At some point, every consumer comes into the situation that he has a liquidity problem. It is usually the case when something larger is to be purchased and the available financial means are insufficient for this. Often the search for a financing option is very hectic and the idea of a loan matures in my head.
However, a loan is not always what can be described as a “simple solution” at this moment. Because who – for whatever reason – has a bad credit rating will find it difficult to find a good and worthwhile loan offer. Not even if loan brokerage without Credit Bureau is offered quite often.
What to look for when arranging a loan without Credit Bureau
Even if the offers sound very promising at first glance, the old saying goes: nobody has anything to give away. Not even the lenders who advertise a loan brokerage without Credit Bureau in warm words. Accordingly, it is also very carefully examined whether the consumer who is interested in such financing is really suitable for it. Credit Bureau and creditworthiness out of the question. If you cannot offer these two aspects as security, the security must come from another side.
For their part, the lenders charge high interest rates and usually also processing fees. They represent the first pillar of collateral. As a consumer and borrower, you also have to provide additional collateral. If there is no permanent employment relationship or the income is too low, a guarantor must be brought along. In addition, loans without Credit Bureau are always limited to 3,500 dollars.
Is there a fees?
When choosing the right provider, you should therefore look closely at who you are entering into a loan contract with. Are there any fees? If so, how much are they and what are they due for? In addition, you should have the interest broken down very precisely. If possible, they should not exceed 15%. If you consider that a conventional installment loan can already earn interest at less than 4%, 15% is a significantly higher sum, which also makes the loan very expensive.
If you look closely here, you can find and use a relatively good loan offer despite unfavorable conditions.