly installment on loans is the interest rate. The bank calculates the interest rate based on the prices currently charged for interest in the global capital market. As a rule, she later passes this interest on to her customers with a corresponding surcharge.

Another important component in the “monthly installment” of loans is the repayment. In general, the borrower determines the number and size of the monthly repayment, with a view to his economic situation. Annually the repayment for {longer-term financing} is mostly one percent. With a higher repayment, the loan amount and thus the loan amount can of course be repaid with a shorter term. The monthly charge is then of course significantly increased in accordance with the amount of the repayment.

It is mainly the repayment and the interest rate that primarily give the monthly installment for loans. However, the monthly fee also includes the processing fees charged by the banks and the commission paid by the credit intermediaries. These costs are part of the total loan as part of the monthly installment, although they have usually been taken into account in the interest.

What is a debt rescheduling loan

What is a debt rescheduling loan? This is a loan that someone takes out in order to be able to pay off a loan with an expensive interest rate a little more cheaply through debt restructuring. A debt rescheduling has the positive aspect that you can combine different loans into one. It is therefore by no means an issue to disclose more than one loan in the course of a debt restructuring. Logically, for a “debt rescheduling loan” you do not go to the {credit institution} where you applied for the expensive loan, but to another one. On the other hand, there is no reason not to apply for the loan for a debt rescheduling from the same bank – of course only if the repayment terms are right this time.

The lower financial burden after taking out the new loan is undoubtedly the basic purpose for a debt rescheduling loan. Even if the interest rate is only slightly cheaper, it can mean that you will save a lot of money in the end.

What is the total loan amount

What is the total loan amount

Borrowers usually commit to repay the total amount of the loan to the financial institution. This includes all fees that the bank charges for the loan taken out. The bank therefore does not only require the customer to repay the loan amount taken out, but the total amount including the additional costs, within the term of the loan. The loan amount applied for increases by any commission or processing fees and the total interest payable. Given the additional expenses and fees, the “total loan amount” is significantly larger than the nominal amount of the loan.

The {expenses} for taking out residual debt insurance in the course of borrowing are also part of the total loan amount.

What is the loan amount

The actual loan amount that the borrower receives after the loan application has been approved is lower than the total amount that he then has to pay. The amount of the payment may also differ because the “loan amount” may not be paid out in full as a total amount. In the same way, this also applies to a loan or a “Swiss loan”.

It does not matter whether the borrower is a private individual or a business, the credit institution will determine the total income or the business balance in any case before the application for the loan amount is approved. It doesn’t matter how much the loan is. For example, the borrower’s monthly income is checked for a loan amount of $ 500.00 as well as for a loan amount of $ 10,000.00.

The monthly installment for repayment within a specified period of time is usually fixed for the loan amount. These agreements are all stipulated in the loan agreement. If the borrower has the corresponding income, he can also repay the loan amount more quickly with special repayments. In the event that you want to know whether these special repayments are offered free of charge or are subject to fees, you have to check the loan agreement. After the last installment for the loan amount has been paid, the contractual relationship is generally terminated automatically. When applying for a loan again, the borrower must submit a new one to the bank in writing.

What are the credit rating criteria

Loans can be obtained without assessing the creditworthiness. The credit rating is based on the result of the credit check and determines the surcharges on the loan. The result mainly depends on the “creditworthiness criteria”. With an excellent credit rating, the financial institution usually charges lower interest rates. If the various factors of the credit check provide a good result, this undoubtedly has significant advantages for the borrower. The normal credit rating criteria of financial institutions often differ from bank to bank. However, there are no differences between the individual banks in the subsequent creditworthiness criteria. All the factors listed are also the same for each applicant.

  • What is the amount of income?
  • What is the employment relationship like?
  • Is the borrower a contract agent, civil servant, or officer?
  • Who’s the employer?
  • Where is the applicant’s place of residence?
  • Are there entries at credit agencies such as Credit Bureau etc.?
  • Does the borrower keep a household ledger with an expense report?
  • Are there assets in the form of land or buildings?
  • What is the marital status?
  • Are there existing payment obligations and guarantees?

