The loan for Germans from abroad became known as a Swiss loan without credit bureau or a housewife loan without creditworthiness. The real offer is far from the traditional ideas of the past and some advertising slogan of the present.
We don’t want you to get stuck in advertising. You can expect authentic information about the credit bureau-free international loan for Germans. The first information right at the start: Legal installment loan without credit bureau has not come from Switzerland since 2009.
Credit for Germans from abroad – finance without credit bureau
The credit bureau should help ensure that lending is secure. For people with a negative entry, the credit bureau unfortunately turns out to be almost “almighty” to prevent regular credit efforts. There remains a credit for Germans from abroad, despite credit bureau from within Germany or if an entry has not been completed. The third legal option would be a private loan without credit bureau.
Before privately financing without credit bureau, that may be possible on a small scale from the circle of friends. Larger sums of donors from outside can only be hoped for “outside the harbor pub” despite credit bureau. But, the catch with lending despite credit bureau is that lenders usually view credit bureau. You don’t want to discover an unfinished entry.
A completed negative entry, paid for at least 6 months, would be bearable. Unfinished means that there is currently a high credit risk, and the creditor could unexpectedly seize the income. The only credit option that is willing to accept this risk is the loan for Germans from abroad. credit bureau is not viewed for an international loan, nor is an approved loan reported.
Is every foreign bank allowed to grant German credit bureau-free credit?
In 2009, the Federal Court of Justice gave the answer “NO” to the question of whether every foreign bank can grant German credit bureau-free credit. (Az. 8 C 2.09). The judgment is equivalent to the end of the Swiss loan without credit bureau, as generations have known it. In order to enable a legal offer in the present, Capital Lender was founded in 2010 in Liechtenstein.
As far as understandable, this credit bank is the only one that was able to overcome all the hurdles for lending to Germans free of credit bureau. Interested borrowers who are looking intensively will discover an offer from Luxembourg and one from Lithuania. Both offers are current accounts that are not reported to credit bureau. A credit bureau query can still be connected to it.
All really credit bureau-free alternative offers are reserved for emigrants. So that people who no longer live in Germany and generate local income in the host country. Legal credit for Germans from abroad who live in Germany, granted by a controlled bank, is sought in vain. If there is actually another offer, our team would be grateful for an info.
Loan offer from abroad – Requirements for lending
Advertising promises a lot when the day is long. The real loan offer sees itself as an opportunity for people whose credit bureau does not represent the real credit rating. Personal creditworthiness for lending is checked – with the exception of credit bureau – as an individual case. The two possible loans are designed as employee loans without guarantors. The loan amounts of $ 3,500 and $ 5,000 would be eligible for application.
Applicants must be at least 18 years old but no more than 59 years old. The age limit is the 60th birthday. Credit can only be granted to people who are fully healthy and able to work. Old debts may generally exist. However, the amount of the debt must be proportionate to income. In addition, there must be no entry in the debtor register of the district court.
An unlimited, unconditional employment relationship subject to social security contributions outside the trial period is required. The current employment relationship must also have existed for at least 12 months. The credit for Germans from abroad is only secured by income from work. It must therefore not be attached or otherwise assigned.
The amount of the required net income is based on the number of dependents. As a rough guideline, the net income for 3,500 USD should be about 100 USD above the garnishment-free limit. Stricter regulations apply to a loan of 5,000 USD. For example, the employment contract must have existed for 36 months, and the net income should be around 530 USD above the garnishment limit.
Apply for a loan – with or without an intermediary?
Hiring a credit intermediary is not absolutely necessary for borrowers from Germany with the credit bureau-free loan. The application forms are available for download on the bank’s website. However, the direct application process is not entirely free of charge. The applicant pays for certification and the Post-ID procedure himself.
The credit for Germans from abroad is also only recommended if a negative entry does not yet contain a settlement note. With the completion note, the financing offers much more leeway despite credit bureau from Germany. For financing despite credit bureau, we recommend that you use a reputable broker.
Serious offers to avoid a loan for Germans from abroad are offered by Cream Bank and Agree bank. Both portals provide credit from private to private. We recommend Cream Bank because the portal enables bank loans as well as private loans.