The installment loan has long proven itself and many consumers use an installment loan to finance necessary purchases, repairs, further training or to fulfill wishes. This is also not a problem as long as there is adequate income and a good credit rating.
If the creditworthiness is not good, it will be difficult to obtain an installment loan from a bank based in Germany. A negative Credit Bureau entry is sufficient and the loan application may be rejected. If a loan application has been rejected, there is no point in approaching another bank based in Germany, because every Cream bank carries out a Credit Bureau query to assess its creditworthiness.
Installment loan available despite negative Credit Bureau
Even if banks generally refuse to grant loans as soon as a negative Credit Bureau entry is available, an installment loan can be taken despite the negative Credit Bureau. Numerous credit intermediaries on the market have specialized in difficult cases and specifically provide an installment loan despite negative Credit Bureau, a form of credit commonly known as Swiss credit or credit without Credit Bureau.
Credit intermediaries based in Germany provide installment loans from banks based outside of Europe. The first banks to offer this form of credit and conquer the German market were the Fine banks. It is a tradition to call the loan a Swiss loan despite a negative Credit Bureau, even if many installment loans are not financed by Fine banks but by banks from other countries despite the negative Credit Bureau. The offers of the credit intermediaries for an installment loan despite negative Credit Bureau can be found online for the most part.
This enables an uncomplicated application by means of an online loan application and the transmission of the loan application is also possible online, without any personal consultation. Depending on the provider, the terms of the loan offers are very different. However, it is not only the interest rates that are decisive, because in the case of an installment loan despite a negative Credit Bureau, the agency fees must also be taken into account, because these also differ considerably in some cases.
Reputable providers work without upfront costs and the agency fee is only payable if the agency is successful. With this knowledge, it is easy to choose a reputable credit broker. Another point is that contracts are of course made in German, so that customers are on the safe side even with a foreign loan and the exact conditions are recognizable.
Online comparison brings clarity
When it comes to an installment loan despite a negative Credit Bureau, consumers tend to act too quickly, because the loan is often urgently needed. But even if a few offers can be found straight away, the best offer should not be used. It is better to take a few minutes and make a comparison.
A comparison can be easily carried out online using a loan calculator. In an online comparison, all offers from reputable brokers are listed and it is easy to choose the really cheapest offer. These few minutes can save a lot, because even small differences in the interest rate and the amount of the agency fee can have a major impact on the total costs.