Loan despite negative Credit Bureau? – In 3 days on account

December 22, 2019 0 Comments

The Credit Bureau is well known to every German citizen. Or? The Protection Association for General Credit Protection (Credit Bureau for short) was founded in Berlin in 1927. In the meantime, the Credit Bureau has been our constant companion when you want to take out a loan.

If you have a negative Credit Bureau, you don’t get any credit from the banks.

How can you bypass the Credit Bureau query and thus get a loan despite “negative Credit Bureau”?

How can you bypass the Credit Bureau query and thus get a loan despite "negative Credit Bureau"?

There are different possibilities for this. But first of all about the Credit Bureau in general: its function, its procedure and the reason why YOU may have a “negative Credit Bureau”.

Credit Bureau Holding AG – the official name – is a so-called credit bureau. Its purpose is to protect your contractual partners (credit institutions, savings banks, private banks and dealers) from the credit default of the customers. In addition, she sees herself as a protector of consumers from over-indebtedness. It collects data from consumers, such as contact details, or their payment history for loans and bills.

Credit Bureau currently has around 462 million data from 66 million citizens, which corresponds to 75% of the German population. In order to present the contractual default probability of a person to its contractual partners, Credit Bureau calculates a score value between 1 and 1000 on the basis of the saved data for this person. The lower the score, the greater the probability of failure.

What does the statement “negative Credit Bureau” mean here?

What does the statement "negative Credit Bureau" mean here?

This means nothing more than that Credit Bureau’s scoring has reached a low value due to negative entries in the data storage. In addition to unpaid bills and other debts, this includes personal circumstances such as unemployment. In short: People with negative payment behavior, or who belong to a “risk group” for loans, rarely have a good score. And that means: no bank loan.

Of course, bills and credits should always be paid (off) and those who do not take any responsibility for it are right to have a “negative Credit Bureau”. But what about those who never let themselves get into debt in this direction and who have a poor score due to their social or professional status alone? Unemployed, freelancers, self-employed. Or those who are guilty of “wrongdoing” but have honestly and honestly ironed it out themselves? Because everyone makes mistakes once. The bank also rejects these people.

If you are one of those people, what can you do about it? The devastating answer: nothing. Nothing, except to look for alternative financing options, because the financial market offers plenty. However, extreme caution is required here. Beware of rushing into “Kredit ohne Credit Bureau” instant payment offers. Something like that quickly leads them to financial ruin. Online platforms for so-called “loans from private to private” offer a safer alternative. There, loans are not brokered by banks, but by private investors. This has the advantage that no Credit Bureau query has to be used. This model of personal loans does not focus on facts and figures, but on the personal level, as private investors are very interested in knowing what their investment is needed for.

One of these internet platforms is auxmoney, for example. There, loan projects are always financed by several investors who invest their money in small portions. If even this model of loan brokering is too unsafe for you, you can of course still ask relatives and friends for financial support. But keep in mind: If you have taken out a loan from an independent company, the entire process takes place on a business level. This is not the case with personal loans from friends and family. In the event of a payment default (whatever can happen due to unforeseen incidents), the friendship is quickly gone. Because everyone knows that friendship ends with money.

If all of the alternatives to bank lending do not appeal to you, or if you are too unsure, then only a tried and true home remedy will help: save, save, save! Because with banks and savings banks you can never get around the Credit Bureau information and with a “negative Credit Bureau” – whether self-inflicted or not – you get no credit.