Apply for credit despite debts online
If debts have accumulated and you have a negative credit bureau entry, the credit rating drops and the chances of a loan commitment are poor. This considerably impedes the financing of larger purchases. It even turns out to be difficult to finance a car or make a cell phone contract. Nevertheless, there are ways to get a loan despite debt.
How do you get credit despite bad credit?
Many banks are very cautious about lending to customers with a negative credit bureau entry. Some banks make an exception to long-standing customers or offer opportunities for rescheduling. Better stand the chances of success with direct banks in the Internet. On the net you also have the advantage of being able to compare many different offers.
In this way, it is easier to find a loan, which corresponds in terms of maturity and interest to their own needs and financial resources. In addition, a quick check is often possible, so that one receives an acceptance or rejection even before the conclusion of the actual loan agreement.
Collateral instead of credit bureau examination
Some credit institutions do not make their commitment dependent on the credit bureau credit check or do not make it at all. In the test, they do not rely on the credit bureau entry. Rather, it depends on other securities. The deciding factors for these banks are the income situation of the applicant. There should be a regular and secure income available that is proven through a salary statement.
In such a case, however, would be hinderlich a garnishment or a fixed-term employment relationship. Even a personal bankruptcy usually excludes borrowing. The likelihood of lending, on the other hand, increases if you as a customer have additional collateral to offer, such as a property or a car. Here are the most important criteria for a loan despite debts at a glance:
- regulated income
- no garnishment, term or personal bankruptcy
- additional collateral
Check and compare
Although you can find a wealth of offers for loans without credit bureau online, how do you find the right loan for your own situation? First, you should check the offers for their seriousness. Good pointers are consumer portals or the reviews of other customers. It is also important that the offer is backed by a well-known and reliable bank.
In addition, one should take a sharp look at the conditions, in particular on interest rate, term and repayment. Basically applies that credit despite credit bureau are more expensive than loans at the house bank. This is explained by the higher risk of credit providers on the Internet. Nevertheless, a new borrowing for the purpose of rescheduling or debt repayment may be useful. Important information about this can give the debt counseling.