Debt restructuring despite bad creditworthiness even without Credit Bureau


What you have to consider when rescheduling despite poor creditworthiness

What you have to consider when rescheduling despite poor creditworthiness

It is important for you that the installments for your loan are as small as possible. So do not expect more than your current financial situation allows. Last but not least, good financing depends on low interest rates and good conditions. Many customers want the most flexible loan possible. This includes special repayments without additional costs or the possibility of being able to stop the repayment for a month. If all of these things are true, one can rightly speak of sustainable financing for debt restructuring despite a poor credit rating.

However, there are certain points that you should consider so that your loan as a pensioner, student, self-employed person, trainee, unemployed or employee is not in the way:

1. Only set the loan amount as high as is absolutely necessary

As a rule, the guiding principle applies: Anyone planning with regard to debt restructuring despite having poor creditworthiness should assess the necessary funds as precisely as possible right from the start. It is therefore absolutely necessary to prepare the expenses in advance in order not to experience any unpleasant surprises afterwards. It would undoubtedly not be wrong to consider a small financial cushion, the emphasis being on “small”, because if this buffer is too large, it would inevitably push up liabilities. For this reason, it makes sense not to raise more funds than are needed. It is better to supplement the under-calculated need for funds with the help of top-up or follow-up financing.

2. Establish and structure a financing plan

Anyone who needs a loan for debt rescheduling Despite poor creditworthiness, you must first correctly assess your financial situation and have precise control over expenses and income. A detailed weekly schedule of your own costs can help, for example: How much money is spent every day on what? In fact, every single expenditure that has been made should be taken into account in order to really record all amounts. It is not only possible to determine where there is still potential for savings; the cost schedule also helps to assess the correct loan rate.

3. Be careful and conscientious

It is important to be correct, honest and careful with all information about your own financial situation and creditworthiness – Be careful, honest and precise with all information about your creditworthiness and your own financial situation when it comes to debt rescheduling. You should allow yourself enough time to carefully compile all the evidence and documents. This is the only way to draw a precise and serious picture of your own finances, which in any case has an advantageous effect on the chances for an instant loan or an emergency loan.

What a reputable intermediary can do for you

What a reputable intermediary can do for you

Basically, the main service of an intermediary is to help you find a suitable “loan without Credit Bureau”. Often, however, the activity goes beyond the scope of pure mediation and is supplemented, among other things, by debt advice. One of the tasks of a qualified loan despite Credit Bureau intermediary is to show you the advantages and disadvantages of a financing offer and to help you compile the application documents.

Advantages or disadvantages of mediation


  • Good connections also to lesser known institutions and banks
  • Detailed advice before submitting the application
  • Procurement of credit even if the creditworthiness is insufficient
  • Assistance in compiling the application documents
  • Reasoning aid for complicated personal circumstances or large amounts of funding
  • Good chances of favorable conditions


  • Risk of obtaining loans that are too expensive
  • Possible costs of brokering credit
  • Dubious offers are not always immediately recognizable
  • Risk of obtaining expensive loans

Also worth reading is the article Borrowing Money Immediately Despite Negative Credit Bureau

Due to the good connections that a number of intermediaries maintain to small banks, there are excellent chances of getting better conditions for debt rescheduling despite poor creditworthiness. Even negotiations in difficult circumstances are easily possible. As a result of their good contacts, they can justify unfavorable Credit Bureau entries, for example, so that they are not as important in the credit check as in the automated processes of large banks. Applying for a debt rescheduling loan Despite poor creditworthiness at a normal bank, in contrast, would be an almost hopeless undertaking.

How do you differentiate between reputable and dubious credit intermediaries?

How do you differentiate between reputable and dubious credit intermediaries?

If a broker is reputable, he has a real interest in helping you to obtain a loan for a debt rescheduling despite poor creditworthiness. Because the broker receives his commission from the bank, you usually do not incur any fees or other payments.

