A bad credit rating is not necessarily based on a negative private credit information. The instant loan is a loan that has a simplified credit check procedure. The credit rating can also be reduced by a low income and existing credit obligations. An instant loan despite bad creditworthiness is not possible in real terms. It turns the instant loan into a full credit check. Under certain circumstances, the favorable credit rating independent lending rates of various instant loan offers can still be obtained.
The instant loan despite poor credit rating
Borrowing is a given today. Normally, loans are also given quickly if the conditions are right. However, if payment difficulties have arisen in the past, a loan has been terminated, and then an instant loan with bad creditworthiness can cause difficulties. Because these facts always cause a negative entry in the private credit.Because German banks query before a loan commitment to the private credit it is clear that the bad private credit limits the credit approval or completely prohibited.
If you urgently need a loan, you should seek a solvent sponsor. With a guarantee, an instant loan, despite its poor credit rating, has positive approval opportunities. However, to give a guarantee that it is not a small friendship service, but it can ruin a guarantor financially. Just then it comes with the borrower to defaults and the guarantor is taken into recourse. If the latter no longer has any resources or if he can no longer meet his own financial obligations, the financial outlay can come quickly. Anyone who does not want a guarantee from anyone can also provide other security (real estate, life insurance, old-age provision).
The internet is full of advertisements with credit intermediaries who also broker loans in difficult cases. In the advertising foreign banks are advertised, which also give an instant loan despite bad credit rating. The only advantage of these loans is that the private credit information is excluded. However, a regulated and sufficiently high income must be demonstrable.
The income should be above the attachment exemption limit. That would be at a 5,000 euro loan for a single person 1,600 euros net income. A permanent employment relationship must also exist. Since a bad credit rating is not always accompanied by a negative private credit entry, Hartz IV recipients and the unemployed have a bad credit rating, which here the income is too low. With a guarantee or other collateral, the foreign banks might also get credit.
In order to determine the amount that may be available to repatriate the loan, banks will offset the expenses and revenues against each other.
Since an instant loan is usually settled via the postal service, there can be no immediate credit as the name implies. Although the documents are checked quickly, the loan approval is made quickly and the transfer of the loan amount to the specified account. But not all the same, up to four business days can go into the country until the borrower can dispose of the money.