Anyone applying for a loan from a resident bank in Germany must prove that they have a credit rating. In addition to the query of the Schufadaten the credit rating is very important, because only a creditworthy applicant really gets his desired credit. With the credit rating we generally meant the creditworthiness – and this is composed of different facts. In addition to obtaining income from a dependent activity, the nature of the activity also plays a role in the creditworthiness. In addition, the level of income is very important if the credit rating is assessed by the bank requested for the loan. Today, however, it is also possible to obtain a loan without a credit rating.
Does the credit without credit have a catch?
The mass of offers in the credit sector means that today for every need the right credit is available. And so the credit without credit is available for applicants who just do not have sufficient credit for a loan from a resident bank. Especially on the Internet, there are many offers for credit without credit. Generally, this loan option is also very useful and good. However, applicants should be concerned that some of the vendors are willing to pay the loan without a credit. The background is that this loan is tied to increased risk for banks.
An applicant with a low credit rating carries a higher default risk for the loan than an applicant with a very good credit rating. And so some providers are going to rate for the credit without credit rating and higher interest rates – and some of these are significantly higher than the classic loan. So if you want to apply for the loan without credit, you should definitely check the offer before signing. In addition, various offer should be obtained before the decision for the cheapest possible provider fails.
The credit without creditworthiness can also be handled by a credit intermediary
Someone who wants to apply for the loan without a credit rating sometimes shies away from even contacting the banks and opening up in advance that their own credit rating is not the best. Here, the credit intermediary can be a solution. A credit intermediary works with numerous banks and can thus find the right offer for the applicant. Thus, the loan can be found without a credit, without the applicant itself has to audition at the banks and may also be faced with cancellations for the credit. It is important that the credit intermediary works seriously. Should the applicant already pay fees without a contract being concluded, it can not be assumed that the credit intermediary is sound. Even with urgent need of money you should not get involved in such business.
An attachable salary must be given
In order for the loan without creditworthiness, the bank secures to the effect that there is a attachable fixed income. With a so-called attachment clause within the credit agreement, the claimant then signs that, if any installments are missed, the attachable tel of income may be immediately set aside for garnishment. With this clause, the bank can obtain the otherwise non-existent repayment security.