If you are looking for a loan, you do not have to pay in advance. Prepayment is an instrument used by credit intermediaries who do not work seriously. But why do you hire a loan broker? There are loan seekers who have a bad credit rating due to negative entries in their Credit Bureau and were rejected by local banks.
Credit brokers promote the Credit Bureau-free loans, which are often the last lifeline for people with limited credit ratings. However, there are black sheep among the brokers who require payment in advance before the customer has even received a loan application. This is not allowed, a credit agency receives the commission only after the loan approval. But is there a loan without prepayment?
The credit without prepayment is part of normal banking. People who hire a credit broker because they do not get a credit in this country due to their limited creditworthiness are often ripped off by the broker asking for prepayment before anything is started. If this happens to a loan seeker, he should look for another intermediary. Not all credit intermediation should be done badly, but caution is advised.
The customer, who has already received a number of loan rejections in this country, turns to a credit broker in an emergency. After all, they advertise on the Internet that they can promise a loan to every customer, even without a credit check. The customer only has to pay in advance or sign insurance contracts. Ultimately, the customer has no credit, but an insurance policy that he doesn’t need at all.
However, the situation on the financial market is such that most banks and credit intermediaries issue every loan without prepayment. Before a loan is approved, the bank checks the income, the Credit Bureau and the permanent position. If the customer can meet the conditions of the bank, there is a credit without prepayment. However, there are loan applications that are rejected due to poor creditworthiness if the income is too low or the Credit Bureau is bad. This is where credit brokerage comes in. because their advertising is aimed at these customers in detail.
Often you can find a credit with prepayment for the Credit Bureau-free loans. If the customer pays, they will receive the loan rejection within a few days. But he never sees the advance payment again. However, if he has commissioned a reputable credit broker, he will very well get a loan without prepayment. Serious credit brokers can be recognized by the years of experience with which they do business. ‘Even strong brand-certified agencies and those tested by the German Company can be classified as serious.
Certainly no credit broker works for free, but he will only get his commission after the loan approval.
The Swiss loan with a credit broker?
It is the Swiss loan that always appears in negative light. These loans have been around for decades. But it is the credit intermediaries that have given this credit a bad name. The Cream bank and Lite bank are reputable business partners who of course know nothing about a prepayment. A serious loan from Liechtenstein, for example, is always a loan without prepayment. Although the loans are subject to a higher interest rate, the bank does not use the Credit Bureau query, and the loan is not entered.
There are various ways to apply for a loan from Liechtenstein or Switzerland. The aforementioned credit brokerage and the customer himself can submit a loan application to the bank. These banks have a website and simple platforms that everyone understands. The loan processed by a credit broker without advance payment saves the customer a lot of time and nerves. All he has to do is provide the necessary credit documents, the credit intermediary does everything else. For this he calculates 5% of the loan amount as a commission.
Especially with financially weak people, dubious loan brokers do their business. A loan is promised, but prepayment is required for the loan to be approved, the intermediaries say. But here only the broker does a good business with prepayment.
The credit without prepayment
If you are looking for a loan without prepayment, you are right with your house bank. Other branch banks or direct banks also grant the loans without having to calculate advance payment. If the loan is rejected because a negative Credit Bureau entry is responsible, it does not have to be the end. There are banks that grant a loan even with this limited credit rating. However, caution should be exercised here, because there are also black sheep among these providers. The provider should be carefully selected. Prepayment is no serious work, just like insurance contracts.
The customer can submit the loan application directly to the selected bank, which grants no-Credit Bureau-free loans. With a credit comparison, the customer can see whether these loans are on offer by the provider. However, advertising promises such as Credit Bureau-free loans up to USD 100,000 are simply an exaggerated advertising strategy, but unfortunately many customers still fall for them.
Generally, a loan without advance payment is only approved if there is a sufficiently high income that has a attachable portion of at least 100 USD. Those who earn less will not receive a loan. There must also be a permanent position, which must not be limited and should not have a trial period. Proof of creditworthiness is determined on the basis of payslips, bank statements and a copy of the employment contract.
The customer must be of legal age and must not be older than 62 years. The place of residence and the current account must be in Germany. The peculiarity of this loan are the restricted loan amounts. In most cases, three sums are approved. The $ 3,500 loan is the most approved loan and has a rate of $ 105.00. The other two loan amounts are 5,000 USD and most recently 7,500 USD. The terms of all three loans are 40 months, the interest rate is in the double-digit range. It is recommended to pay the loans on time because the bank will initiate the garnishment immediately in the event of a payment default.