A growing number of people in Germany have an entry with Credit bureau and are thus initially excluded from normal credit. Even a harmless cell phone contract can fail due to such an entry. Many people are therefore looking for a serious small loan immediately without Credit bureau.
Consequences of a Credit bureau registration:
Even if the existing debt has been paid off in full, the entry remains with Credit bureau for three years – a fact that actually amounts to a criminal record and is therefore always controversial. However, the political will to change this does not seem to exist. With a Credit bureau entry, it is not possible to obtain a credit in Germany, to overdraw the account or to use a credit card.
Small credit immediately without Credit bureau: the solution
The Internet has led to a large number of online financial institutions that are not based in Germany and are therefore not subject to the strict local regulations on lending. Domestic institutes have also recognized the problem and now maintain online societies, which are basically only there to serve an audience that should be rejected at the counter. In a networked world, it may be time to think about the meaning of our Credit bureau if it is possible to legally circumvent the laws anyway.
A consumer loan from an online bank is usually a little more expensive than a conventional installment loan, but much cheaper than an overdraft facility. A copy of an employment contract and salary receipts from the past three to six months are usually sufficient to obtain the desired loan quickly and without red tape. The repayment procedures are similar to that of a “normal” bank.
Many online providers cooperate with local branch banks, so that classic personal advice is also possible.