Archive February 20, 2020

Credit Without Credit Entry – How To Get A Loan?

 

If you want to make a major purchase, for example want to buy a new car or build your own home, then you need sufficient financial resources. But not everyone has such large sums or can suddenly pay large sums. Therefore, you need a loan, which you can then gradually pay off in fixed installments. But is it possible to get a loan without credit check entry? What do you have to do for it and what do you need to know about credit without a credit check entry?

What is special about a loan without a credit check entry and how can you get it?

What is special about a loan without a credit check entry and how can you get it?

The term credit without credit check entry is understood to mean a loan in which credit check information about the borrower is not obtained in advance, but also afterwards a report is made to credit check credit check . For this reason, a loan without credit check about the amount, duration and credit installments to be paid. Obtaining such a loan in the country is not exactly easy, because not all banks, savings banks or trading companies grant this type of loan. Almost all banks or other credit institutions were members of the so-called protection community for general loans in 1927, because they have agreed to report every current account, credit card, loan, leasing contract and cell phone contract to entry is hardly available in the country. All financial service providers who offer this variant provide credit from Swiss banks. Therefore,

What happens if a credit check entry is negative?

What happens if a credit check entry is negative?

If you already have a negative credit check information or a negative credit check score and therefore no longer receive a loan from a German bank, you can get a loan without credit check with the help of a financial service provider. The amount and cost of the loan can depend on the creditworthiness of the borrower. These loans are usually brokered between 1,000 or 50,000. All in all, it can be assumed that these loans are always expensive than other loans such as installment loans.
Because especially with a loan without a credit checkentry, the risk of default is much higher and because the loan has been brokered, ie it has additional costs. Because of this, one can count on the fact that these loans are only available under poorer conditions.

What else should you consider?

What else should you consider?

If you choose a loan without credit check entry, then you have to make sure when choosing the respective financing intermediary that you only pay for a loan approval. One should not get involved with an intermediary who always wants to be paid without an intermediary.
However, it cannot be assumed that even if you receive a loan without credit check entry, it will not be checked by the lending bank for the borrower’s creditworthiness. A consumer will only get a loan if the liquidity situation regarding the repayment of the requested loan is realistic. And one thing should not be forgotten, because they are still unsecured loans, which do not require credit checkinformation, but an adequate and intensive credit check will still take place. Because a check is also important for the borrower, because otherwise you can quickly get into debt.

Consumer credit, a support for your income.

Households that try to maintain a rate of consumption are sometimes forced to use consumer credit. This is mainly due to the lack of purchasing power, variations in income, and lack of savings. Therefore, one can say that the access to a consumer credit makes it possible to stabilize consumption and to support the budget.

Calculate the debt ratio

Calculate the debt ratio

Before accessing a consumer credit, you must calculate your debt ratio. It indicates your borrowing capacity and expresses in percentage the difference between your cash inflows and outflows. By knowing your debt ratio, you can know the amount of money you can borrow.

Your income plays a big role in this calculation, because it must be calculated by adding your net wages, your profits, your rents received, your annuities and your pensions received, as well as social assistance and allowances. Once your income has been determined, you must ensure that the repayment of the monthly payments on your loans does not exceed one third of your income, that is to say, 33%.

The amount of fixed charges made up of your current credits, your pensions paid and your rents are also to be taken into account in the calculation. In short, you get your debt ratio by dividing your expenses by your income. You can calculate your debt ratio by making a free personalized simulation online on the websites of certain credit institutions.

Consumer credit helps stabilize consumption and support income

Consumer credit helps stabilize consumption and support income

It should first be noted that there are ways to develop access to cheap consumer credit for households with lower incomes. Manual workers, temporary workers, and employees on fixed-term contracts have the advantage of benefiting from a certain flexibility in terms of granting consumer credit.

Consumer credit is a solution to help you get out of it because your income cannot always support your expenses. You can benefit from stable consumption by knowing what your debt ratio is. By calculating your debt ratio, you can better manage your income by knowing the amount that you must repay and the amount that must cover your consumption.