If a negative Credit bureau entry reduces the creditworthiness, then many borrowers face a bigger problem. Because it is the Credit bureau who often decides whether to accept or refuse a loan. Many banks and credit institutions have had a rather strong demand for loans in recent years, which can also be granted with a poor credit rating.
But the traditional banks do not want to get involved in such a contract. A credit without a credit rating is not feasible for them because they lack the collateral here. After all, poor creditworthiness means that the prospective customer has already failed to meet his payment obligations at least once. Who should testify that he will not do it again this time?
Only the rocky path leads to the goal
For this reason alone, you have to take the somewhat rockier path for a loan without creditworthiness and look for other alternatives. For example, credit intermediaries often offer the option of a loan with no credit rating. What sounds good can ultimately turn out to be a trap. Because the intermediaries charge a commission, which is to be paid as preliminary costs. Only then do they start looking for a suitable loan partner.
Nobody can say whether this is found. In addition, the intermediaries do nothing else than you could do yourself if you are familiar with the Internet. Because the search for a suitable partner for the loan takes place exclusively on the Internet.
Take out a loan abroad
Apart from the intermediaries, you can also take out a loan abroad if you have creditworthiness problems. The foreign banks have no options to ask the German Credit bureau for information. This makes it impossible to query the creditworthiness and the borrower can – provided he meets all other requirements – take out a loan in this way. The demands made here are the same as those in Germany.
Because even abroad, you rely on an unlimited employment relationship and an income that matches the amount of your loan request. In addition, it must be possible to provide security that can also be requested from abroad if necessary. So one should not assume lightly that nothing can happen to a loan from abroad if it is not serviced. The banks are now so well positioned that they can carry out a garnishment without any major problems.