Most consumers have a rather divided relationship with Credit Bureau, and on the one hand they understand, of course, that there must be an institution that must store consumer law data related to financial behavior. On the other hand, they find it less exciting if precisely this stored data is the reason that, for example, they cannot take out a loan despite a Credit Bureau entry. It is not uncommon for the entries in the Credit Bureau to result in the bank rejecting a loan application or only approving it if very specific additional requirements can be met.
It is not even the case that only the negative Credit Bureau entries lead to a rejection. Entries that refer to further loans or to various inquiries for a loan can also lead to a rejection. The same number of telephone contracts, credit cards and accounts. As a consumer, you should therefore always ensure that finances are in order. In all respects.
But what must be done if a loan is to be taken out despite the Credit Bureau entry? How can you convince the bank that a loan makes sense even under such conditions?
In principle, loans can be taken out even under unfavorable conditions. It is only important that you as a borrower provide sufficient collateral and also offer this to the bank. If the Credit Bureau and the income for a loan are not sufficient despite the Credit Bureau entry, a second borrower, a guarantor or material collateral must be able to be offered. Otherwise, a good loan offer will not come about even with a high income.
In addition, as a borrower, you should ensure that your own loan requests are adapted to your personal requirements. Anyone who has negative entries in the Credit Bureau indicating open debts cannot ask any bank to offer a loan with a large loan amount at top conditions. However, if you are only looking for a small loan and take it up with the help of a second borrower, for example, you can assume that the banks are less averse to such a loan. It is therefore always important that the requirements match the requirements in order to be able to use a good loan in the end.
Where can a loan be taken out despite a Credit Bureau entry?
Borrowing is easiest if a comparison is made beforehand. As a borrower, you don’t just find out where the best loan offers are. You can also test immediately which loans are actually possible under the given conditions. There is also the possibility to experiment a little with the loan amount and the installments.
If you use a comparison calculator on the Internet, you do not have to worry that the search for a suitable loan will have a negative impact on Credit Bureau despite Credit Bureau entry. Because the comparison computers work without entering personal data, so that no notification can be made to Credit Bureau. Only when a loan offer has been found and the loan application is made to the associated bank must personal data be provided and disclosed. And even then the entry or the query of the Credit Bureau takes place.