Credit bureau-free loans for the unemployed can only be approved to a very limited extent. In such a situation, no loan is to be expected from a normal commercial bank. Only the search for offers from credit intermediaries or a special bank remains possible.
Credit bureau-free loans for the unemployed – problem
Credit bureau-free loans for the unemployed are problematic for two reasons. Even the desire to get a loan without Credit bureau precludes any house bank. In addition, almost all loans from senders of goods and ordinary online banks are always associated with a view of the Credit bureau. A negative entry, regardless of whether it is done or not, excludes lending. This leaves only special providers as potential partners.
Commercial providers of loans without Credit bureau do not see the Credit bureau entry as a co-criterion. They secure their lending in another way. In the case of negative Credit bureau, the income side is decisive for this form of risk credit. Additional collateral in the form of property collateral or guarantees is also expected.
It depends on these guarantees whether an unemployed person is qualified for the loan. If such a loan becomes possible at all, then the costs of brokering the loan and risk interest must also be expected. Financing costs can also skyrocket through credit insurance benefits.
Private donors as a source of finance
Credit bureau-free loans for unemployed from private investors are fundamentally possible. The loan request without Credit bureau can be published without problems, at least among the market leaders for personal loans. All you have to do is activate a fee of around USD 10. Without activating the Credit bureau certificate against renewed payment, only the formulated credit request can convince investors. With this approach, nobody should promise large amounts of credit.
Most bidders ignore a loan request without Credit bureau. It would be possible to improve the credit chances somewhat by security. For example, the Lite lender could be offered as security. A micro-loan for a new washing machine would at least probably be possible through disproportionate property security or a guarantee. Beyond this credit line, nothing can be expected from private customers even if Credit bureau information is poor or not certified.
Anyone can get into an emergency. Unforeseen expenses have exhausted the budget. In the context of unemployment and a bad Credit bureau, the saving overdraft is not available. Most other credit options are also ruled out. With the 2010 Agenda, the state has withdrawn from its responsibility towards the citizens. Immediate help from the social welfare office is hardly granted even as a loan.
In this situation it is still possible to ask the churches. Churches and social organizations still sometimes provide emergency aid. If such a microcredit is granted, it is even interest-free and repayable in the smallest amounts. Credit bureau-free loans for unemployed with cash payment can also come from the pawnshop for a deposit.