A loan with completed Credit bureau is a concern with which many consumers approach the banks. You want to borrow money, but the entry of the protection community says that there have been problems at one time. These are however now solved.
Creation of the Credit bureau entry
It is possible for banks to draw conclusions about the creditworthiness of their customers from a Credit bureau entry. How did he repay older loans? Are difficulties to be expected? The entry at Credit bureau usually collects the payment obligations that could not be met in the past. As a rule, this payment obligation will be met at some point, then it is talked about by settled Credit bureau.
Credit with completed Credit bureau is at the discretion of the bank
Whether the request of a customer for a loan with completed Credit bureau is met, is in the hands of the financial institution. This will usually investigate why the payment obligation has not been met.
Then, the bank will assess the credit on the completed Credit bureau, how high the default was and for what reason was paid too late. If the amount was low and was also paid very quickly, a loan with completed Credit bureau is actually quite possible.
The banks are then hardly concerned. This is true even if the desired loan amount is small. However, it becomes more problematic if one or more loan installments have not been serviced. Then a loan with completed Credit bureau is not a matter of course and not every bank will grant it.
Dodge foreign banks
If a German bank does not grant a loan with a completed Credit bureau, it is still possible to switch to foreign banks. There are banks that do not consider Credit bureau entries at all.
It is for the customer, but always very well informed about the terms and conditions. This also saves a lot of trouble for both sides in the case of a loan with a completed Credit bureau.
Examples from Germany
Some banks also lend small sums of money after a relatively short decision-making time, even with completed Credit bureau, for example, Norisbank, which has free-use loans for sums of between $ 1,000 and $ 50,000. The interest rates are 3.9 to 9.9 USD. With a loan of 10,000.00 USD, the borrowing rate here is 5.74 percent and the effective interest rate is 5.90 percent. The term is 48 months. The fee is 0 percent.
Consumers should still consider whether and where to take out the loan. It must be? If you already had difficulties, you should think about how it came about. If necessary, a smaller amount should suffice as a loan.