The Credit bureau information is negative, but funding is still needed, because the car has to be repaired or a move is pending. Many consumers then wonder what they should do if they can no longer get a loan from the banks: the solution to this is a credit that is independent of creditworthiness.
A Credit bureau-free loan also has advantages!
Loans without Credit bureau are often burdened with the flaw that they are only for people who are already heavily indebted. However, this is an error that is rarely made public. Credit bureau-free loans also offer advantages that should not be underestimated.
Immediate loans without a Credit bureau entry are therefore repeatedly criticized without justification, and sometimes these are the solution, especially for employees and the self-employed, if the Credit bureau information is to be kept “white”. This is the case, for example, if larger financing, for example taking out a real estate loan, is planned for the coming years and the borrower wants to keep his clean sheet with Credit bureau.
Taking out a loan without Credit bureau eliminates two points: on the one hand, only income is used to determine creditworthiness and there is no query of Credit bureau information. On the other hand, in the event of a positive decision about borrowing, the installment loan is not entered in Credit bureau, which therefore remains without entries if none were previously available.
Apply for instant loans without Credit bureau entry through a credit intermediary
Since banks in Germany generally make Credit bureau queries when applying for a loan, Credit bureau-free credit is not possible through a bank, at least in this country. So-called credit intermediaries have been addressing this problem for years, making it possible to broker loans from abroad without Credit bureau.
These loans, also known as Good lender loans, are a way of obtaining instant loans without a Credit bureau entry via a credit intermediary, regardless of the borrower’s intention to obtain such a loan without Credit bureau. Only one thing is important for this: regular income from salaried or self-employed activity is essential as a credit rating even with a Credit bureau-free loan.