For various reasons, a loan can be denied in difficult cases. Among the most common reasons why a loan is rejected, include: A negative credit bureau information, an exemption from residual debt, a low loan amount or too low income. While most German branch banks reject lending in these situations in principle, it is quite possible to borrow money from other lenders.
Credit in difficult cases of online and direct banks
There is a lot of information on the internet about German and foreign online and direct banks that specialize in clients looking for credit in difficult cases. As a rule, they offer standardized loans that are limited in amount. For example, it is difficult for people with negative credit bureau to get a loan of more than 10,000 euros. The fact that a negative credit bureau or a residual school exemption does not automatically lead to the rejection of the loan application, must not be misunderstood to the effect that the credit rating would not matter.
It goes without saying that these banks also check the creditworthiness of the applicants: only if the personal situation of the person looking for a loan is likely to allow him to repay the loan on time and in full can he be granted permission. Anyone looking for a loan in difficult cases on the Internet, however, should be careful that he does not come to dubious institutions: There are numerous lenders who try to exploit the plight of those affected and demand completely overdone interest. To protect yourself from this, it is important to compare terms and conditions at various banks before borrowing.
Credit in difficult cases of related persons
Why not ask relatives or friends for a loan when banks refuse to lend? Of course, a sufferer should also be sure that the repayment will not cause any problems. When a private lender is found, it is best for lenders and borrowers to sign a written loan agreement that sets out all the important details. This ensures that the processing of the loan can take place without misunderstandings and without problems.