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Swiss credit over 3500 USD

 

Swiss loans are mostly the loans without Credit Bureau paid out by Swiss banks to German borrowers. In a broader sense, of course, every loan paid out by a federal bank is a Swiss loan.

The classic Swiss loan and the limited payment amount

The classic Swiss loan and the limited payment amount

Only a few financial institutions pay out a Swiss loan of more than 3500 USD as a classic Credit Bureau-free loan. The main reason for the limitation of the loan amount is the reduced credit security, since the bank has no information about the borrower’s previous payment behavior and assumes that the borrower is applying for a loan in Switzerland because of a bad Credit Bureau.

If a Swiss loan requires more than 3500 USD, the number of possible credit banks is reduced significantly, since only a few of them have set the maximum amount to 5000 USD. With some Swiss financial institutions, loan amounts of more than 3500 USD are available if the borrower provides an additional guarantor. In this case, the guarantor, like the actual borrower, must have a sufficiently high income, and at the same time he must not be self-employed or self-employed at most Swiss banks.

Consumers often assume that if they take out more than one loan in Switzerland, they can raise more than 3,500 USD because there is no Credit Bureau request. This assumption does not apply due to the notification of all loans applied for in Switzerland to the Swiss credit protection agency ZEK. There is no currency risk with classic Swiss loans without Credit Bureau, as the settlement is carried out in USD.

Special financing

Special financing

In addition to the Credit Bureau-free loans advertised intensively by some Swiss banks, consumers in Switzerland can also take out car loans, construction finance and foreign currency loans. In this case too, the Swiss bank cannot make a Credit Bureau request because of the non-membership, but the freedom from Credit Bureau can be avoided by cooperating with a German credit broker.

In any case, the decisive factor for building loans in Switzerland is not the fact that they are free of Credit Bureau, but rather the combination of a favorable interest rate and the possibility of refinancing part of the loan amount due to exchange rate fluctuations. A federal real estate loan is of course a Swiss loan of more than 3,500 USD, which the bank has secured in a manner similar to a German financial institution through a real estate mortgage.

Even with a car loan, Swiss banks award amounts greater than 3,500 USD and, like any German bank, have the vehicle registration document handed out until the loan is repaid. In contrast to the predominantly advertised Credit Bureau-free loans from Switzerland, construction loans and partially car loans are not processed via a German account of the federal credit institution, so that additional bank charges are incurred.

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Credit with 400 USD income

 

 

More than seven million people are practicing a “mini job” in Germany. On the one hand, the popularity of these employment relationships increases, but often they are also accepted out of sheer necessity.

Mini-jobbers also have rights

Mini-jobbers also have rights

Employers stubbornly think that people with mini jobs are less protected under employment law than the so-called “normal” employees. It is a misconception that even mini-jobbers have rights against employers. Even with banks, but it can be a difficult thing to get a loan with 400 dollars income.

People who want a loan with an income of 400 dollars are far from being on the wish list of a normal banker. The jobs are mostly poorly paid and somewhat insecure. Since collateral is not exactly the first choice, banks are reluctant to grant a loan.

Perfect reputation and prerequisite

Perfect reputation and prerequisite

To receive a loan, guarantors and a positive Credit Bureau are absolute basic requirements. Banks like to see guarantors standing in when the original borrower can no longer pay.

There are very important requirements for the mini-jobber. This includes a positive Credit Bureau and a good guarantor. If the mini-jobber is unable to pay, the guarantor enters into the payment obligations, banks are happy about guarantors. The most important thing for them is that the loan is well secured and there are no difficulties with repayment. The chances of getting a loan with an income of 400 dollars can therefore be increased considerably if the applicant can deposit private deposits or certain goods.

If the loan amounts are small, an immediate loan or a loan without Credit Bureau should also be considered. Such loans are often offered by intermediaries. Both generally lead to high interest rates and processing fees. It is therefore worth considering whether you really need a loan with an income of 400 dollars, or maybe better to ask for support in the family.

A loan with an income of 400 dollars up to 25,000 dollars is currently possible. With an interest rate of 3.9% to 9.9% and a maximum term of 84 months, the interest rates are even relatively moderate.