Reputable credit brokers can be recognized by the following criteria:

  • You will receive specific information about terms, debit and effective interest, and loan amount
  • You don’t pay any commission to get a loan
  • The company has a website including imprint, contact options and address
  • With a test call, the company can be reached de facto and the employees make a competent impression

The factors of a dubious mediator

  • Costs are raised for the consultation and regardless of the conclusion of the contract
  • You will be 100 percent committed to the loan in advance
  • Cash on delivery of the documents
  • Proposed financial restructuring
  • Unannounced acquisition at home
  • Financing depends on taking out residual debt insurance or other insurance
  • Calculation of expenses or additional costs
  • They are urged to sign the agency contract

Why foreign institutions with debt restructuring are a good option despite poor creditworthiness

Why foreign institutions with debt restructuring are a good option despite poor creditworthiness

More and more people are taking out loans from foreign financial institutions because they are planning a longer trip, want to become self-employed or simply need a new car. In addition to the normal route to a house bank, consumers have now discovered the Internet to take out a loan from a foreign institution that is precisely tailored to their needs. Advantage: The guidelines for granting a loan are not as strict with us in Germany. For this reason, a negative entry in the Credit Bureau or an unfavorable credit rating only play a subordinate role in the case of debt restructuring. This provides online loans, which are generally granted by Swiss banks. This fact is particularly interesting for those borrowers who need a financial injection particularly quickly and have already been rejected by German banks. That would be z. B. Students, self-employed, pensioners, trainees, unemployed or employees during the probationary period. These people in particular find it particularly difficult to obtain a loan in relation to debt restructuring despite poor creditworthiness.

The benefits of a Swiss loan

It is often difficult for a private individual who is in financial need to obtain a loan. It is especially the people with bad credit or debts who need money the most. A Swiss loan would be a sensible alternative in such cases. This is a loan that is approved by a Swiss financial service provider. A negative Credit Bureau entry is irrelevant for these institutes, since there is in principle no question about this, which makes it extremely easy to find a loan. Regarding debt rescheduling Despite poor creditworthiness, this fact can almost be viewed as ideal.

Of course, you cannot get a loan from Swiss financial service providers without checking the creditworthiness and various proof of income and collateral. If it is only a negative Credit Bureau entry that worries you, Swiss credit could be a realistic alternative for you, provided that your credit rating is in order so far.

How debt restructuring works Despite bad creditworthiness guaranteed

How debt restructuring works Despite bad creditworthiness guaranteed

Anyone looking for debt rescheduling online despite a poor credit rating, ie “despite a moderate credit rating” does not generally mean a “loan without Credit Bureau”. All renowned financial service providers check the applicant’s creditworthiness today. Even if this is not done through the Credit Bureau, it is through another credit agency.

At the largest credit agency in Germany, the Credit Bureau, everyone actually has a score (i.e. an entry). If you are the owner of a credit card or have an account with the bank or savings bank, a corresponding value has already been created for you. Thus there is no “credit without Credit Bureau” at {a reputable financial institution}, at best a “loan despite Credit Bureau entry”. Very few consumers have a “negative Credit Bureau entry”, although many suspect it. in fact, most people’s scoring at the credit agency is consistently positive

If you are planning to apply for a loan, the best thing to do is to determine in advance whether it might be difficult for the bank to approve your application because the Score Index may be so unfavorable. Incidentally, it is possible to request the “Credit Bureau Score” from Credit Bureau once a year free of charge. If you want to find out what personal information is stored at the credit agency, you can obtain so-called self-disclosure from the credit agency since 2010. Basically, you are entitled to this information once a year free of charge in accordance with Section 34 of the Federal Data Protection Act (BDSG). What factors contain the information that you can query at “MeineCredit Bureau”? First your personal score (Credit Bureau score), but also who has obtained information about you in the past few months. Your score depends on various “ratings”. These ratings can range from 1 to 100. 100 is the highest score anyone can get. In this case, an extremely small probability of failure is assumed. A score of 50, on the other hand, means in plain text that Credit Bureau assumes that payment difficulties are significantly more likely.

Our tip: This is how you can “delete a negative Credit Bureau entry”

Not paying the bill – that has happened to everyone. There are several reasons: You were currently in a financial bottleneck, were on vacation at the time or had a new postal address due to a move. A cell phone bill that has not been paid on time can also cause problems sooner or later. This happens faster than you think. The result is that you get an unfavorable Credit Bureau entry and afterwards it is difficult to get a loan. So if the score decreases due to several reminders, this will certainly have an impact on the application for a loan.

