Consumers predominantly look for a Credit Bureau-free loan if there are negative characteristics. The Credit Bureau-free loan also makes sense if the loan applicant plans further financing within six months, since more than one loan in six months leads to a deterioration in the credit rating by Credit Bureau and other credit agencies.
Take out a Credit Bureau-free loan in Germany
A Credit Bureau-free loan cannot be obtained in Germany from conventional financial institutions. The pawnbroker pays out the classic Credit Bureau-free loan because the security is provided via the pledge to be deposited. Borrowing in the pawnshop is associated with high interest rates and also requires possession of a temporarily disposable pledge.
Life insurance and private pension insurance can be borrowed from the insurer. The insurance loan can be processed as a Credit Bureau-free loan because the borrower’s payment claims serve as security. The loaning of Riester pensions and Rürup contracts is not sensible, as this is considered harmful use and leads to a loss of state subsidies or tax benefits.
Take out a Credit Bureau-free loan abroad
The Swiss bank loan is the best-known Credit Bureau-free loan. The federal credit banks have no access to the data of the German credit protection system and therefore grant their loans without Credit Bureau.You make a credit check with the Swiss ZEK, which is comparable to Credit Bureau, but whose data set only contains information on domestic financial contracts. A Credit Bureau-free loan from Switzerland is not a foreign currency loan, but is processed entirely in Swiss Francs.
The loan is mainly limited to a loan amount of 3500 USD, at a few financial institutions to 5000 USD, and is paid out by almost all Swiss banks only to employees. Freelancers and the self-employed have a Credit Bureau-free loan from a small number of Swiss credit banks. If loan seekers do not meet all the conditions for a loan directly from a financial institution without Credit Bureau, they can contact a credit broker. The service provider can also arrange credit requests for more than 5000 USD to a Swiss bank.
Applying for loans through capital lender is easy. An online loan application is sufficient to address both banks and private investors at a serious level. Of course, the borrower decides who gets the loan.