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Credit during the trial period – advantages and disadvantages

A trial period is always associated with advantages and disadvantages. On the one hand, the employee can quickly change his job if he realizes that the job does not suit him. On the other hand, the employer is always right if the employee is no longer employed. So the risk of losing your job is particularly high.

No reasons need to be given during the trial period as to why the employment relationship will not continue, making this point a major disadvantage. It is precisely for this reason that people who work during the probationary period have a lot of difficulties in getting a loan during the probationary period.

Initial situation for a loan during the trial period

Initial situation for a loan during the trial period

There is a fixed income for a certain period of time, but nobody knows how long the applicant is really employed. Since he can immediately lose his job and thus his income, he is not welcome at banks when it comes to a loan during the trial period. Anyone who works during the probationary period and already has a contract in their pocket that proves that the employment relationship will continue will be treated like a normal borrower and will receive a loan without much “ifs and buts”.

Credit opportunities even during the trial period

Credit opportunities even during the trial period

Who does not know that? Invoices arrive that were not planned, the car has to go to the workshop or an important purchase cannot wait any longer. Something like this also happens to people who work during the trial period. So that this group of people can also take advantage of credit opportunities, they should not only offer their income, but also the income of a guarantor as security. It happens again and again that a guarantee is requested for a loan.

So should those who apply for a loan during the trial period. So there is enough collateral to get a loan. However, this should not be too high, because a loan must also be repaid. The amount should be manageable, so that only small repayment rates arise.

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Loan during pregnancy is possible

Pregnancy naturally changes the life of the pregnant woman and her environment considerably. The birth of a child is always a deep cut in your own biography. But in addition to many moments of happiness, many parents-to-be also think about the financing of the child. The support from the state is often not sufficient to carry out all important errands beforehand. After all, there is only child and parental allowance from birth. But the room, the stroller and other things have to be bought in advance.

A baby is not cheap

A baby is not cheap

Especially when couples are expecting their first child, the purchases that have to be made in advance should not be underestimated. Because the baby must have its own bed, a changing table, a wardrobe, a stroller and many other accessories. Vials, baby bathtubs, bed linen and the like may not be too expensive in themselves, but in total many parents are surprised at how much money you have to put on the table for all of this.

It will of course be even more expensive if a move is due due to the new family member. Often, these cumulative costs can only be paid with the help of a loan. But is it possible to get a loan during pregnancy?

Most banks grant a loan during pregnancy

Most banks grant a loan during pregnancy

Most credit institutions first check the creditworthiness of their customers before they are issued. Without a negative Credit Bureau entry, the chances of getting a loan are pretty good at first. For pregnant women who have a permanent job, there should be no problems with lending. On the one hand, they are protected against dismissal, on the other hand, they can expect to have at least 67% of their last net salary as income after birth.

This parental allowance is only paid for one year, but if the loan amount is not too high, a manageable term is often possible. With a sum of 5000 dollars, for example, you pay almost 300 dollars a month, which would pay off the interest in one and a half years. For most banks, this time and these sums are so manageable that nothing stands in the way of credit even during pregnancy.

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Failure to pay back payday loans – check the consequences

Failure to pay back payday loans has very unpleasant consequences for the borrower. He must reckon with the fact that the institution in which he incurs debt will demand repayment and use various debt collection tools. These are very different and what will be used depends on many factors. What are the consequences of not repaying a quick loan? No funds to pay back the loan – what to do?

Loan companies always want to get the money back. This is why, with delayed customers, they try to reach an agreement at the beginning and do not immediately proceed to hard debt recovery. If you do not have the means to pay back the loan on time, you can choose to postpone the payment. The loan agreement says whether refinancing is possible. It also specifies the cost of postponing the loan. People who have problems paying back payday loans should always contact the Funding Square Bank, even if it has already started the debt collection procedure. Avoiding contact causes even more problems.

See also how to pay off payday pay if you don’t want to get into debt.

