Credit Immediately Without Credit Bureau – instant loan online.

Anyone who knows about negative entries in the Credit Bureau or fears that such dark points are registered in the payment history, will often apply for a loan immediately without Credit Bureau. Rational is not this behavior, because with or without Credit Bureau – a credit check takes place before any credit agreement, if you do not lend the money just in the family or friends. With Credit Bureau, the conditions are by no means worse, in most cases even better. And rejection of a loan can be salutary if it shows a way out of over-indebtedness.

What the Credit Bureau knows about you

What the Credit Bureau knows about you

More than eight hundred million records for nearly seventy million people and five million companies are stored at Credit Bureau. Data protectors, the Credit Bureau is just as a thorn in the eye as credit interested parties whose application for a Credit Bureau information has been rejected before. Before making a loan application, you should know what Credit Bureau has stored about you, so you may be able to correct or delete any erroneous data.

The information required by the Federal Data Protection Act must be provided to Credit Bureau free of charge on request once a year. However, the Credit Bureau does not make it easy for you – the document is only available by post and only comes with a few weeks delay. It goes online faster, but that makes the Credit Bureau pay, either once or as a subscription.

Think carefully about whether you really need this performance. From the stored data, a base score and various industry scores are calculated. For the lending especially the bank score is interesting. According to a point system, a credit rating between A (0.85% default risk) and M (34.75% default risk) is determined.

Banks are required to conduct a credit check

Banks are required to conduct a credit check

The German financial institutions use the Credit Bureau bank score in order to comply with their legal obligation to check the creditworthiness of consumer credit in particular. Similar regulations exist throughout the EU and in many other countries. If it is not the Credit Bureau, then it is other business information services that examine the applicants. So no one comes without a credit check, by the way also not with personal loans, as they are mediated by Best Lender, Cream Bank or Capital Lender. So what speaks against accepting the Credit Bureau query?

The circle of providers is higher, confidence strengthened, interest rates usually cheaper. If a lender rejects the application for the Credit Bureau entries, it should be reason enough to think – about its own diligence in money matters, but also about the current debt level. Instead of a new loan, which is needed immediately and without Credit Bureau, a sound rescheduling of all existing obligations for a longer installment loan would be the appropriate and also cheaper solution.

7 important points to apply for a personal payday loan

 

Requesting a loan is something that, sooner or later, you can find yourself doing at least once in your life. Even if you are the biggest savers in the world, you may always find financing needed : to buy a new machine , for a new refrigerator, or to finance the expense of a degree course or a trip .

If you have never applied for funding, there may be some ” dark ” points to which you may wish to find an answer. In this article, therefore, we will address and explain the key factors to take into consideration to find the best personal payday loans, the ones that best suit your needs. and circumstances.

What do you need?

What do you need?

The first thing is to know the purpose of the loan so that you know the type of financing to seek . It is not the same to apply for a loan to buy a car or to follow a course of study. The difference could lie in the interest rate, in the total amount of money that can be asked for or in the method of repayment (for example, the transfer of the fifth is repaid in a different way compared to a personal payday loan ).

Analyze the loan market

With the internet, everything is very easy. You can simply visit the various sites and comparators to find the banks that offer the best loans on the market, what are the characteristics and conditions of the financing. In this way you can get a better idea of ​​what the market offers in the personal payday loan sector.

Calculate the monthly installment of the loan

Carrying out the calculation of the loan installment is important because you can have a better and more precise idea of ​​how much to pay month after month. In the calculation of the monthly fee, other ancillary expenses, such as opening or managing the case and loan insurance must also be included.

An important decision is the one concerning the percentage of monthly budget to be allocated to the repayment of the monthly installment. Usually you should not reserve a percentage greater than 20% of your monthly budget to the amount of the loan installment.

