Consumers repeatedly ask in Internet forums whether it is possible to get an instant loan despite a Credit Bureau entry. There is no binding answer of general validity to this interesting question. When it is possible to get a loan despite bad Credit Bureau and when that does not work at all depends on the individual situation of the person who wants to take out the loan and of course on the bank where the loan application is received.
In theory, it is already possible to take out an instant loan despite Credit Bureau entry, but not everyone gets it. In the first place, it also depends on what kind of entry it is. A Credit Bureau information is negative if it states that a loan has been canceled or a payment order has been issued. That is rather harmless. The Credit Bureau is also negative if consumers have taken the affidavit or are in private bankruptcy. The latter generally means that credit inquiries are generally rejected.
The instant loan despite Credit Bureau entry is difficult to obtain
Basically, the probability that no loan will be granted is greater than the possibility of getting the loan with a negative Credit Bureau. It is rather the exceptions that confirm this rule. This can be illustrated quite well using examples. If a loan applicant in Credit Bureau has a completed dunning notice and requests a car loan with a 50 percent down payment, he will get the loan. However, if this customer requests 50,000 dollars in cash, the bank will refuse or request additional security.
In another example, the loan applicant took the affidavit three months ago. Or a current loan cancellation is noted in his Credit Bureau, then every bank, even if it is only a small loan, will reject the loan application. An immediate loan despite Credit Bureau entry will hardly be possible with this entry. If it is only a small loan, the customer can try to take out a Credit Bureau-free loan. But that is also not possible with an eV in the Credit Bureau.
In summary, it can be said that the chances of an instant loan despite Credit Bureau entry for employees are quite good if the entry is not so serious. If the Credit Bureau is negative, unemployed or Hartz IV recipients have no way of getting credit from a bank in Switzerland or abroad. Foreign banks do not grant loans to the unemployed and German banks also reject credit requests from unemployed people with a negative Credit Bureau.
Not every negative Credit Bureau is equally negative
Not all negative features that can be noted in the Credit Bureau information from consumers weigh equally. The dunning notice that has already been completed or the completed credit termination does not necessarily result in the loan application being rejected. However, there are also so-called hard negative characteristics, such as sworn state insurance or private bankruptcy, which actually always lead to banks rejecting credit requests.
As soon as banks overestimate the credit default risk, they do not issue an instant loan despite Credit Bureau entry. Banks only grant loans to customers if they assume that the borrowers will repay the borrowed money. If it is foreseeable beforehand based on the information about customers that the customer is too risky, the loan application will be rejected.
Alternatively, take out a Credit Bureau-free loan
Credit Bureau-free loans are not granted by German banks. If you are interested in a loan without Credit Bureau, consumers should contact a reputable credit broker. The Credit Bureau and what is noted in it is not relevant for the foreign banks. Nevertheless, loan seekers must of course also be creditworthy. The creditworthiness of foreign banks can be proven through a permanent position with regular income. Not all loan seekers who want to take out an immediate loan despite Credit Bureau entry have a legitimate chance that their loan application will be met.