A loan without Credit Bureau and proof of salary is not easy to find, but a few credit options are possible. The article provides more information about credit options without Credit Bureau.
Loan without Credit Bureau and proof of salary – the problem
A loan without Credit Bureau and proof of salary is problematic in several ways. There are loan offers in which the Credit Bureau is excluded on the capital market. Access to this loan option is provided through the service of a reputable credit broker. The use of such a loan is not cheap. The usual effective annual interest rate for the loan without Credit Bureau is comparable to the usual overdraft facility. Currently (as of September 30, 2013), a Credit Bureau-free loan costs between 11.61 percent and 11.62 percent APR.
The second problem that shows up alongside the high costs is securing credit. Outside of self-employment, loans without Credit Bureau are only secured via a proof of salary. In this case, the proven income must be assigned. Without proof of a secure income from an open-ended employment relationship, the loan search quickly ends up in a dead end.
Recognize risks when looking for a loan
The change of the credit intermediary is not very promising. Almost all reputable loan offers for Credit Bureau-free loans refer to the same loan provider from Liechtenstein. Offers that were found in large numbers before the financial crisis – from Ireland or Spain – have disappeared from the market across the board.
The European financial crisis and international political agreements have thinned the market for venture loans. The likelihood of going online with an unfair provider when looking for a loan is high. In the area of legal gray areas, a lot of stupid things are being pushed through credit advertising for extremely difficult credit situations.
Hidden preliminary costs must be expected in the contract or the general terms and conditions. You will also be due if the placement attempt is unsuccessful. It is really expensive to respond to the call for a call on an expensive service hotline. Another typical scam is selling an insurance or savings contract. Reputable credit brokers and the media can only appeal to postpone the loan search until the initial situation has improved.
A credit, no matter how the person concerned behaves, is guaranteed not to be given by “rip-offs”.
Escaping the credit crunch without proof of salary
A loan without Credit Bureau and proof of salary is almost always sought out of a desperate financial situation. Nevertheless, not every credit crunch is a “real” emergency. If the loan is sought in an acute emergency, the need is demonstrable. An example of such a situation would be the urgently needed repair of the cooking facilities.
Families with young children in particular have at least legitimate credit hopes when they turn to charitable organizations. Churches and charities, but also some municipalities, have credit facilities available for cases of hardship. Repayments can be made in tolerably small installments. In addition, such emergency loans are always interest-free.
If the loan is sought without Credit Bureau and proof of salary for the rent deposit, the ARGE has ordered the move, the all-clear can be given. In this case, the consortium must grant the loan. It is interest-free and only has to be paid back after employment.