Almost impossible to get a loan
If you want a loan, you usually try to apply for a loan from your house bank or via the Internet. However, if you have a negative Credit Bureau entry, you will quickly find that it is almost impossible to get a loan. A loan from German banks is very unlikely despite a negative Credit Bureau because the data must be checked with Credit Bureau before each loan is granted.
If a prospective customer has a negative entry, it is usually not possible to grant a loan, because the Credit Bureau data provide information about the creditworthiness and consumer creditworthiness. If the Credit Bureau classifies someone as not creditworthy, which is the case with a negative entry, there is no possibility for most German banks to obtain a loan. A loan despite a negative Credit Bureau is therefore generally not possible.
Get credit online despite negative Credit Bureau
It looks different on the Internet, here you can find many offers for a loan without Credit Bureau, because not only German banks grant loans, more and more foreign banks have discovered the German credit market for themselves. The loan despite Credit Bureau has been an integral part of the online loan offer for some time.
Via a credit intermediary, you can apply for the loan without Credit Bureau information from banks based abroad. There, a loan can be granted without problems despite negative Credit Bureau, because Credit Bureau does not play a role abroad when lending.
Accepting the offer of the foreign banks
For this reason, more and more German consumers are accepting the offer of the foreign banks and are applying for a loan without Credit Bureau. Since the creditworthiness of the prospective customer is not obtained with the help of the Credit Bureau data despite the negative Credit Bureau, foreign banks require other proof of this, that the borrower is able to repay the loan despite Credit Bureau.
To get a loan without Credit Bureau information, the bank must have a permanent employment relationship that must have existed for at least six months, as well as a regular income that must be above the garnishment limit. With appropriate evidence, a loan can be granted despite a negative Credit Bureau, but you should note the maximum loan amount of 3,500 or 5,000 USD.