A negative Credit Bureau information stands in the way of many credit inquiries for approval by the bank. Even if you have a secured income or property that can be attached, it is almost impossible to get a loan if there are Credit Bureau entries. As a result, a market for Credit Bureau-free credit has developed in recent years.
The risks of Credit Bureau-free loans
Many fraudsters have unfolded in this market, who shamelessly exploit people’s good faith and their lack of money. Indications of a dubious loan provider are:
– Service requests via chargeable hotlines
– Fees for the application before lending
– Credit intermediary’s fee claims.
Extreme caution is required in such practices. Here the costs to be paid can quickly exceed the loan amount.
Opportunities for a Credit Bureau-free loan
There are a number of private lenders on the Internet who refrain from providing Credit Bureau information. Here you should take a very close look at the contract terms and compare them with other providers. This includes the amount of the installments, the interest to be paid and the terms. However, you can be relatively sure with Swiss loans. These are offered by Swiss banks up to a loan amount of $ 3500. This is a completely Credit Bureau-free loan, but the other requirements must also be met.
This means that there should be a regular income that allows the installments to be repaid. If this is not the case, other attachable values that serve as security for the bank should be specified. These can be real estate, expensive cars or jewelry and art objects with appraisals. The rates and interest rates are somewhat higher, but you have a good chance of getting such a Credit Bureau-free loan.
Loans, with or without Credit Bureau, always represent an additional financial burden. You should be aware that you have to spend a fixed amount over years to pay off this debt. Above all, the current cost of living should not be neglected.
If at all possible, one should refrain in particular from taking out a loan with a negative Credit Bureau and try to save the money for the required thing in advance. There is also the option to borrow life insurance to make some money in the short term. The possibilities should be checked beforehand so as not to fall into a debt trap that you cannot get out of.