Anyone who needs a loan but has negative Credit Bureau entries must expect a loan rejection. The loans in Germany are usually only granted after a Credit Bureau query, which should also be positive. So if you have negative Credit Bureau entries, you normally have little chance of getting a loan.
Instant credit without credit check as an alternative
In the event of a negative Credit Bureau entry, instant loans without a credit check can be considered as an alternative. This type of loan is often offered by foreign banks, but there are also more and more German providers for it, since the demand for these loans has increased drastically in some cases.
Requirements for instant loans without a credit check
In order to get instant loans without a credit check, some requirements have to be met. As a rule, this means that the borrower is in a permanent employment relationship, which must not be terminated or limited. The borrower’s income must also exceed certain limits in order to be able to repay the loan. Males under the age of 23 need a certificate that they have already done military service or alternative service or are exempt from it.
What needs to be considered for instant loans without a credit check?
Furthermore, it must be borne in mind that instant loans without a credit check are usually somewhat more expensive than normal loans with a Credit Bureau query since the bank does not run a higher risk with regard to the default risk of the borrower’s payment if the customer does not carry out a credit check. It is therefore all the more important that a comprehensive credit comparison of the numerous providers of instant loans without a credit check is carried out, since the costs incurred can sometimes differ drastically between the different providers.
The comparison is very quick and easy on the Internet on numerous websites with special comparison portals. It is just as important to inform yourself about the respective providers accordingly, since unfortunately there are also many black sheep in this area who are only careful to rip off the people who are in need of money. Therefore, you should get enough information about the different lenders. This is also very easy to do on the Internet. There are numerous forums in which users share their own experiences with certain providers.