A foreign credit without Credit Bureau is advertised not only violently on the Internet, but also in newspapers and magazines. Most of these loans are intended to appeal to consumers who are not eligible for financial support from a credit institution in Germany due to their poor credit rating. But what is behind a foreign loan without Credit Bureau? And is it really that easy to get?
The Credit Bureau is the obstacle
Those who do not get a loan in Germany usually fail at Credit Bureau, which records all credit-relevant data in order to protect lenders from loan defaults. The data collected here can be requested when applying for a loan. If the creditworthiness of such a query turns out to be negative, the chance of a loan decreases considerably. Another path must be taken in order to still be able to get the money you need.
Many consumers then think of a foreign loan without Credit Bureau, and this idea is not that bad. In order to really succeed here, the first step should be to check who is offering such a loan from abroad.
If you cannot contact a bank directly
But you are only dealing with an intermediary, you should exercise caution. This could be a not very serious scam, in which there is only an interest in the money of the seeker and not in supporting him financially.
If, on the other hand, you can establish direct contact with a bank abroad and thus also directly negotiate the loan, chances are good that you will get money. Because foreign banks have no access to Credit Bureau data. You secure yourself in other ways.
For example, the bank will require meaningful proof of income that shows income that enables the loan to be repaid. The bank will also inquire about additional collateral. Valuable items are also taken here, the possession and value of which must be proven. In addition, the bank may raise interest rates a little in order to be able to grant the loan to its foreign customer.
Once you have been awarded a foreign loan without Credit Bureau, it is usually very quick. The money will be transferred to a specified account and will be available within a few days.