The situation for the desire for a loan without proof of salary and private credit bureau is a difficult undertaking. A private credit bureau-free loan is mostly sought by people whose private credit bureau files have a negative characteristic. No bank in Germany meets these requirements with which the loan seeker is looking for a loan.
Banks conduct a private credit bureau query before lending. No bank issues a loan if it shows abnormalities such as reminders or the like. The criteria for granting a loan are a clean private credit bureau and a sufficient income. Nevertheless, a loan can be realized without proof of salary and private credit bureau.
Unemployed person or a student needs a loan
Loans without private credit bureau are usually granted by foreign banks. But these banks require proof of salary, even if they don’t get private credit bureau. However, property and real estate can also be submitted to foreign banks in order to obtain credit protection. A loan seeker who cannot provide proof of salary need not be without income. Especially self-employed or freelancers who do not have a regular income cannot provide proof of salary.
Even an unemployed person or a student needs a loan and cannot provide proof of salary. A German bank usually only grants a loan if proof of income can be presented or if other security is available. This can be a capital insurance, real estate, real estate or other investments. The bank pledges this security in the event of insolvency.
To get a loan without proof of salary and private credit bureau, a guarantor can also be named. A bad private credit bureau and no proof of salary is not the end of credit opportunities. A loan without proof of salary and private credit bureau which is underpinned by a guarantor is the best means of securing a loan that a loan seeker has. A financially strong guarantor minimizes the credit risk significantly. If there is a default, the guarantor is liable for everything. But taking out a loan guarantee for another is more than risky.
Even if the borrower has an excellent credit rating, it is a risk for the guarantor. A guarantee can end in financial ruin and should never be used lightly. To give the guarantor a little security, it is recommended that the guarantor has unrestricted insight into the financial situation of the borrower. This is the only way to ensure that a rate that has not been paid has been concealed due to false shame.
It is always cheaper for a guarantor to pay an installment than to pay a canceled loan. The best way to have control is by transferring the borrower to the guarantor. In addition, a guarantee can only be given if the conditions exist that the guarantor can possibly take over a loan default without problems.
The financial risk is too high for the banks if no proof of salary can be presented. Therefore, self-employed and freelancers find it difficult to get a loan. Without collateral, the banks do not grant a loan. If the above conditions cannot be met, the following options may still remain. Getting a loan without proof of salary and private credit bureau would perhaps be possible in the family, acquaintances or friends.
A private loan would have the advantage that the loan seeker does not have to pay interest or only low interest. Better options can also be agreed in terms of repayment. It is important to build trust in this credit process, because if someone has no prospect of their borrowed money, they will not forgive anything. As a loan seeker, you should offer a small interest rate on your own and also determine the repayment period and that with a contract. A monthly repayment can be agreed, for example.
If there is no lender, the pawnshop ultimately remains. Here you can move valuable objects that have a material value. Pawn shops in particular are heavily frequented in times of poor economic conditions. A loaned item represents a problem-free loan in processing and disbursement, which does not require a credit check or private credit bureau information. Proof of income and applications do not apply to the pawnbroker.
Lending or pledging material goods can be an attractive instant loan. The interest to be paid is much lower than with a bank loan. The term is set at three months. It is advisable to adhere to this, otherwise the loaned items will go into the auction. Profits generated from this are transferred to the borrower.