These are the prerequisites for loans for self-employed people without Credit Bureau

Your desired loan has a better chance of being initiated by the loan broker if you meet the following conditions:

  • Age over 18 years
  • German address
  • German bank account
  • secured monthly income
  • sufficient creditworthiness
  • for dedicated loans, collateral such as an object or a car

A few credit intermediaries offer the possibility of getting a loan despite poor creditworthiness, namely the so-called personal loan or credit private. When “lending money without Credit Bureau”, one or more donors act as donors instead of the financial institution.

“Loans for self-employed people without Credit Bureau” – useful information

"Loans for self-employed people without Credit Bureau" - useful information

It is important to think carefully about whether it is really possible for you to repay a loan with insufficient Credit Bureau or a bad Credit Bureau score on Heller and Pfennig without any major difficulties. As a rule, it is not unfounded if the bank rejects a loan application.

Remember: It is one of the primary business principles of credit institutions that all loans that {consumer borrow} are repaid on time, in full and with interest. It is therefore not the case that financial service providers are not interested in granting the loans. If payment behavior was very poor in the past, it can be expected that the monthly installments will not be repaid correctly in the future. In this respect, the application will of course be rejected. Another reason for rejecting the loan application is often that the minimum income is not too low to be able to repay the loan.

So compare your income with the expenses as realistically as possible before making the decision to apply for a “loan without Credit Bureau” or other financing. This procedure makes it easy to determine whether there may be problems with the repayment later. You should definitely keep this in mind: There are always surprising circumstances that can thwart us. Our entire financial plan is turned upside down and we can no longer repay the loan on time. It is possible that, for example, the car has to go to the workshop urgently, the washing machine suddenly breaks or suddenly a high payment request from the tax office flutters into the house.

Anyone who is smart can get advice from their credit advisor on a “loan with Credit Bureau entry”. This not only helps you to find the right offer, but also assesses your financial situation together with you. This way you will not get into a debt trap, which can very well happen with a carefree “taking out a loan despite Credit Bureau”. In addition, the loan broker can provide competent advice on the aggregation of different loans, that is, “debt restructuring despite Credit Bureau”.

In the event that you have the impression that the bank refuses to grant you a “loan with Credit Bureau” or a “credit with Credit Bureau entry” without authorization, it may be that your Credit Bureau score is insufficient. Important: You should in any case take the opportunity to check the Credit Bureau score once a year free of charge and to have incorrect or outdated data eliminated immediately.

 

Promise of the bill of exchange: what risks for the debtor?

To make payments, in addition to the classic methods that we all know (cash, credit card, debit card, postal payment slips) there are also debt securities. The latter are honored and are divided into three types: promissory note (with payment order), promissory note (which contains a sort of “promissory note”), and bank check. What happens if you fail to honor these debt securities? Let us dwell on the promissory note: we will arrive at the so-called “protest”. What are the consequences of the latter? Let’s find out together.

What is the protest and what does it entail

What is the protest and what does it entail

The protest of the promissory note is a public act and as such needs to be produced by a notary, a bailiff or another public official. It states that the document was presented but that the debtor refused to pay. In a protest, the creditor may still request the unpaid amount of the bill of exchange plus the interest accrued in the meantime plus the expenses incurred for the protest itself.

Even the protest, like all official documents, has time to comply: for sight bills you must issue it within 12 months from the date of issue, for bills with a certain date, however, no more than two weekdays must pass from the expiration date. Then the document will be sent to the President of the competent Fine Bank and the name of the debtor, after another 10 days, will be included in the list of protesters and reported to the Crif (in the case of the promissory note not accepted, the indication of the name is made for statistical issues).

What the debtor must do

What the debtor must do

If you find yourself in the unpleasant situation of the debtor, you must act in an organized way and be well informed. An important thing to know is that if the debt is paid within one year of the promissory note being issued, the debtor can request the formal cancellation from the list of protests to the Fine Bank.

If, on the other hand, the payment should take place after more than a year, then the debtor must first wait for the rehabilitation, asking the President of the Court of the province in which he resides. Only once the rehabilitation has been obtained can the request for cancellation be sent to the Fine Bank. It would always be better to pay on time, however, if you don’t want to risk foreclosure.

A protested bill of exchange, in fact, is in all respects an executive title with which actions can immediately be taken which lead to the attachment of assets or debt securities to the debtor (see also Loans for protestors and bad payers).