Would you like to take out a bad credit loan? Do you have doubts as to whether you are qualified for a loan at all? – Or are you afraid of being ripped off by mediators?
We accompany your loan search with neutral information. Poor credit ratings, as shown in the private credit checker Score, do not have to mark the end of every loan request. Just go to the next bank and take out a loan, of course that doesn’t work.
Find out what is important so that bad credit loans can be approved. In addition, what problems are lurking and how to overcome them.
Take out bad credit – problem
Taking out a loan with poor credit rating fails for two different reasons. The overriding reason is that credit is only given by credit institutions when it is considered safe. This is followed by the second reason seamlessly. The proof of creditworthiness for regular bank loans from Germany is based largely on the data of private credit checker. The private credit checker score serves as the basis for the loan decision.
The reason for this is understandable. Only through the score, as a recognized evaluation criterion, are modern, fast credit procedures, as expected by any solvent borrower, at all possible. This means that the credit request with poor creditworthiness automatically fails due to modern technology. But it is not just simple, understandable reasons that create high credit hurdles with poor private credit checker creditworthiness.
Borrowers underestimate the burden on credit institutions. They can only offer low-interest regular loans for solvent borrowers if they refinance themselves without interest. How small the profit margins have become can be clearly seen from the escalating fees. Granting only secure credit is politically required. Lending with bad credit increases the risk of the bank. This would endanger the interest-free money supply.
Find credit opportunities – creditworthy despite poor creditworthiness
The bottom line, from the point of view of the average borrower, that serious credit with limited credit rating has actually disappeared from the market. Attempts at credit with the usual loan providers fail. It also filters out people whose private credit checker score does not reflect real creditworthiness. In the regular credit check procedure, they were deprived of the opportunity to prove their own creditworthiness in the individual case check.
The resulting gap in the market is filled by a few credit institutions whose refinancing concept is not based exclusively on interest-free ECB loans. To put it bluntly – they buy their money more expensive, lend it at higher interest rates and are allowed to take higher credit risks. Overall, there is a good handful of credit institutions that are willing to examine the individual case individually. Within Germany, Essen Bank should be mentioned.
Outside of Germany it would be the loan without private credit checker for Germans. For example, it comes from the Sigma credit bank in Liechtenstein. These offers are rarely found through ordinary loan comparisons. They are also not easily recognizable by slogans, “like credit despite private credit checker”. Not even on their own homepage do all special finance providers draw attention to their special loan offer.
This advertising deficit is primarily about not being overwhelmed with unsatisfiable credit requests. The number of rejections, associated with the workload, would be too high. – In most cases a bad private credit checker is rational. The credit default risk is real. The task of finding the few who can actually afford their loans despite their poor creditworthiness is shared by credit institutions with intermediaries.
Key role – reputable credit intermediaries
Reputable credit brokers play a key role in bad credit. You know the requirements for special credit from everyday work. Your central task, from the point of view of the credit institutions, is the serious preliminary credit check. It makes sense to enable people to carry out a personnel-intensive individual case check that can actually qualify for a special loan.
Special loans have a bad reputation mainly because some intermediaries do not pursue credit brokerage as their primary goal. Overall, they earn more when they focus on by-products such as insurance sales. This legal but unfair business is summarized with the hope of credit, as a “gray market”.
Credit despite poor credit rating – assess credit opportunities
Borrowers who are safe to pay have chances to get a serious installment loan despite poor private credit checker creditworthiness. Apart from the private credit checker credit rating, they meet at least all the requirements that apply to regular credit. You are not over-indebted and have a fixed income subject to social security contributions. Your employment contract is permanent and has existed for a long time.
There is no threat of garnishment of wages, nor has the income from work been transferred to existing creditors. A sufficiently high attachable income component is also required. There are two exceptions to this rough requirement for reputable bank bad credit. It is the mini loan, as in banks, for example, as a lightning loan. New customers should apply for 100 to 500 USD of credit with poor creditworthiness, with a term of 30 days.
The second exception is credit from private donors, such as Good lender offers. Nevertheless, the principle of “fair play” also applies to the credit offers mentioned with poor creditworthiness. Real credit opportunities for loans with poor credit ratings only exist if the lender can be sure of their solvency and willingness to pay. Nobody has money to give away. No donor wants to run after the repayment here either. – Neither banks nor private investors.