We would therefore like to invite you to read with a hopeful piece of information. You can hope for a loan in difficult cases. You just have to succeed in moving the correct set screws. You can read about what you can do yourself, what requirements lenders expect in our small guide.
Credit in difficult cases – understand loan rejection
Not every credit request is met with favor by the requested credit institutions. The application is rejected and the search for a loan begins in difficult cases. Few recognize the opportunity that results from the loan refusal.
If a loan application has been rejected by a bank or a savings bank, the notification usually comes in writing. The rejection reason often contains the information that you can use as a guide for a successful loan application in the future. Because every regular lender expects that the creditworthiness is sufficient for the lending and the household bill proves the ability to repay.
Reason for rejection – examples:
– Creditworthiness is not sufficient to grant loans
– negative Private credit checker
– existing credit obligation
– lack of liquidity for repayment
These simple keywords are the solution to your credit problem. If there is a lack of creditworthiness for lending, several reasons can be responsible. Creditworthiness only describes the framework of creditworthiness in a very general way.
If the credit institution lacks confidence in lending, it may already be because you have made several binding credit attempts. Private credit checker saves every binding credit attempt for 6 months. If several attempts are entered, the bank evaluates the information as negative.
Negative Private credit checker:
If your house bank declined and reported the first credit attempt to Private credit checker, you could have saved yourself any further efforts. This brings us to point two of the key words. Before you make a binding loan attempt, you should have received the non-binding loan approval.
If you cannot explain the negative Private credit checker, there may be an error. Once a year, everyone can query their Private credit checker data free of charge and thus exclude unpleasant surprises from the outset.
Existing loan commitments:
Existing credit obligations, even if all installments are paid, could be a stumbling block. In this case, the household bill can often only prove the solvency of the existing liabilities. But arithmetically there is not enough money for an additional loan.
The solution can be a debt rescheduling loan that replaces old liabilities and at the same time extends the loan volume with the additional money required.
Lack of liquidity:
Not only existing credit obligations, but also insurance contributions, club memberships or cell phone contracts tie up liquidity. If the budget bill does not work, you should part with dispensable contractual relationships. In this case, the loan in difficult cases can already be possible if you only look through your old contracts critically.
Difficult credit requests arise whenever current income is insufficient to make the necessary payments on time. A loan is supposed to put finances back on track. Nevertheless, nobody should wait with this step until debt collection companies present themselves or debits burst due to insufficient cover. In both cases, a credit institution has to assume the lack of liquidity to service the loan and refuses.
Special offers – critically question credit intermediaries
Not every credit broker is as bad as the reputation of the business. If you get stuck with non-binding loan requests from regular credit providers, the special loan can be a way out. Banks only rarely advertise credit in difficult cases. You almost always have your potential credit customers pre-selected by intermediaries. This procedure saves the banks from work and ensures turnover in the credit brokerage business.
Unfortunately, the generally shady reputation of the credit brokerage industry is not entirely out of thin air. Numerous reputable sources prove that not every broker really wants to broker a loan in difficult cases. Some try to work with illegal prepayment, others like to sell you insurance. Please research on the Internet what reputation the agent you have chosen enjoys.
When trying to obtain a loan through a classic broker, please also consider that serious credit brokerage cannot work miracles. There is exactly one credit institution based abroad that can offer you a legal loan without Private credit checker. A maximum of a handful of credit institutions from Germany are willing to tolerate a “completed” negative Private credit checker entry.
If the first, established intermediary cannot help with a loan in difficult cases, no other provider can do the trick. In fact, everyone is asking the same sources.
Difficult cases – attempting credit in a private atmosphere
Legal framework conditions increasingly restrict the scope of credit institutions. Risk loans, such as were often offered before the USD crisis, have become rare. For this, the market is booming with loans that are not forced into a corset of legal regulations and requirements for securing loans. Reputable loan offers from private to private are interesting, as each investor is free to decide who to offer his loan to.
For credit in difficult cases, it is advisable to try crediting via Agree Bank or Cream Bank. Both loan brokerage portals are equally regarded as reputable. Even large associations recommend these portals by name. Initially, the credit attempt does not cost anything. It remains up to you until the final conclusion whether you accept the offer of investors to grant your loan in difficult cases.