Month: December 2019

Loans without Credit Bureau from the internet

Loans without Credit Bureau are promised on the Internet and also in many newspapers and magazines. However, if you then take a closer look, many offers give the feeling that the advertising is just a big deal with the hope of the loan seeker. Because many of the offers are dubious and ultimately do not lead to the desired and probably urgently needed loan.

We have therefore put together all the points of contact where you can really find loans without Credit Bureau. In addition, we would like to explain the relationships between Credit Bureau and lending and show what should be considered when taking out a loan that does not require Credit Bureau to ask.

No loan without collateral

No loan without collateral

In fact, every consumer should be aware that you need a debt counselor rather than a bank if the latter does not agree to lending. Because a rejection of a loan application always means that the prospect is not creditworthy. So that his requirements for borrowing are too weak.

In most cases, it is the Credit Bureau that prevents borrowing. If this has saved negative entries, no credit is generally possible at German banks. Because negative entries always indicate open liabilities that the borrower cannot pay. So why should the bank lend money in such circumstances that it is unlikely to get back?

In Germany, it is important that a loan can only be obtained if the borrower provides sufficient security. In addition to a good income, this is also a good Credit Bureau, which must be shown. If the borrower does not have this good Credit Bureau, he will only get a loan from a German bank if he has a second borrower at his side. If he can show a good Credit Bureau, borrowing is quite possible. Loans without Credit Bureau would then no longer be necessary.

The foreign loan

The foreign loan

Loans without Credit Bureau can only be taken out in Germany to a limited extent and under difficult conditions. But if you go abroad as a loan seeker, the whole thing looks completely different again. Foreign banks do not have access to the data of the German Credit Bureau, so they base their loan contracts on other collateral.

As an example of good loans without Credit Bureau, we would like to name the Sigma credit bank from Liechtenstein. The bank specialized in the granting of foreign loans years ago. And in a very serious way. Because the loan offer that exists there is not extensive and promises things that can not be kept. Rather, it is very compact and tailored to customers so that the bank and customer benefit from it.

For example, Best Bank only offers two fixed loan offers that cannot be changed. Once the loan with 3,500 USD and once the loan with 5,000 USD. More is not possible and the bank does not allow two loans to be taken out if more money is needed.

Both loan options are accompanied by an effective interest rate that is just over 11 percent. The interest rate is fixed and is not based on creditworthiness. The loan is repaid in 40 monthly installments. The loan can be applied for directly on the Internet. The bank has all the necessary documents on its website. An intermediary is therefore not required.

The money is only transferred to a reference account and is not transferable to another person. The borrower can be the one who has a fixed income from a permanent job. The income must be above the garnishment allowance.

Do not use dubious offers

Do not use dubious offers

If the need is particularly great, then you are also happy to be blinded by dubious offers. Then the mind turns stubborn and the urge to solve the problem takes over.

The dubious credit brokers are only waiting for moments like this, letting highly indebted people believe that they can get loans without Credit Bureau. In order for this to succeed, the prospective customer should always first pay senseless fees, take out useless insurance or agree to fixed savings contracts from which there is no way out. With all of these things, the intermediaries earn an average of 380 USD per damaged consumer, without which even a credit contract has been concluded. As a rule, this does not exist because the intermediary has earned his money and is therefore no longer interested in getting the borrower a suitable loan.

As a victim, however, one should not simply accept these machinations, but resist them. And with legal means. Even if the contracts have already been signed, there are always ways to get out of them.

Categories: Uncategorized

How Does Credit With Online Decision Work?

For a long time, loans have not only been applied for at the house bank or another bank with a branch in the home town. The internet credit market has been booming for years. Initially only used by the direct banks, it is now also the traditional banks with branch operations that can no longer live without the Internet and therefore offer their products here. The competition on the Internet is therefore particularly great. For us as customers and users, this means that we can skim off the cream and only have to use the best offers.

