There are many situations in which a sudden need for money arises for various reasons. The most common reasons are the broken car or important repairs in the apartment. But to get a loan, you usually have to meet certain requirements. A Credit Bureau entry or the lack of a regular income can be a significant obstacle. But even in these cases it is possible to get a suitable loan if you know how and where.
Get Credit Bureaufree credit without proof of income from banks
When looking for a loan, the first way usually leads directly to a bank. But a Credit Bureau-free loan without proof of income is practically impossible to get. After all, the bank wants to be sure that the borrower can also repay the loan. However, to guarantee this, a borrower can skim off a few options. The best way to get such a loan is to provide collateral. Since there is often no financial security available in a situation in which a Credit Bureau-free loan without proof of income is required, there is only the possibility to include a guarantor in the loan agreement.
A guarantor is another person who is entered in the loan agreement and is considered to be a guarantee of the loan. A guarantor must meet all normal bank criteria for lending. He must have sufficient income and a permanent employment contract, must not have any entries in the Credit Bureau and must be prepared to take the risk.
A guarantor has to vouch for the repayment of the loan with his own assets and assume the installments if the original borrower is unable to pay. If such a guarantor is available, a bank can also obtain a Credit Bureau-free loan without proof of income.
Credit Bureau-free credit without proof of income from private lenders
If you are afraid of going to the bank, you should look for a private lender. A private lender has considerable advantages, especially the level of interest is often hardly existent with such a lender. As a rule, such a lender comes from your own circle of friends or relatives and has a corresponding financial reserve in order to be able to grant such a loan quickly and without much effort. Above all, the speed of lending is often much higher with such a lender.
It is important that a credit contract is also concluded with such a personal loan so that both parties are adequately secured. Even if most private lenders do not charge interest, the borrower should at least offer interest that corresponds to the usual interest on savings books. Such a loan does not result in a financial disadvantage for the lender, which can further reinforce the positive credit decision.
It turns out that even with a Credit Bureau entry and without verifiable income, it is possible to get a suitable loan. It is important that the personal circle of acquaintances or relatives is brought in to help, but in this case there is nothing to prevent such a loan.