Who gives an instant loan to a negative Credit Bureau, what requirements are to be met and when is the credit in the account. The article provides answers to the central questions in the loan search for a Credit Bureau-free, fast loan solution.
Immediate credit with negative Credit Bureau – sometimes it has to be quick
People who want a quick credit solution despite a negative Credit Bureau are looking for an instant loan with a negative Credit Bureau. Many prospective creditors are under massive time pressure. An invoice must be paid. Maybe the car is also causing problems and needs to be repaired immediately. This is the only way to ensure mobility and thus accessibility to the workplace. The time factor therefore plays an important role. Due to the negative Credit Bureau entry, quick payment, as usual, is not possible via the overdraft facility.
Instant loans are considered the fastest and most convenient solution for loan requests that require an installment loan under time pressure. With a real instant loan, a loan payment can be expected within just a few working days. Fast processing is made possible by a simplified credit check procedure. Only the good score, the clean Credit Bureau and the simple household bill are checked. It is particularly convenient for the applicant to forego extensive documentation and submit numerous documents. As a rule, a copy of the pay slip is sufficient for quick credit approval.
In view of the small loan amount, for example 3,500 USD, it is no problem to use an instant loan under normal creditworthiness conditions. Why shouldn’t there be such a credit option without Credit Bureau?
Precisely because instant loans enjoy this good reputation, the term shapes the advertising of credit intermediaries. The offer for a serious instant loan with negative Credit Bureau therefore does not have to be searched for long. It fits the image of the advertisement that the loan is given by a foreign bank without Credit Bureau. Everything points to an everyday immediate credit, only Credit Bureau is waived.
Credit without Credit Bureau is not an everyday instant loan
Unfortunately, the loan advertising for “Swiss instant loans with negative Credit Bureau” goes beyond the target. An instant loan, regardless of which credit institution it comes from, works with the credit rating data of a credit agency. For Germany, it is Credit Bureau that provides the data for the credit decision. In the case of a loan without Credit Bureau, Credit Bureau is excluded. The creditworthiness must be checked in another way.
There is therefore no instant credit with a negative Credit Bureau. The same applies to advertisements that promise rescheduled loans without Credit Bureau with availability within three days. Without Credit Bureau, then also from abroad, the letter mail with the application and supporting documents already takes longer than three days.
As far as is known, only one bank currently – legally – grants non-Credit Bureau-free foreign loans. It is Lite bank from Liechtenstein. All legal loan offers from German credit intermediaries must therefore necessarily refer to this offer. The credit bank does not offer express or instant credit on its website or by telephone.
Advertising for foreign loans without creditworthiness is also exaggerated. If you want to qualify for a Swiss loan with a bad Credit Bureau, you have to provide comprehensive evidence of your creditworthiness. Only those interested in credit who have been employed by the same employer for at least 12 months have chances. The employment contract must be unlimited and not terminated. There must be no seizure of wages and the income from work must not have been assigned. The level of income of the net work income must clearly exceed the limit of non-attachability.
Credit conditions without Credit Bureau – summary
The following conditions for an immediate loan with a negative Credit Bureau apply to direct loan applications without intermediaries. (As of November 2, 2013.) The annual percentage rate includes all loan costs outside of possible third-party costs. The minimum net income referred to relates to a single applicant without maintenance.
Only 3,500 USD or 5,000 USD credit can be applied for.
For 3,500 USD loan, 11.62 percent effective annual interest is calculated.
The effective annual interest rate for a loan of 5,000 USD is 11.61 percent.
Repayment is always made in 40 equal monthly installments.
For 3,500 USD credit without Credit Bureau, a minimum income of 1,130 USD applies.
For a USD 5,000 loan, at least USD 1,600 net must be proven.
Borrowers who have applied for an immediate loan with a negative Credit Bureau in Liechtenstein state strongly fluctuating payment periods. The fastest loan payment, with direct application, was named with seven working days. However, a borrower had to wait for his money for more than six weeks.