However, every consumer has the right to have a disadvantageous entry at Credit Bureau deleted for his protection. The credit agency stores considerable amounts of data. It can therefore happen that the stored information is often out of date or incorrect. In any case, as a consumer, you should exercise your right to request information and have old entries removed. In any case, such deletion is requested directly from the credit agency. On the other hand, the elimination is only carried out on the condition that the due invoice has been paid within six weeks and does not exceed USD 2,000.

Your data at Credit Bureau – deletion of Credit Bureau data

After a certain period of time, the Credit Bureau entries are automatically removed without any action on your part. For example, this happens with:

  • for information about requests after exactly one year; This information will only be passed on to Credit Bureau contract partners for 10 days
  • for loans 3 years after the year of the full repayment (to the day) of the loan
  • for information about outstanding claims, each after a period of 3 full calendar years (this means, at the end of December 31 of the third calendar year that follows the storage)
  • for claims from mail order companies or online shops, if these have now been resolved

The advantages of a Swiss loan

Individuals in a tight financial situation often have no way of getting a loan. Financing is made considerably more difficult in the face of debt or poor creditworthiness. In such cases, a so-called “Swiss loan” can be a sensible alternative. It means a loan from a Swiss bank. A negative Credit Bureau entry is irrelevant for these banks, as there is usually no request for this, which makes it easier to find a loan. This is particularly ideal when it comes to debt restructuring despite poor creditworthiness.

Obtaining a loan without checking the creditworthiness as well as various collateral and proof of income is clearly not possible at Swiss institutions either. With a secured credit rating, the Swiss loan is a real alternative for debt restructuring Despite a poor credit rating, even if you have a negative entry in Credit Bureau.

What is the “APR”

For debt rescheduling Despite bad creditworthiness, the “effective annual interest rate” or “effective annual interest rate” is also decisive. What is the “annual percentage rate”? Here one understands the annual interest costs for loans, which are calculated over the nominal loan amount. It is listed with a certain percentage of the payout amount. There are financings with an interest rate that is variable or flexible and can therefore change during the term of the loan. This is then called the “effective annual percentage rate”

It is not uncommon for a fixed borrowing rate to be set for a loan for the entire duration of the term. That means: Irrespective of the various interest rate fluctuations on the capital markets, the nominal interest rate on which the “loan” is based remains stable. If you value planning security, a fixed borrowing rate would be just right for your loan. The interest rate on the “loan amount” therefore remains unchanged throughout the term of the loan. So you are permanently protected from the unpleasant surprise of a credit increase.

What does the loan term mean

What does the loan term mean

A loan can have different terms. This essentially affects the conditions that borrowers agree with the bank. In other words, the borrower will have to pay lower monthly installments if the “loan term” is longer than if he chooses a short-term loan. It is therefore worthwhile to go through the various options regarding the loan term. On the other hand, it is not possible to use all maturities for all loans.

What exactly is the term of the loan or loan term? Simply put, this is the time interval from the payment of the loan amount until it is fully repaid. The duration depends on the amount of the nominal interest and the repayment. The duration is undoubtedly mainly influenced by the amount and the number of installments. The smaller the repayment amount, the longer it will take until the loan and thus the loan amount including processing fees and interest is fully paid off. Loans that are connected over 5 years are considered long-term loans.

What are the loan fees

What are the loan fees

Loan fees as a whole include the processing commission, loan processing fees, closing fee and the processing fees. As a rule, these fees are the costs that the financial service provider was allowed to invoice until 2014 for the effort required to process an application for a loan or a credit request. As of May 2014, the calculation of the “loan fees” for a loan request, including the assessment of the borrower’s creditworthiness, was declared inadmissible. Precisely explained, this means that fees for processing an application (on average 1 – 3 percent of the loan amount) have not been allowed since 2014. If various borrowers have been charged such a fee for the loan request or application, in many cases they have the right to request reimbursement of expenses.

