Anyone who thinks about a loan application has to think a lot in advance. The question of whether you can get a loan at all is particularly important. It is not uncommon for people who have a bad Credit Bureau to try to apply for a normal loan. This project fails due to the strict guidelines of the banks, which want to keep the credit default risk as low as possible.
Applicants should know that a bad Credit Bureau can severely depress creditworthiness and the risk of rejection is very high. It is also good to know that every specific application is noted in the Credit Bureau, which in turn can lead to rejection. Those who have a bad Credit Bureau and have already been rejected by the bank may want to take out a loan despite a negative Credit Bureau.
What does the customer need to know about the loan?
The loan is given abroad despite a negative Credit Bureau. In the past it was common for the loan to be granted only in Switzerland, nowadays the loan often comes from Lichtenstein. But nobody interested in this loan has to go to Lichtenstein. It is enough to find a broker who specializes in this loan and can answer all important questions.
Customers receive a form from this, which the bank will later need to decide whether to grant a loan or not. Information that must be entered here must always be true. If this is not the case and the bank gets it out, the loan must be repaid immediately despite the negative Credit Bureau and a lawsuit can arise.
The information includes information about yourself and questions are asked regarding the loan. The loan amount, the term and the monthly installments should be considered in advance, since these must be entered here.
People who are excluded from lending
Customers who receive unemployment benefits, pension payments or training salaries are immediately rejected by the banks. They either earn too little or receive payments from the state. These payments are not attachable and do not count as income. Banks abroad have to do without Credit Bureau, but not other forms of security such as a fixed salary. This is necessary so that the loan can be secured.