Who issues an instant Swiss loan without Credit bureau? What requirements does a prospective loan have to meet to qualify for a Credit bureau-free international loan. The article provides the answers to these questions and further detailed information.
Swiss instant credit without Credit bureau – serious international credit
With a ruined Credit bureau, finding a loan in Germany is practically hopeless. Sufferers have the only hope of getting a loan through a Swiss instant payday loan without Credit bureau, and the credit brokerage industry that advertises this loan solution does not necessarily have the best reputation. Regular reports appear in all media, which point to dubious machinations. This raises the question for many prospective creditors: Is there a reputable credit provider for a Swiss loan without Credit bureau?
The relief answer is yes. A Liechtenstein credit bank can legally grant Credit bureau-free loans to Germans. It was founded in 2010, in compliance with all guidelines, especially for this purpose. The Swiss loan should therefore actually be called Liechtenstein loan. All credit providers that offered Swiss loans without Credit bureau until 2009 were not trading legally. In the meantime, they had to stop working in Germany. This international loan is advertised as an instant payday loan or an emergency loan without Credit bureau.
The original offer, to which the advertisement for a Swiss instant payday loan without Credit bureau refers, is of course not a “real” instant payday loan. Nevertheless, this advertising exaggeration is forgivable. Many prospective customers associate the term “instant payday loan” with quick loan processing. With a real instant payday loan, quick processing is not possible without Credit bureau. The credit decision for an instant payday loan is based solely on Credit bureau’s credit rating and the score. As many case studies prove, quick credit approval and disbursement can also be achieved with a thorough credit check. Provided that the prospective customer has the right credit requirements.
Credit requirements – instant credit without Credit bureau from Switzerland
A Swiss loan without Credit bureau is not a loan without a credit rating. Credit bureau is only excluded from the credit check. An approved loan will not be reported to Credit bureau if the repayment is in accordance with the contract. Without checking Credit bureau’s creditworthiness, this is possible via the public debt register. If there is an entry in the debtor register, the credit request is rejected. Advertising that promises a Swiss instant payday loan without Credit bureau despite EV is therefore extremely unrealistic.
The further credit check takes place over the labor income. A loan without Credit bureau is always a loan without guarantor or security. Only income from dependent employment qualifies for lending. To do this, the employment relationship must be permanent and exist for at least 12 months. The level of income is also critical. The net income from work must be significantly above the garnishment exemption limit.
Even for a single borrower, a minimum income of $ 1,130 a month is required. Those who have to look after dependent persons will see this income hurdle rise sharply. A single parent with one child must provide evidence of at least $ 1,550 net work income per month. The amount of income required also depends on the desired loan amount. A single person who wants to apply for 5000 USD of Swiss instant credit without Credit bureau should receive at least 1,600 USD in net income.
Details on the Credit bureaufree international loan
You can apply for a Swiss loan without Credit bureau through a credit broker or directly via the website of the loan provider. It is more convenient via the credit intermediary. As far as is known, all reputable loan offers for foreign credit without Credit bureau relate to Cream bank. The following information therefore applies to direct application and without external costs.
Without Credit bureau, only two loan amounts are offered. A loan of USD 3,500 is possible at an APR of 11.62 percent. The loan is repaid in 40 constant monthly installments. The monthly installment for this loan model is USD 105.95. The effective annual interest rate includes processing costs of USD 164 and USD 574 interest for the term. A total of 4,238 USD will be repaid for a 3,500 USD loan.
The second loan amount offered has a volume of USD 5,000 net loan. The annual percentage rate for this loan offer is 11.61 percent. Repayment will be made in 40 equal monthly installments of 151.35 USD each. The effective annual interest rate includes processing costs of 224 USD and 830 USD for the term. In total, 6,054 USD must be paid off for a 5,000 USD net loan.
Anyone applying for the Swiss instant payday loan without Credit bureau from Liechtenstein through a credit intermediary must also consider the commission. The placement commission averages around three percent.