Among other things, it makes sense to take out a loan with an online decision. A credit request can be made conveniently from the comfort of your own sofa and answered in the same way within a very short time. Even if the online decision is always only a preliminary decision, which becomes a firm commitment as soon as all the credit documents have been checked, this first commitment can be rated as quite positive.

How does a credit with online decision work?

How does a credit with online decision work?

A loan with an online decision can only be taken out over the Internet. Otherwise an online decision would not be possible. In order to be able to contact a bank about a loan, it is worthwhile to carry out a comparison in advance. It shows the best offers, which can then be ordered afterwards.

The comparison is carried out with the help of a loan calculator, which we provide to you free of charge and without obligation. You only have to enter the loan amount and the desired term in order to find suitable offers. However, the offers shown are not yet tailored to the customer, but always of a general nature. The adjustment will only take place if you then contact a bank directly to be able to use the loan offer shown.

The relevant bank will provide you with all the necessary forms for the application. You can usually find this on the bank’s website. Just follow the corresponding link and you save yourself a long search. Fill out all the important fields and send the forms back to the bank by email or directly via the website. This checks the information in the form automatically and will give you an initial online decision. You would have found your credit with online decision.

However, since the online decision is not yet binding, but only becomes firm when you have sent all the documents to the bank and the loan agreements have been signed by both sides, you should hurry and make sure that you also complete these steps quickly. The bank does not have to keep the loan offer for a long period of time, but can withdraw from it at will.

You should pay attention to this

You should pay attention to this

Note that you only have a firm loan commitment once the loan agreement has been signed by both parties. This also applies to a loan with an online decision and is particularly important if, among other things, you want to use the loan to replace another loan. In addition, all information in the loan application must be correct and truthful. Otherwise, the online decision quickly turns into a rejection and you have to look around for a new loan offer.

Categories: Uncategorized

Low Interest Loans | Interest rates determine the cost of the loan

Loans accompany us in many situations. Especially with larger purchases, which can only be financed from your own pocket in very rare cases, these are indispensable. They enable us to buy a new car, to furnish a home, or to finance the next vacation.

Most consumers make sure that they use low-interest loans. A good decision, as interest rates determine the cost of the loan. And the less interest has to be paid, the cheaper the loan is for us.

When are interest rates low?

When are interest rates low?

In order to recognize loans with low interest rates, it is important that you deal with the matter a little before signing a loan agreement. So you should know that the value of a loan is influenced by different factors. In addition to the interest rate, this also includes the term, the purpose, the collateral provided by you and a possible fixed interest period, which is always interesting if you choose a loan with a very long term.

All of these things affect APR and determine whether you can use low-interest loans or not. Since the loan offers are generally installment loans, the effective interest is calculated from the term in combination with the amount paid out. The interest rate is always included in the monthly rate and does not have to be paid separately. In addition, the reason for use often determines how cheap a loan is. If the money from the loan is at your free disposal, the interest may be higher than with a dedicated loan. If this is earmarked, the bank can take the thing to be financed (for example a car) as security.

How to Find Low Interest Loans

How to Find Low Interest Loans

In order not only to find but also to use loans with low interest rates, they will not be able to avoid making a comparison. It enables you to get a precise overview of the different offers without having to ask each bank individually for a corresponding offer.

The comparison can be carried out most effectively and easily with the help of a comparison calculator, which you can find here on the Internet. The use of the calculator is free and non-binding. Based on a few details, of which the details are not personal, the comparison calculator calculates all conditions and, if desired, adjusts them to your ideas. You can then decide whether you like the offers and at which bank you want to take out the loan.

This guarantees you low interest rates

This guarantees you low interest rates

If you do not want to rely solely on the offers of the banks, you can use your own initiative to influence loans with little interest. For example, worship sufficient collateral for the loan. This is especially important if you are looking for a loan that is not earmarked. The collateral should cover the total cost of the loan. If you are able to do this, the bank will be happy to offer you a low-interest loan.

If you are looking for a loan with a large loan amount that is supposed to bring low interest rates despite this, you need a second borrower. If he has his own income and a good Credit Bureau, this reduces the risk of default for the bank. Interest rates go down and you can benefit from a cheap loan offer.

