If you need money, but have ever been in debt and even have a negative Credit Bureau entry, that’s a problem. Poor credit doesn’t make your life easier and can turn out to be a disadvantage if you want to take out a new loan.
In this situation, it is even impossible in some cases to sign a cell phone contract, rent an apartment or finance a car. In these circumstances, credit is often the only way to pay off the debt, but it is not easy in these circumstances to get a loan. You can find more information on loans in spite of debt below.
What should be considered for loans despite debt?
In Germany it is incredibly difficult to get a loan when you are in debt. In some cases, your own bank is ready to grant a loan to a long-standing customer, even though the customer is in debt. But these cases are actually an exception. Particularly in times of crisis, it is unlikely that a bank will lend to customers with debts. Therefore, it is advisable to look for a suitable loan on the Internet, here the chances are greater to find loans despite debt. But you should also be careful on the Internet that you do not come across fraudsters.
What is the way out?
Despite debts and negative Credit Bureau entry, it is not impossible to get a loan. Some service providers who offer car leasing, for example, do not obtain a credit check from Credit Bureau. There are also banks or credit institutions that do not seek information from Credit Bureau before lending. The only thing that counts with these providers and institutions is their own earnings statement, on which there should be no attachment, if possible. You can also score with collateral such as a car or property.
In addition, the Internet also offers many ways to get loans despite debt. These are not only easy to find, but can also be applied for quickly and easily. The disadvantage of a loan on the Internet, however, is that the interest on the loan is usually higher than at your house bank, because the risk for providers on the Internet is higher. In principle, you should inform yourself very well beforehand about your options and get advice on what is the right path for you. Don’t be afraid to use Credit Bureau-free services to improve your situation and get away from guilt in the long run. Compare and weigh up the offers before you make a final decision.