Loans without Credit Bureau information for the unemployed are only possible to a very limited extent. There are basic credit opportunities, but depending on the situation, the financing opportunities can quickly dry up. The article explains more about the possibilities and problems.
Loans without Credit Bureau information for the unemployed – the starting position
Even with ALG 1, the chances of making loans approved for unemployed people without Credit Bureau information extremely slim. A few years ago, a loan without Credit Bureau from any credit broker would have been possible without any problems. The situation is much more difficult in 2013. Politics have not been idle since the start of the dollar crisis, which started with bad loans in 2008. The declared aim was to exclude credit risks as far as possible in the future. The Basel treaties were signed.
The requirements for banks across Europe and even in the USA have been tightened. Banks that want to continue to issue risk loans have to meet increasingly stringent requirements. The benchmark for banks is now so high that risky loan projects no longer pay off. Germany’s banks have always been very hesitant about risk loans.
The solution was the foreign loan. Unfortunately, it is above all the Swiss banks that are increasingly withdrawing from the risk business. If the direction does not change again, the loan without Credit Bureau from Switzerland will become an end of life.
Remaining credit options without Credit Bureau
Despite the reduced chances of obtaining approval for foreign loans, attempting a loan through a reputable credit broker cannot hurt. Costs only arise in the event of a successful placement. Another option would be to try a loan from one of the specialist providers of risk loans. These offers are easy to find online and should definitely be compared. Risk loans are significantly more expensive. The effort for the loan comparison is definitely worth it.
Educational loans offer comparatively good approval prospects and certainly a worthwhile future investment. Depending on the severity of the negative Credit Bureau entry, loans without Credit Bureau information can continue to be accessible to unemployed people for educational purposes.
With a completed Credit Bureau entry and some equity, an ERP loan without proof of creditworthiness would also be possible. However, if there were an ongoing insolvency proceeding in Credit Bureau, then loans would start up for the start-up.
Loans in acute emergencies
Schröder’s policy of the social ice age shows in particular her icy claws when it comes to credit opportunities in social emergencies. In theory, the ARGE Hartz 4 – can help recipients on credit. But in most households there is not a single cent for possible help in an emergency.
Loans without Credit Bureau information for unemployed people in Hartz 4 – practically only the churches and charities give out. These small interest-free loans can be used to pay for the repair of the washing machine or perhaps to buy urgently needed new glasses.