The same thing happens when you use a guarantor to borrow money. It represents a modification to the second borrower and brings security to the loan. The lending bank therefore has a lower risk of default, which in turn will have a positive effect on the effective interest rate.

If you can see in advance that you can include special repayments during the repayment, then you should arrange this with the bank. Have this fact noted in the loan agreement and ensure that the special repayments do not cause any additional fees and costs. No prepayment penalty may therefore be requested. If you succeed, you can pay off the loan more quickly and therefore have to pay less interest. At best, you can save several hundred dollars. And without that the interest rate for regular payments must be particularly low.

Tip: The direct banks, which you can only reach via the Internet, often offer better conditions in the area of ​​loans with little interest. The administrative and personnel costs at these banks are so low that the savings are gladly passed on to customers in the form of low interest rates. It is therefore worth taking a close look and comparing here.

Categories: Uncategorized

Debt rescheduling | Find the right installment loan

Often there is still a lot of month left at the end of the money. A fact that only has a limited impact on some people, because they simply resort to the overdraft facility and simply get the money that is still needed for a lively end to the month. But often this calculation is done without the bank. Because this has set up the disposition so that a financial bottleneck can be bridged without much effort. However, it also provided the overdraft facility with a hefty interest rate, which makes it very expensive to use in no time. Because on average, the interest rate for using the overdraft facility is between 10 and 12 percent. Not necessarily little money that has to be paid back to the bank in addition to the borrowed money. Anyone who does not act quickly here and who uses debt rescheduling to replace the debt with the bank will find themselves in the debt trap more quickly than is desired.

What distinguishes the overdraft facility?

What distinguishes the overdraft facility?

The overdraft facility, popularly known as overdraft facility, is linked to the current account and is usually granted directly when the account is opened. It is a commitment loan for which interest accrues only when it is used. The interest only accrues for the sum that was taken from the overdraft facility. There is no provision fee.

Since the use of the overdraft facility is very expensive, this type of loan is only suitable for a short time. A disposition should therefore never be taken lightly, but only Loan tips when this is really necessary. In order not to end up in the debt trap, experts recommend rescheduling the overdraft facility if you use it for a long time. Debt rescheduling is easily possible with the help of an installment loan.

Find the right installment loan for a debt rescheduling

Find the right installment loan for a debt rescheduling

The installment loan is the simplest option for debt rescheduling. It is easy to borrow and is associated with a very low effective interest rate for smaller amounts. With a good credit rating, the interest rate is barely 3 percent. Depending on which bank the loan is drawn on.

Before the installment loan can be taken out, the amount of the debt on the overdraft facility must be calculated. Since the amount of the installment loan can be freely designed, it is possible to include exactly the amount that is needed. So there is no debt left, nor is there too much money to be raised, which may then be spent lightly on other unimportant things.

We recommend that you do not take out the installment loan for the debt rescheduling from the house bank that offers the overdraft facility. It is unlikely that it will make a good loan offer as it has little interest in the overdraft being rescheduled. After all, the bank makes good money using the loan. Why should she agree to a replacement?

What are the benefits of debt restructuring?

What are the benefits of debt restructuring?

The debt rescheduling of the overdraft facility has various advantages that are not only found in the savings. Anyone who has not exhausted the overdraft facility can use it again and again when financially needed. After the debt rescheduling, it can therefore be regarded as an emergency anchor again and can generate short-term liquidity.

In addition, a balanced account gives a better reputation with the house bank. If this sees that the account holder permanently overdrafts the account and has hardly any possibilities to balance it, the bank will have difficulty granting loans, increasing the overdraft facility or agreeing to issue a credit card. All of these things require a certain amount of liquidity, which can be optimally presented with a balanced current account. Balancing the overdraft facility therefore brings with it a wide variety of advantages that cannot be dismissed out of hand and that make life a lot easier and more carefree.

Categories: Uncategorized