An instant loan with bad Credit Bureau is not a problem, at least that’s what the advertising claims. The article brings you realistic credit options, with almost every creditworthiness situation.
Immediate loan with bad Credit Bureau – find the right loan
There is no credit solution that “fits” for every individual case. Nobody can even offer a “real” instant loan if the Credit Bureau is bad. An instant loan is always a small loan, in which the creditworthiness is determined by the score and the clean Credit Bureau. The evidence to be provided is limited to a minimum. The credit check procedure used is referred to as a simplified credit check. Nevertheless, there are loan offers that promise a fast credit process by advertising for an “instant loan”.
The offers can be roughly divided into loans “without Credit Bureau” and loans “despite Credit Bureau”. The small loan from a foreign bank is advertised as a loan without Credit Bureau. Credit Bureau is completely excluded from this loan option. It neither provides the data for the credit check nor is an approved loan reported to Credit Bureau. As far as is known, all legal loan offers for a foreign loan come only from a Liechtenstein bank. The provider to which the credit offers of reputable credit intermediaries usually refer is Lite Lender Company from Liechtenstein.
The greater selection is available for domestic loan offers in spite of Credit Bureau.Instead, an immediate loan is advertised in spite of poor Credit Bureau almost exclusively through the credit brokerage industry. There are no reliable statements about the number of possible lenders for a loan despite Credit Bureau. But at least one credit institution that grants a loan despite Credit Bureau should be named. Cream Bank, although not mentioned on the website, offers this credit option.
What are the requirements for a prospect of credit?
An instant loan with bad Credit Bureau is not a license to not have to prove your creditworthiness. Credit Bureau’s creditworthiness statement is only disempowered, provided that the ability to repay it can be proven otherwise. The most important prerequisite for proving creditworthiness in the event of creditworthiness problems is a secure job with a permanent employment contract. In the case of loan offers despite Credit Bureau, guarantors or real assets that can be pledged can significantly increase the credit outlook.
With bad Credit Bureau, contrary to what promises of advertising more often, cheap interest is not to be expected with an instant loan. How big the difference is can be seen from the example of a normal small loan over 3,000 USD from the Infra Bank Bank. Regardless of special offers, Infra Bank offers the small loan at an effective APR of 2.89 percent.
Now 3,500 loans without Credit Bureau for comparison, an effective annual interest rate of 11.62 percent is required. The (negative) frontrunner in this loan comparison is credit despite Credit Bureau from Germany. For example, it is hardly worth repaying the current account with an extra loan of USD 3,500. Regardless of the loan amount and term, 11.95 percent APR is payable.
Terms and conditions for the international loan
The offer of Lite Lender Company from Liechtenstein is often advertised as an immediate loan for bad Credit Bureau or Swiss credit without Credit Bureau. If Credit Bureau is excluded altogether, the requirements for the borrower are slightly higher than for loans despite Credit Bureau, and the borrower must again demonstrate a secure, permanent employment relationship. However, it is also checked how long the prospect has been employed by his employer. At least one uninterrupted period of employment of one year must be demonstrable.
In the case of loans from Liechtenstein, the usual level of income is well above the attachment limit. A single person can only qualify for a 3,500 USD credit without Credit Bureau from a net income of 1,130 USD. If you want to apply for 5,000 USD free of Credit Bureau, a minimum income of 1,600 USD is required.
Guarantees or property collateral cannot be accepted. The loan is secured only through a certified assignment of income. Loan security through income is not possible if the attachable portion of income has already been assigned or is attached. In addition, there must be no entry in the public debtor register.
An immediate loan with bad Credit Bureau from Liechtenstein always has a fixed term of 40 months. However, both early redemption and an increase in credit up to the original amount are possible. All of the loans mentioned can be applied for directly from the provider or, often much more conveniently, through a reputable credit broker. If an immediate loan is requested from an intermediary in the case of poor Credit Bureau, additional costs are to be expected.