Consumers who have already taken out a loan and still need more money often find it difficult to obtain another loan from banks. So there is often only the way abroad where a loan can be applied for without Credit Bureau query. Many also know this loan as a Swiss loan, because, as the name suggests, it is granted in Switzerland.
Swiss banks do not work with Credit Bureau as in Germany, so the credit is not entered in Credit Bureau and the applicant is not checked with Credit Bureau. Credit Bureau is there to give banks an overview of the customer’s creditworthiness. If there are entries here that have a negative impact on creditworthiness, the applicant can often not apply for a loan. But not with the loan without Credit Bureau query, which is granted abroad.
What are the requirements for the trainee?
In order to be able to apply for a loan without a Credit Bureau query, there are a few things to consider. Not every consumer benefits from this loan, so sufficient information can help. The applicant must have reached the age of 18, because loans are not granted abroad if the applicant is a minor.
In addition, there must be a fixed income that can be attached. Garnishments are only made when the borrower can no longer pay the installments. This option serves as security for the bank in the event of a loan default.
Furthermore, the applicant may not be self-employed or work on a trial basis. Even the unemployed have no chance because they have no income and only receive social benefits. These are not attachable, so this group of people is not taken into account.
How is the loan taken out?
There are two ways to apply for a loan without Credit Bureau query. The applicant either goes abroad and looks for a bank there. Another and much easier way is to find a loan broker. This can be found easily and quickly on the Internet.
As soon as he has the requisite documents of the applicant, the credit intermediary meets with the foreign bank, which then issues loan offers. It should be ensured that the credit intermediary charges a fee that is not too high, which must only be paid after the contract has been concluded.
A comparison can help you find a cheap credit intermediary who will then take care of the formalities. As soon as a suitable offer is found, the applicant can sign the contract so that the loan amount can be transferred to him within a week.