Car repairs are expensive. In the case of used vehicles in particular, they often even exceed the purchase price of the vehicle. The same applies to a washing machine or a television. However, it is often not possible to raise the funds that would be required for repairs or a new car or household appliance without outside help. At this moment, a loan is supposed to help. But whose Credit Bureau entry is weak has a problem. This will be immense even if it is a loan without a guarantor and Credit Bureau.
The difficulties with a loan without guarantor and Credit Bureau
Loans are a business. The borrower gets a certain amount that he could not raise alone to use it in such a way that it means added value for him. The bank that gave the loan not only gets the loan back, but also interest that means a financial gain for the financial institution. However, this business is risky for the bank: what if the borrower does not pay? Although she can take legal action against him and maybe even send him to prison, it does not pay off her financial damage. For this reason, banks require collateral.
For this purpose, the General Loan Protection Association was created, which provides a risk assessment of whether or not lending to an applicant is safe. This is the so-called Credit Bureau entry. If it is negative, the chances of getting a loan are very slim. Unless you present a guarantor who steps in in an emergency and pays the costs. But if you do not have this, the possibilities for a loan without a guarantor and Credit Bureau are already very small.
Loan without guarantor and Credit Bureau: the possibilities
You can only get a loan from a Fine bank without guarantors and Credit Bureau if you receive a very high salary that serves instead as security or can use other security such as a property or a car. But if the Credit Bureau entry is negative and you don’t have a suitable guarantor at hand, then you probably don’t have this form of collateral either.
In this case, there is still the possibility to contact a private person who decides for himself on what terms (and guarantees) he will grant a loan or go to an internet bank. These advertise aggressively with a loan without Credit Bureau, but you should first compare exactly what form of collateral these banks otherwise require. Because the internet banks don’t have to give away money either.