If you already have a negative Private credit entry or the Private credit score is not good enough, it can be very difficult to get another loan. But it is not impossible! One can save oneself the conventional way to the own house bank: Since all German banks are legally obliged to see the Private credit file, a credit inquiry is only possible with foreign banks. What should be considered and which providers are recommended here, can be read here.
- A negative Private credit entry or a lower Private credit score can lead to a credit rejection
- German banks and institutions are required by law to inspect the Private credit file of the loan applicant
- Foreign banks do not know any institution similar to the Private credit, thus a Private credit-free loan is only possible with foreign banks
The normal way to the bank is often too expensive. Moreover, it is questionable whether you get another loan at his bank if one is already served. The money should be available immediately, because the car is needed again as quickly as possible to ensure a smooth daily routine. Online portals help with small loans up to 1,000 euros can be requested. A small loan is not a installment loan, which means that the given loan is repaid all at once. Small loans usually have very short terms.
Test winner needs the current address of the borrower. Foreign applicants need an up-to-date registration confirmation in addition to the passport. Also, the current monthly income and expenditure must be entered in a form. This information must be accurate and true and the consumer must agree to the storage of his data. Then the credit protection – the credit guarantee – is requested.
Step 3: Choose a loan guarantee and express transfer
In step 3, the loan applicant chooses to hedge his loan. This is important if the loan can not be repaid. The consumer has two options: Either he provides a personal guarantor, or he chooses the option of credit guarantee of Zaloan Germany. The advantage of the loan guarantee is that the loan is immediately paid out by express credit without further paperwork. If the borrower chooses personal guarantor, the contact and financial details of the guarantor must also be specified. Also, express credit requires a copy of the ID and a common PostIdent procedure from the borrower and his guarantor. In addition, the guarantor must not have open credits or already vouch for another person.
The option of express transfer is used to transfer the desired loan to the account on the same day. For this the loan must be requested before 12 o’clock of a working day. Express Bank Transfer makes this our fastest credit on our credit test.
Step 4: Sign credit agreement online, submit and the identity procedure
By entering the name in the signature field, the loan applicant accepts the credit conditions. The credit agreement does not have to be sent by post; the online signature is enough. For this, the identity of the borrower must be verified. This can be done via the new online identification via verify-U or the classic post-identification procedure.
The credit agreement is immediately processed by our credit test winner and the Private credit-free microcredit is transferred immediately to your own checking account.