Credit without credit score and proof of salary will be difficult to obtain in most banks, because the domestic institutions insist at least on the credit score query. But there are possibilities even under these difficult conditions. This article explains what they look like.
With this difficult starting point, many options are missing
At German banks, it is very difficult to get loans without proof of income. If there is no or negative credit information, the options become noticeably fewer. Not only is lending almost impossible under these conditions, everyday things such as online shopping on the Internet also fail because of this.
If you want to get a loan without credit score and proof of salary in neighboring countries, you have no problem with the protection association for general credit protection ( credit score ). However, he will fail there because of the mandatory proof of salary. Because the so-called Swiss credit that is often discussed in such situations can only be obtained with sufficient and provable income.
The loan without credit score and proof of salary can be realized by solvent guarantors
Given the lack of documents, German credit institutions are unwilling to lend. Unless the loan seeker also provides a guarantor with a good credit rating by applying for a loan without credit score and proof of salary. The guarantor could also act as another applicant, but in every constellation he must have the documents that the original borrower does not have, proof of salary and positive credit score information.
The credit risk now lies solely with the guarantor, but the bank treats the loan application when setting the interest rate as a loan without credit score and demands correspondingly high double-digit interest rates. Due to this fact, the guarantor could apply for a loan in the required amount and then lend the money privately.
The risk would not be greater for the guarantor, but with a good credit rating, the interest would only be a fraction of what a loan without credit score with a guarantor would cost. In addition, there remains the private loan market such as Auxmoney.