When applying for a loan, the customer signs a private credit clause. This not only means that the bank is allowed to obtain a private credit statement before the loan is paid, but also authorizes it to report the borrowing to the credit protection company.
Of course, the private credit entry of a loan in progress is not a negative entry, but it has an unfavorable effect on the score value and on the creditworthiness of further loans. For this reason, some borrowers want to be able to borrow without a private credit entry.
Which loans are not registered in the private credit?
Secure loans without a private credit entry are loans taken out by the pawnbroker. He receives a pledge as collateral and at the same time is not a contractual partner of private credit, so that he can neither make a credit inquiry nor report the lending. Also employer loans are usually not reported to the private credit, even if some employers perform a private credit request before the award.
Whether the mail order business approves installment payments as loans with or without private credit entry, buyers can not confidently foresee. With a small number of rates and small sums often no message. Energy providers regularly refrain from informing the private credit of an installment agreement if they accept the payment of the annual statement on installments.
When ordering by mail order, consumers will be provided with secure information on the registration or non-entry of the credit agreement, if they have obtained personal information or have established permanent online access to their private credit entries.
Swiss loans without private credit
Loans can be borrowed not only from German financial institutions but also abroad. The most intensive advertising in Germany are Swiss and Liechtenstein banks, which offer loans without a private credit entry and at the same time without a private credit request. The fact that the relevant institutions are not allowed to make a private credit request is necessarily the result of the fact that they are not members of the German credit protection association.
For some borrowers from Germany is important that the Swiss or Liechtenstein loans are issued without private credit entry, most of the customers of the respective banks choose a private credit-free loan, as a obtained from them private credit information contains at least one negative entry. The Swiss and Liechtenstein banks lending money in Germany secure themselves against payment defaults with above-average demands on the minimum income of their borrowers.
At the same time, lending requires a permanent job, while only a few Swiss and Liechtenstein banks also lend to freelancers or self-employed. Another common requirement of the Swiss and Liechtenstein banks to their credit customers is that they have the nationality of their respective country of residence. Settlement of the Swiss or Liechtenstein loan takes place in euros and via a German bank account of the respective bank, so that neither bank charges nor the risk of a foreign currency loan arise.