The search for a loan without Credit bureau entry, which is not reported to Credit bureau when approved, ends in the international loan. Only credit institutions from abroad refrain from reporting credit to Credit bureau, and we have summarized all the information you need to apply for a loan without Credit bureau.
Credit without Credit bureau entry – exclude the Credit bureau
Of course, the Credit bureau is an important tool for the protection of creditors. As far as possible, it sorts out the black sheep from the debtors. Without institutions that collect data on orderly payment behavior, a modern financial system with low interest rates would not work. Examples from the third world, with interest rates of 10 percent per month, show what it looks like without a secure system. Nevertheless, there can be good reasons to look for a loan without Credit bureau entry.
In many cases, a negative Credit bureau entry without a settlement note is the reason for the loan search. Nevertheless, people with the best credit rating are also looking for a small loan, the approval of which is not reported to Credit bureau. As a rule, you are planning a larger future investment. Most of the time, house building is on the agenda. The loan hidden abroad is not reported to Credit bureau. The home loan lender does not see the hidden debts and offers the best possible interest rate.
The loan search for a Credit bureau-free international loan takes place via magazines and especially the Internet. Terms such as Swiss credit or housewife credit characterize the advertising. Unfortunately, superlatives with which Credit bureau-free financing is being advertised are increasingly being discovered in the present. Either the appearance of a particularly high financing solution is given or the help in hopeless credit situations is indicated.
Credit check for Credit bureau-free loans
A lot of things are “put on” a loan without Credit bureau. Loan amounts of 50,000 USD are indicated. In an advertisement, credit options were even hinted at 250,000 USD. A Credit bureau-free credit option is also advertised by foreign banks for the unemployed and the self-employed. All of these advertisements are smoke and mirrors. There is currently only one serious loan from a legal credit bank approved for lending in Germany.
Since 2010, all research has led to only one legal loan provider. It is Demo lender bank from Liechtenstein. The credit check for the Liechtenstein loan, regardless of whether the application was made directly or through a reputable credit broker, is always the same. A check is carried out to determine whether there is a permanent employment relationship subject to social security contributions and whether it has existed for at least 12 months. (Special regulation for time soldiers). For 3,500 USD credit, the net working income must exceed the garnishment exemption limit by at least 80 USD.
In addition, there must be no garnishment of wages or the salary must have been assigned to another creditor. The loan is secured only through a comprehensive assignment of income. Guarantees or property collateral are not permitted. In the last step of the credit check, the public debt register is queried. An entry there, for example the submission of the affidavit, basically excludes a loan without Credit bureau entry.
Loan amounts and conditions for direct loan applications
Credit bureaufrei can apply for funding directly from the credit bank or through a credit intermediary. There are no special conditions for credit intermediaries, such as faster processing or lower interest rates. Only two loan amounts can be taken into account. A loan without Credit bureau of USD 3,500 or USD 5,000 is possible. Only one loan option is possible per applicant. If you apply directly, without credit intermediation costs, you have to pay 11.62 percent effective annual interest for 3,500 USD.
This effective interest rate includes all credit costs for non-cash payments within the agreed term. External costs, credit intermediaries, postage etc. are not included. A loan without Credit bureau entry is always repayable in 40 constant monthly installments. For $ 3,500 loan amount, $ 105.95 is repaid monthly. All repayments together result in a repayment amount of 4,238 USD.
For a loan without Credit bureau entry with a net loan amount of USD 5,000, the Liechtenstein credit bank calculates 11.61 percent effective annual interest. Again, all costs over the term, except third-party costs, are recorded. This Credit bureau-free loan is repaid in 40 monthly installments of USD 151.35 each. A total of 6,054 USD will be paid off. In order to qualify for this loan, a single applicant must provide evidence of at least 1,600 USD in net work income.