Do not forget the interest rate

Do not forget the interest rate

Generally, personal payday loans have an interest rate of between 8% and 12%. The key thing in choosing a loan is to opt for the one at the lowest possible rate. To be considered that the comparison must be made using the APR ( Effective Annual Global Rate ) because this is the interest rate which includes all the ancillary costs associated with a loan (excluding the cost of loan insurance, which is optional except for the transfers of the fifth, for which instead they are mandatory coverages).

Remember that there are two types of interest: the APR and the TAN.

Remember that there are two types of interest: the APR and the TAN.

The APR (annual percentage rate of charge) is the interest rate that indicates the overall expense of a financial loan. The APR is calculated according to a mathematical formula which takes into consideration the nominal interest rate of the loan, the repayment frequency of the installments (monthly, quarterly, etc.) and ancillary costs.

The TAN is the cost that a loan has only and exclusively for the interest rate.

Don’t forget the ancillary costs

Loans have many associated expenses, the most common are:

  • cost of opening the loan : the expense related to the opening of the loan contract is usually calculated as a percentage of the sum requested (there may be a minimum). Although not all banks say so, these charges are not to be incurred if the bank refuses to grant the loan
  • loan repayment cost : an expense that is calculated as a percentage of the amount of money repaid early. Usually this value is equal to 1%. in any case, it can never be greater than the interest cost to be paid in the event that the loan continues to be repaid
  • installment collection fees : these are periodic costs that must be borne for each installment that you pay. They represent the expenses that the credit institution incurs when collecting the installment

Read the contract carefully

As you do with any financial product, it is essential to read the contract carefully before signing , even the smallest indications.

If you have questions or don’t understand something you should always ask before signing.

The law protects you

A final point that many people are unaware of is that the law allows you to repay the loan at no cost and without explanation within 14 days of signing the contract . If, on the other hand, the contract has been executed, even partially, the customer has 30 days to withdraw by repaying the capital obtained, the interest accrued up to that period and the costs that the bank has incurred.

If you have other questions, tell us in the comments, we will be happy to help you.

From what income does one get a credit – instant loan online.

 

Regular income from permanent employment (regular monthly payment). For consumer credit, the amount of credit granted by the bank depends mainly on the monthly income. This includes in Germany, whether there is a Credit Bureau entry, ie whether the credit rating is given. Salary, pension USD Please check your entry. If your partner has only a mini-job, the income in the account should be halved, which increases planning security.

So much income is needed for a home.

So much income is needed for a home.

Cheap mortgage favors the acquisition of real estate. How much income you need and how high your burden can be – a rule of thumb: The low mortgage rates make a home accessible to many residents. Property owners have more space to choose from than tenants. Cheap mortgage favors the acquisition of real estate. What is the maximum amount that can be used to charge the household budget?

According to a survey by the Federal Statistical Office, the homeowners live in larger multi-family dwellings. Only 38 sqm of rental space per person can be distributed by the owners on 47 sqm. 

The reason for this is probably the large number of rental apartments in Berlin, while many host families live in residential buildings in the rural southwestern part of the Federal Republic. What monthly mortgage debit is home ownership possible and how much income do mortgage lenders need?

With the exception of the federal states in the south and in the Hanseatic city with above-average purchase prices, according to a study by the empirica research institute, around three quarters of all private households in the rest of Germany can buy a house on site.

It is based on the annual net income

It is based on the annual net income

Accordingly, each household can acquire a property if it has an annual net income and the cost of building cost financing does not exceed 35% of household income, However, care must be taken to ensure that sufficient income and a certain amount of equity capital are available and that the favorable interest rates are fixed as far as possible until the last tranche.

Insurance companies such. For example, alliances or even traditional banks, currently offer very cheap mortgage loans with a fixed interest rate of 20 years. Example: A host family with an annual income of $ 40,000 who purchases a terrace house for $ 300,000 and a construction cost of $ 260,000 at 2.48% effective interest, pays $ 964 per month to the house bank with two percentage points initial repayment.

This means less than 30% of the gross monthly gross income available.

What is the meaning of credit sum?

What is credit sum and how does the credit sum work?

What is credit sum and how does the credit sum work?

