Annually, about 500,000 people seek a loan despite credit bureau entry and there are more and more from year to year.
But not always a negative entry in the credit bureau, an obstacle to lending represent. We show you how to get a loan despite credit bureau and the favorable conditions.
I have a credit bureau entry – Negative features explained briefly.
First, we’ll look at the negative features before continuing with other useful tips. The negative features just mentioned are assigned by the credit bureau in two different categories. So the first category with the far-reaching consequences for the consumer are hard negative features. Included here are entries such as personal bankruptcy, affidavits, arrest warrants, foreclosure. These entries are hard features that completely exclude consumers from any business that has anything to do with a loan. So we can summarize here directly. Once our credit bureau credit reporting agencies get this tough Having negative features, a loan or a credit intermediation is not realisable. In such a case, we can assume over-indebtedness and in such a situation, no bank is willing to lend.
Let’s move on to the second category, which actually affects our score but does not do as much damage as it did the first. Meant here are the soft negative characteristics in a credit bureau information. Among the soft negative features, can count, for example, a reminder. We received from a mobile service provider because of an unpaid bill. Whether this is a reminder from a collection agency or the contractors does not matter because both types are considered a soft negative. Even a court order is not regarded as a hard feature, unless the order for payment has already been enforced. As a soft negative features, for example, also considered an overdrawn current account or whom a direct debit is rejected for lack of coverage.
Credit despite credit bureau – Is there only dubious offers?
To counteract the prejudices we want to emphasize that it is one Credit despite credit bureau’s entry is about a normal installment loan. These loans are offered by ordinary banks and are no exception. So we’re not talking about any loan sharks that trap people with dubious loan offers.
How do I get a loan despite negative credit bureau?
As already mentioned, this is a common way of financing. The credit banks, savings banks as well as other lenders all have their own individual Lending guidelines and use the credit bureau information as well as the associated scoring only as a support. The real one Credit check and the decision on a loan is all alone with the bank. Quite the opposite of the generally accepted opinion, the credit bureau has only a supporting role and does not decide on the lending.
Since each bank decides on the granting of credit in compliance with its own lending guidelines, credit ratings may differ. It may be that we fall on the first bank with our loan application on deaf ears and in another a loan in the desired amount, easily paid. So a lot depends on the individual situation and the lending policies.