Late loan repayment – consequences

Late loan repayment - consequences

The first consequences of non-repayment are already on the first day after the deadline set out in the contract. At the beginning, the loan company charges the maximum possible contractual interest for late repayment. Thanks to the introduced act on payday loans, currently the maximum percentage is 14% per annum. In addition to the penalty costs, the loan company launches an internal debt collection procedure, which aims to effectively and quickly recover the outstanding loan repayment. Internal debt collection procedures include sending reminders and reminders through various communication channels. Apply among others SMS messages, emails, registered letters, telephones. Persistent avoidance of payday payback also means negative entries in the databases, which results in deterioration of credit history and problems with taking another loan, loan or inability to purchase in installments.

External debt collection

External debt collection

When internal debt collection fails, the loan company decides to transfer the case to external debt collectors. The debt collector contacts the unreliable borrower by phone or in person and he is intensively seeking repayment of the loan. When that doesn’t work and the borrower continues to evade its obligations, the case will be referred to court.

Settlements regarding overdue obligations are usually carried out by means of the EPU, i.e. Electronic Reminder Procedure. Its completion is the issuing of a 14-day payment order. Ignoring a court order means bailiff execution. A civil servant can seize real estate and other movable property, e.g. salary, benefits and other account receipts.

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Long-term loan – Best providers

 

Many people take out a loan at least once in their life. Whether car finance, real estate loans or instant loans – there are plenty of opportunities and reasons for borrowing.

If you want to keep the monthly payment burden as low as possible, you should opt for a long-term loan. This allows you to borrow a relatively large amount without being overwhelmed by the monthly installments. Whether 80, 120, 180 or 360 months – if you are creditworthy, you can choose any term.

Long Term Loan – Who Is It Suitable For?

Long Term Loan - Who Is It Suitable For?

Especially with large loan amounts, it is important that you have your finances under control and do not fall into the debt trap. For this reason, it is worth choosing a long-term loan. Even though the interest rates are higher with a long term, you will benefit from such a loan. What use is it to you if you have low interest rates, but the terms are too short and the monthly rates are too high? Such an imbalance can quickly result in financial chaos that, in the worst case, can endanger your family’s existence. For this reason, it is better to choose a long-term loan and keep the risk of insolvency as low as possible.

The best providers at a glance

The best providers at a glance

Of course, choosing a loan is not a snap. There are many factors to consider when choosing the right bank. Not only are low interest rates important – nowadays sufficiently long and above all flexible terms play an important role. A comparison on the Internet will find out which online banks can offer you cheap loans. Hours of bank visits, annoying phone calls and comparing written offers are now a thing of the past. Once you have found the right loan, you can easily apply for it online. The agreed loan amount will be transferred to your checking account just a few days after the contract has been processed.

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Credit without asking the employer

Borrowers occasionally express concerns that the bank would seek information from the employer before paying the money. Such a request is extremely rare in reality, because in most cases banks accept that almost nobody wants to inform the boss about borrowing.

Can the bank ask the employer at all?

Can the bank ask the employer at all?

In most cases, the loan applied for is granted to the customer’s employer without asking, as the data protection regulations only permit information in strictly regulated exceptional cases. The bank requires the applicant’s express consent to consult the employer and may not state the exact reason for the request. The mere indication of the address of the employer does not meet the requirements for queries from the bank to the employer.

The bank receives the amount of income from the submitted salary statements. If she wants to know the status of the employment contract, she can also request that it be presented to the loan applicant. This shows whether the employment contract is temporary or permanent. For large amounts, lenders are more likely to ask the applicant to provide a certificate that the employment contract has not been terminated than to make a time-consuming request.

According to widespread stories, some banks call the employer and are put through to the loan applicant. Neither the switchboard nor the employer find out the reason for the bank call, but corresponding control calls are only possible if the borrower has an extension, which is almost never the case with production employees.

In most cases, the bank grants a loan to the employer without asking, even if the appropriate right is granted in the loan application. However, if the bank customer deleted the relevant passage in the loan application, he would raise doubts as to the correctness of his information and risk rejecting his loan request. The passage of a possible query to the customer’s employer is no longer listed in many loan applications.

Inform the employer about the borrowing

Inform the employer about the borrowing

If, with exceptionally high sums, a loan is not granted to the employer without asking, the customer should inform his boss about the expected bank request. This is especially true when it comes to building finance or real estate to be bought. In these cases, it is advisable to talk to the employer anyway, since many companies offer the option of taking out an employer loan.

