If you need a loan in this country, go to your bank and apply for it. Before banks approve a loan, they check the creditworthiness of their customers. Income is put to the test, Credit Bureau is queried and a permanent position is checked. If the conditions are right, the customer receives his credit. But there are more and more indebted citizens in Germany who are struggling with poor creditworthiness, which may result in a loan refusal. Negative entries that worsen the creditworthiness then prevent normal loan applications. A 3500 USD loan without Credit Bureau is now available for these customers.
Swiss credit and his career
A credit without Credit Bureau is intended for people whose creditworthiness has suffered. So-called Swiss loans have been around for a number of years. The name of the loan type has to do with the fact that the loans came from the Swiss Confederation without exception a few years ago. A 3500 USD loan without Credit Bureau is processed by credit intermediaries. Until 2009, Spin Lender was a major loan broker, which at that time had a monopoly on this type of loan.
At that time, a court decision was issued in which Spin Lender was prohibited from lending to Germans. The reason was a non-existent banking license. The resulting gap in Credit Bureau-free loans was filled by Liechtenstein’s Fine Bank, which had this license. The bank started its work in the Credit Bureau-free loans department in 2010. As far as is known, another foreign bank does not have this license. The 3500 USD loan without Credit Bureau therefore comes from Liechtenstein. The name of its country of origin has been retained.
The 3,500 credit without Credit Bureau and its prospects
But what is special about this type of loan? The bank from Liechtenstein provides loans for loan seekers who have bad credit and no longer receive credit in this country. Well, she doesn’t do it out of sheer pity, because the bank makes good money from these loans. The reason is to be found in the interest rate level. The 3500 USD loan without Credit Bureau has an interest rate of more than 10%. If the credit rating is weakened, up to 15% is required.
If you contrast this with a German installment loan with a Credit Bureau query, you get this loan at around 3% but with a good credit rating. The creditworthiness is just as important as the clean Credit Bureau to get a loan in Germany and Liechtenstein. The LItebank in particular demands a sufficiently high income, which must be above the garnishment limit. A single person must therefore earn at least 1,100 USD net. With a four-person household, it is at least 2,000 USD net.
Permanent employment and legal age are also important. The residence and the current account should also be in Germany. The Credit Bureau is irrelevant because it is not relevant in this country. However, the bank takes a look at the public debt register. If she finds an oath of disclosure, loan terminations or bankruptcies there, this is a credit exclusion.
If the customer pays the 3500 USD loan without Credit Bureau on time, Credit Bureau will not be informed of the loan. It should be said that this type of loan is standardized. The 3500 USD loan without Credit Bureau has a term of 40 months. Nothing can be changed in the runtime, nor in the rate. For the 3500 USD loan without Credit Bureau, it amounts to 105.00 USD. The bank will provide a loan of USD 5,000 if the income is adequate. But in most cases, customers qualify for the 3,500 USD loan without Credit Bureau.
The 3,500 credit without Credit Bureau – the conditions
There was a change on the part of the bank in 2014, and interest rates were also standardized. The interest rate for both loan amounts is now 11.38% APR. The permanent position required for this loan must have existed for at least 12 months. Anyone who is in the trial period or has a fixed-term employment contract will fall outside the bank’s grid. Even the unemployed and self-employed are predestined for the 3500 USD loan without Credit Bureau. For the unemployed, it is the state benefits that he receives and that must not be seized and the self-employed can in most cases not prove a stable income.
Regarding income, it must be said that it must have an attachable portion of at least 90 USD. The loan is advertised that the loan amounts often move up to 50,000 USD and more, but none of this is correct. Most of the approved loans show a small loan of 3,500 USD.
The 3500 USD loan without Credit Bureau has the advantage that it is not earmarked. It can be used freely. There is also no need to talk to the house bank, which is often embarrassing to many customers due to the somewhat poor financial situation. The loan can be taken out practically anonymously. Neither the house bank nor Credit Bureau receives any news about the Swiss loan.
A loan seeker should also put his income against his expenses with a 3500 USD loan without Credit Bureau. This tells him whether he can afford a loan at all. Foreign credits in particular must be paid correctly. The customer must sign a garnishment of wages as soon as the loan application is made. If there is a default, the bank will pledge immediately.
In order to get a 3,500 USD loan without Credit Bureau, the bank must have a pay slip, some also require bank statements and a copy of the employment contract. Income is the be-all and end-all of a loan without Credit Bureau, because if that is not enough, there will be no Credit Bureau-free credit.
According to the customer’s financial situation, the bank can also ask for other collateral. Especially when the income is rather low and the budget is only slightly higher than the credit rate. If the customer is predestined for a higher loan amount, collateral is required.
This can be a loanable life insurance, a property or a co-applicant or a guarantor. These guarantees are made dependent on the loan amount.
The loan application is made quickly, the customer does not have to go abroad, but can apply for the 3,500 USD loan online without Credit Bureau. Once the bank has inspected the necessary documents, a loan approval or loan refusal is sent to the customer.