For people who are in a financially difficult situation, instant loans without credit check are a good way to get money. Since the credit institutions do not carry out a credit bureau- and no or a very generous credit check, a loan payment is also possible for indebted persons. These loans are characterized by fast processing and payment. Unfortunately, most of these loans have an interest rate that exceeds that of a “normal loan” quite a bit.
Where do you get a loan from?
At the present time, there are a large number of credit institutions that pay out instant credit without a check and credit rating. Due to the large number of credit fraudsters, various loan providers should be compared and reviewed before signing.
In addition, usually only an amount up to 3,500 euros paid to the consumer. In order to qualify for such a loan, a fixed employment relationship and a minimum wage of € 1,070 per month must be available as a rule. This gives banks the certainty that they will receive the money they have borrowed from the debtor.
How is the application and payment made?
If the consumer is informed by the bank, the corresponding, fully completed loan documents will be sent to the bank. Identification and verification of the signature is regulated by many providers through a post office. Here, the consumer with the signed loan documents, his identity card or passport and a post-ID coupon to visit a post office.
Now an employee of the branch checks all personal data, as well as the signature and sends the entire documents to the bank.
Moreover, with this method it is possible to send the documents scanned to this employee. If the complete documents have been sent to the bank, the application will be processed directly. Thus, this method can speed up the payout in a few days.
What else should be considered?
In addition, care should be taken in the contracts on hidden costs and insurance benefits. In the case of a loan from the principal bank, insurance is usually provided in the event of sick leave, unemployment and death. These can be completed at a relatively small additional cost.
For some instant loans without credit assessment, the cost of such services may be higher or even not exist.
However, this is partly the case with “normal loans”. In order to be familiar with all the facts, the contract documents should be thoroughly read before signing and if you have any questions, please contact the relevant bank.
5 tips on instant credit without credit rating
1. procure loans abroad
Without credit, which usually means that the score at the credit bureau is below 10 points, it is almost impossible to get a loan from a German bank. Therefore, here only the way remains abroad, in which credit intermediaries are commissioned to find a suitable offer.
2. Improve creditworthiness
One way to enjoy credit in Germany is to supplement your own credit rating. Of course, negative entries in the credit bureau can not be deleted in this way, but in some cases exceptions are made if the entries are not quite as massive. Thus, the prospect should cancel all unused accounts and cards and try to obtain a credit line.
3. Guarantors and collateral
The easiest way is to have a guarantor take a loan. But even here caution is advised, because who does not have a credit rating, can not sign the contract also. Thus, the guarantor becomes the sole borrower, which obliges him completely to repay. Therefore, a guarantee contract should be concluded here. Those who have the option should first provide other collateral.
4. Possible detours
In principle, there are also detours that can lead to a loan without creditworthiness in Germany. The credit rating usually says only that at the time of borrowing is not sufficient funds available to pay off the loan. However, if the credit bureau is clean and all debts are paid off, the hurdle of credit rating is not that great anymore.
5. Exclusion criteria that should be known
Of course, there are also criteria that completely exclude a person from borrowing. This applies not only in Germany, but also in most other countries of the world. Anyone who has issued an arrest warrant in the Shufa or in court will not receive a regular and legal loan from anywhere in the world. This is also called “financially dead”, because here is not only the credit rating to zero, but also their own reputation completely damaged.