This naturally only covers a small part of the costs of real estate financing, but is associated with extremely low interest rates and is regarded by most banks as part of equity. Even if there is a passage in the employment contract stating that the activity requires regulated financial conditions, taking out a loan in an appropriate amount is usually not a problem.

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The process of borrowing money without Credit Bureau

The Credit Bureau request that is customary for a loan application made in Germany ideally protects the lender against payment defaults and the borrower against over-indebtedness. However, it is problematic for many applicants that even if they fail to pay once for at least three years, it makes it difficult to borrow, even if the overall financial situation has demonstrably changed.

The immediate approval means that an automatic system of the lender checks online immediately after submitting the loan application whether a payment is possible. An immediate commitment is not automatically linked to an immediate payment, which means the transfer of the loan amount within two bank working days.

Apply for Credit Bureau-free credit

Apply for Credit Bureau-free credit

Employees with a fixed income, at a few financial institutions also self-employed or freelancers, can apply for a loan without Credit Bureau and with immediate approval from a Liechtenstein or Swiss bank. The monthly income when taking out a Swiss Credit Bureau-free loan must be higher than at many German credit institutions, most banks charge 1100 dollars for single-person households and do not count child benefit as income for families.

In addition, Swiss and Liechtenstein banks require borrowers living in Germany to have German citizenship and a maximum age of borrowers of fifty-eight, sometimes even fifty-five. Existing negative characteristics at Credit Bureau are insignificant for borrowing, as Swiss or Liechtenstein banks as non-members of the German credit protection system receive no information.

Since the borrowing is not entered in the Credit Bureau file at the same time, a Swiss or Liechtenstein loan without Credit Bureau with immediate approval is also suitable for credit customers who do not want to worsen their score due to a later planned borrowing. The amount of the Swiss loan without Credit Bureau and with immediate approval is also 3500 dollars, with a few banks to 5000 dollars.

Borrowing process

Borrowing process

In the case of a loan without Credit Bureau with immediate approval, the online computer of the selected bank checks whether the loan application can be paid out immediately after completing the loan application. The immediate acceptance is subject to the proviso that the data provided are correct and that there are no negative entries with the Swiss credit protection agency ZEK.

Of course, the ZEK only learns about borrowing in Switzerland and therefore has no information about most German applicants. After reviewing the credit documents to be submitted, the bank pays the loan without Credit Bureau with immediate approval in dollars.

There is therefore no currency risk for the borrower, since he also repays in his own currency. To ensure that the customer does not incur bank charges when repaying, the credit institutions active in German lending to German banks have a checking account with a bank in Germany. The interest for a Swiss loan without Credit Bureau and with an immediate commitment is slightly higher than for comparable German loans.

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Instant loan with cash payment

Anyone looking for a loan usually compares the offers of the individual financial institutions with each other. The Internet offers plenty of opportunities to find the best deals. But sometimes a comparison is of little use if the money is urgently needed. The first point of contact is then either the house bank or another branch bank, because this is the only way for the borrower to receive the money in cash at the counter.

When things have to go quickly

When things have to go quickly

Loans can be applied for over the Internet, but the payment is made by transfer to the borrower’s checking account. It takes a few days for the entire process to be completed. Documents must be submitted to the bank and both business partners must sign the credit agreement and send it back.

The transfer can also take a few days, especially if there is a weekend in between. However, if the money is needed immediately, there is only the way to a branch bank for the reasons mentioned, even if the conditions here are worse than at online banks.

The branch banks are faster

The branch banks are faster

In most cases, the house bank is the first address for an instant loan with cash payment. An appointment with the clerk is quickly made. If one agrees and there are no complaints at Credit Bureau, a loan contract is concluded. Usually, the money is also transferred to the borrower’s account at the branch banks.

However, to speed up the process, the borrowers can also have the money paid out in cash. It is not unusual. That is also the decisive advantage of a branch bank, because of course no cash payments are possible over the Internet.

Good offers are lost

Good offers are lost

In the case of an instant loan with cash payment, borrowers must be aware that they must forego the advantage that a bank comparison can bring. Borrowers have to accept higher interest rates and poorer conditions with an instant loan with cash payment.