Would you like to reschedule debt and make a fresh start despite a negative Credit bureau? We have summarized information on credit options that make debt restructuring possible despite a negative Credit bureau.
Debt in spite of negative Credit bureau – extent of debt restructuring
Debt in spite of negative Credit bureau can be planned on a large scale or only on a small scale. The idea of eliminating a small old residual debt often arises when precisely this debt has caused the negative Credit bureau entry. Much can be achieved if the debt can be balanced and noted as done. Three years later, the Credit bureau will finally be clean again.
If the Credit bureau entry is not completed, the choice of loan is clear from the start. It is a loan without Credit bureau, only a foreign bank can grant the loan without Credit bureau. We are looking for the advertising of such a credit bank. However, the advertising of a credit broker who promises to find a Swiss loan without Credit bureau for debt restructuring is found practically without exception. If you would like to save yourself the placement fee, you can submit your loan application directly. As far as is known, there is only one foreign bank that approves legally Credit bureaufree loans to Germans, the choice of provider is easy.
Since 2010, Cream bank from Liechtenstein has been offering a legal loan option for Credit bureau-free loans. Such a loan can be applied for through a reputable credit broker or directly from the provider. As with all credit options with poor credit ratings, securing financing plays an important role. In the case of a Liechtenstein loan, only the labor income is looked at. Guarantors or real assets cannot improve creditworthiness.
Debt with a Credit bureau-free loan
Debt rescheduling despite a negative Credit bureau with a Liechtenstein loan is only possible for two loan amounts. The loan offer without Credit bureau is limited to USD 3,500 net loan and USD 5,000 net loan amount. Only one loan per applicant is possible. In principle, only employees in dependent employment are qualified for a Credit bureau-free loan. The employment contract must not be limited or terminated and must also have existed for at least one year. Marital status and loan amount play a role in the required income level.
For a credit of 3,500 USD, a single person must prove a net work income of at least 1,130 USD. For a loan of 5,000 USD, it is already 1,600 USD. Both loan amounts are only ever granted in connection with a fixed term of 40 repayment months. Nevertheless, there is the possibility of early loan repayment, but also the credit increase to the original amount. The effective annual interest rates mentioned below always refer to the direct application.
If a debt in the amount of $ 3,500 is to be rescheduled, an effective annual interest rate of 11.62 percent will be charged. The interest rate includes the processing costs and the debit interest. External costs cannot be recorded. Third-party costs can arise through a credit broker, the cash payment, postage costs and the costs for the certification of the transfer of income. Under the same conditions, the annual percentage rate for a loan of 5,000 USD is 11.61 percent.
Debt in spite of Credit bureau – domestic financing
A comprehensive debt restructuring, the merging of various liabilities, is usually not possible via a foreign loan. The loan amounts offered are simply too small for this. Rescheduling despite a negative Credit bureau is possible, even with a larger loan volume, via a domestic loan. However, the negative Credit bureau entry must be marked as done. Two financing options are available for debt rescheduling. A bank loan or a private loan would be possible.
If debt restructuring is not possible despite a negative Credit bureau through private donors, then the only option left is to try a loan from a specialist provider. Credit brokers know various credit banks that also allow a loan despite Credit bureau. The extra loan from Agree bank is particularly recommended for debt rescheduling. Again, the credit attempt can be made directly or through an intermediary.
The flexibility of an extra loan for debt restructuring is particularly appealing. Interest rates, however, are very sobering. Debt in spite of negative Credit bureau costs with the extra loan, regardless of the amount and term, 11.95 percent APR. Only a calculator or debt counseling can answer whether a debt restructuring still pays off.