It is not always possible for the consumer to take out a loan. It is often advertised that you can get a loan without Credit Bureau, but that is practically impossible in Germany. Banks in Germany never waive the Credit Bureau test.
In order to be able to apply for a loan without Credit Bureau, the customer has to find a foreign bank. This instant credit without Credit Bureau and no upfront costs is very often granted to German citizens here and also has advantages that are attractive.
What is the instant loan without Credit Bureau without upfront costs?
The instant credit without Credit Bureau without upfront costs is a foreign loan. This loan is often granted in Switzerland, Liechtenstein or Belgium. The advantage of this loan is that the customer does not have to fear that it will be checked with the help of Credit Bureau. The Credit Bureau examination is not carried out abroad at all, so that the loan taken out is not even recorded in the Credit Bureau.
In the case of instant credit without Credit Bureau, banks primarily check the applicant’s salary without any upfront costs. This is particularly important because the salary must secure the loan and be attachable. The attachability is a prerequisite, as this is the only way the bank can react to a loan default and issue a garnishment in order to get the money.
Credit broker handles all important matters
A credit broker is sought if the customer does not want to go abroad for the application for an instant loan without Credit Bureau at no extra cost. This sends the customer documents that need to be filled in and contacts various banks for offers. As soon as there is one in the offers that corresponds to the customer, the customer can fill out an application and sign the contract.
Once the bank accepts the contract, the credit intermediary must be paid. The fee for this is set right at the beginning so that the customer will not experience any surprises. The loan amount will then be transferred to the checking account within the first week or two.