What is a lender

What is a lender

The lender can act as a company or as a private person. He grants a loan to the borrower or borrower for a certain period of time at an agreed interest rate. As far as the term “lender” is concerned, this is generally used in the legal texts, although the terms “creditor” or “lender” may also be used in credit contracts.

The approval of a loan is always associated with a significant risk of default for the lender. As a result, higher interest rates are predominantly required. Lenders are usually financial institutions such as insurance companies, savings banks or credit banks. The BGB (Civil Code) regulates the borrower’s rights and obligations.

What is the monthly rate

Borrowers who have received “bad credit” must also repay them in the form of individual monthly installments. A central component of the monthly installment is the interest rate for loans. The index for the interest rate is based on the current market interest rates that the bank pays itself on the capital market. With a corresponding premium, she then passes this interest on to the borrowers.

Another criterion for the “monthly installment” of loans is repayment. How high the borrower determines the repayment rate mainly depends on his total income. With {long-term loan contracts}, the repayment is usually annually 1 {{percent}}. In the event that the loan amount and thus the loan amount are to be repaid in a shorter period of time, a higher repayment must of course be specified. Regardless of this, the monthly charge – depending on the amount of the repayment – is significantly increased.

The monthly rate of a loan is therefore determined using the usual criteria of interest rate and repayment. However, in the case of loans, the processing fees charged by the banks and the commission paid by the credit intermediaries are often included in the monthly installment. Although these costs are usually already included in the interest, they are nevertheless a component of the monthly installment for the total loan amount.

What is a debt rescheduling loan

What is a debt rescheduling loan? This is a loan that someone takes out in order to be able to use debt restructuring to pay off a loan with a very high interest rate a little cheaper. A debt rescheduling would also make sense if several loans are to be combined into a single one. You can therefore specify more than one loan for the debt rescheduling. In principle, the “debt rescheduling loan” is not applied to the same, but to another {credit institution}. There is certainly no reason not to apply for the loan for a debt rescheduling from the same bank again – logically only if the conditions are right this time.

The real benefit of a debt rescheduling is, therefore, that after completing your new loan you will have less financial expense than before – hence the debt rescheduling loan. Even if the interest is only minimally cheaper, it can mean that you will ultimately save a nice amount of money.

What is the total loan amount

The total loan amount includes all costs that the customer must repay to the bank for a loan. The total amount that the borrower has to repay to the credit institution within the term of the loan repayment includes the ancillary costs and is therefore higher than the loan amount taken out. The additional costs that are added to the pure loan amount also include any commission or processing fees and the total interest payable. The “total loan amount” therefore includes all costs incurred, which often makes it considerably more expensive than the actual nominal amount of the loan.

The {costs} for taking out residual debt insurance in connection with the borrowing are also part of the total loan amount.

What is the loan amount

What is the loan amount

In the event that the borrower is approved, the loan amount will then be paid out net. The amount of the payout may also differ because in some cases the “loan amount” is not paid out in full as a total amount. The same applies to a loan or a “Swiss loan”.

In any event, if a {loan application} is submitted for a loan amount, the bank will either determine the borrower’s existing income or, for a commercial loan amount, the business balance sheet. How high the loan amount is then of secondary importance. Whether the loan amount is only USD 800.00 or USD 300,000 – in any case, the applicant’s monthly income is checked by the credit bank.

In principle, a fixed monthly repayment installment is agreed within a specified time for the loan amount. These agreements can always be found in the written loan agreement. If the borrower has the corresponding monthly income, he can also repay the loan amount faster with special repayments. Such special repayments sometimes cost fees. A quick look at {the respective loan agreement} provides information as to whether you have to pay anything extra for this. In principle, the loan agreement expires automatically as soon as the last installment for the loan amount has been paid. Approval of a fresh loan amount must in turn be specified in writing by the borrower with the bank.

What are the credit rating criteria

It is a common fallacy that there is a loan even without a credit check. The credit rating is based on the result of the credit check, which in turn depends primarily on the “credit rating criteria”. The individual premiums on the loan are then defined. The higher the credit rating, the lower the interest rate. If the credit check gives a good result, this definitely has major advantages. There are quite a few differences between the various credit institutions when it comes to the classic credit rating criteria.

Leave a Reply

Your email address will not be published. Required fields are marked *