Loans without Schufa information are rarely available from conventional banks. Many lenders exploit the desperation and hope of people who are unworthy of credit through Schufa entries and demand usurious interest rates and up-front fees. However, such dubious offers can also be avoided.
Especially for people who are assigned a low scoring value through no fault of their own or have not been guilty of misconduct within the last months or years, they can often receive a fair credit offer from other providers, despite negative information from Schufa.
Credit without Schufa – only dubious offers?
This question can be answered in the negative. However, it is important to separate black sheep from reputable credit intermediaries.
Caution is always required when:
– The adviser requires advance payment for unpaid services.
– The contract documents are to be sent exclusively by cash on delivery.
– Expenditure without evidence can be asserted.
– Consulting contracts are sold.
– A club membership is necessary for obtaining the loan.
– Additional insurance or home savings contracts are to be completed.
– Unnecessary and paid home visits are required.
– Only overpriced advice hotlines are available.
– Financial remediation offers or insolvency advice is offered by unauthorized providers.
Basically, however, as long as a premium for the agent is due only in case of success, most offers are considered serious. However, interested parties should also pay close attention to how high the agency fee is. Otherwise, loans can become unnecessarily expensive.
Are loans without Schufa recommended?
Loans without Schufa are not fully recommended, but they can compete much more frequently with normal loan offers than the media suggest. The most important thing in the search for a loan without Schufa information is undoubtedly a serious partner who does not try to beat the future borrower with Toggle contracts over the ear.
Reliable credit intermediaries, however, are able to lend to the market price even to people who would not get credit from the big banks because of a bad Schufa score or because of entries that are already a bit older.
That the reputation of loans without Schufa is so bad, is on the one hand on dubious providers, on the other hand, but also on the Schufa itself. The conservation community is even at regular intervals studies on this subject in order. The fact that other credit intermediaries do not perform well is unsurprising. The media gratefully addresses this issue, presenting individual cases and estimates as affecting the general public. In this way, interest rates of more than 25 percent and low success rates come about. That not every credit intermediary works seriously, but it is beyond question. Loan seekers may, however, be much more positive in their search for a suitable provider, but should not lose their caution.
Is a credit without a credit check possible?
In some cases a loan is possible even without any credit check. However, then the interest rates are also high. This is because high interest rates mean that lenders have to compensate for the higher default risk of a loan in order to make a profit themselves. That’s why a loan without any form of credit check is never recommended. The far too high interest rates usually lead to debtors only getting deeper into the debt trap. However, there is the possibility for loans without Schufa information, to use other possibilities of credit check and hedging. These can be alternative types of credit assessment or – especially in car or real estate loans – a security for which the loan is taken.
Anyone who shuns such collateral or alternative credit checks should check why he feels that way. Those who are so deep in the debt trap that a credit check brings no improvement in the interest rate, is probably better off with the way to debt counselor than with a new loan.