A credit with negative Credit bureau information can be the last credit opportunity in a difficult financial situation. Loans without Credit bureau are advertised quite extensively. Accepting such an offer does not always lead to the hoped-for credit success.
Credit with negative Credit bureau information – starting point
A loan with negative Credit bureau information is sought out of a difficult life situation. The poor income situation has led to the debt growing steadily. A negative Credit bureau entry was the inevitable consequence of the financial imbalance. It is no longer possible to grant a normal bank loan. Often, unexpectedly high bills come in and make the living situation even more difficult. The situation is desperate. Without a loan, the life model breaks down.
Anyone looking for a loan from this situation clings to every straw. If a credit intermediary cannot help, the credit attempt will be repeated for the next offer. The risk of dubious traders going online is considerable. All kinds of tricks are used to try to take the last money out of people’s pockets. Prepayment, an expensive service phone number or taking out life insurance, these are common methods of fraudsters.
Credit without Credit bureau – who gets it?
Not all applicants get a loan with negative Credit bureau information. The prerequisites are either a good income, a secure job and a paid Credit bureau entry. The second alternative is a solvent guarantor who is liable for the loan or an unencumbered valuable property security. Real estate ownership, a long-term savings contract or long-term life insurance would be possible.
If you do not meet any of these requirements, you will not get a loan. If the big credit brokers try unsuccessfully, then no unknown broker can help either. There are only a few specialist providers who can approve the loan. The established providers are guaranteed to inquire about all options. With a paid Credit bureau entry, there are about 20 providers that are eligible.
What are the credit costs?
Of course, the loan offers are not always the same. The most frequently offered loan with bad Credit bureau is only granted in two sums. A possible 3,500 USD at an annual percentage rate of 11.61 percent. The second option offers a loan amount of 5,000 USD at 11.62 percent.
Both loan offers can only be concluded over a period of 40 months. With a loan amount of 3,500 USD, this results in a monthly installment of 105.95 USD. With a 5,000 USD loan, it is 151.35 USD per month.
Alternative private lenders
There is another option that offers credit opportunities with a negative Credit bureau. That is the private loan. For private lenders, too, the appeal is to stick to the large, established portals. The success of the portals attracts free riders.
Publication and all certificates are free of charge from the two market leaders. The majority of all investors who invest in private lending are represented on these two portals. If a loan with negative Credit bureau information is privately possible, then the market leaders have the best prospects.