The credit sum is the amount of your loan and depends on the amount that you want to borrow and can borrow responsibly. The rules regarding your credit amount differ per loan type and provider, but always relate to your financial situation and your family situation.

Calculate credit sum

Calculate credit sum

If you want to borrow money, you first determine the amount you need. For a specific purchase you usually know what amount you need. But it could also be that you, for example, want to finance a renovation of your kitchen. Of this kind of expenditure you often do not know exactly what it will ultimately cost. However, it is often possible to estimate the amount that you think you will need.

The lender also influences the amount that you borrow. This always checks your BKR registration first, because you cannot borrow money with a negative BKR registration. The bank then determines the maximum amount that you can borrow based on your financial situation and family composition. The bank calculates your borrowing capacity by deducting your fixed income and the amount that you need each month to make ends meet (the borrowing standard) from your monthly income.

Based on this data, you and your bank determine the credit sum of your loan.

Credit for personal loan

Credit for personal loan

With a personal loan you borrow a fixed amount that you repay in installments. Once you have taken out the loan, you will receive the amount in your account and you will immediately start paying. You can then spend it yourself on a new car or fridge, for example.

The credit sum of a personal loan cannot be changed during the term. Does it later appear that you still need extra money, because the renovation of your bathroom, for example, is more expensive than expected? Then you have to take out a new loan. Optionally, you can transfer your personal loan to another bank if you still want to adjust the credit amount.

Credit sum revolving credit

Credit sum revolving credit

With a revolving credit you do not have a fixed credit sum. You do have to deal with a fixed credit limit. A revolving credit means that you get an amount that you can withdraw at once or in parts. If you have repaid a part, you can re-record that part later. The credit sum, the part that you actually borrow, can therefore always change.

The fact that you can withdraw again and again can be an advantage of the revolving credit. If you unexpectedly need an extra amount, you do not have to take out a new loan. At the same time, you will also be tempted to borrow more than you need. Try to close your credit limit as low as possible to prevent this.

Tip! Not sure whether a personal loan or revolving credit suits you better? The article “Personal loan or revolving credit?” helps you on your way.

Credit sum and costs

Credit sum and costs

Try to keep the credit sum as low as possible. The more you borrow, the higher the interest amount. You also take longer to pay off with a higher credit sum. The amount that you pay in interest will increase if you take longer to repay.

Tip! Do you have extra money once, for example because you have received holiday pay? Then consider whether you can use this for the extra repayment of your loan. With this you lower the credit sum, which means that you will also pay less interest.

The difference between the most expensive and cheapest loans is 700 USD per year on average? Do you also pay too much for your loan? 

Loan: understand the main differences

If you are looking for loan information , you have most likely come across conflicting data, which caused doubts or did not make you comfortable choosing the best option for you, is it not?

The truth is that the market offers several possibilities for personal loans . Hence the importance of getting to know each one better. Only then will it be possible to make a smart choice that will actually help you achieve your goals without the chosen credit line becoming a problem in the future.

To help you make the best decision, we have listed important information and some of the differences between the main loan types available on the market. Check out our post!

After all, how does a loan work?

After all, how does a loan work?

When opting for a personal loan, you make a commitment to the bank or financial institution in which the credit was requested. In exchange for the money you need, the financial institution offers certain conditions so that this amount is always returned with interest rates established during the analysis of your application.

That’s where the importance of a good choice comes in. In view of the different existing credit lines, it is natural to find variations in interest rates and the way in which the amounts will be returned. For this, knowing more about the types of loans is what will determine the best option for your profile.

Types of Personal Loan

Types of Personal Loan

1) Revolving loan

The revolving loan is the one related to the credit card. It is used when the total amount of the invoice cannot be paid or cannot be paid within the due date. This type of loan is open to both individuals and companies. To use it, just make the payment of any amount of the invoice between the minimum and the total. The rest will be automatically financed by the bank and charged to the next month’s invoice, plus interest rates.

The revolving loan is considered the most used form of credit on a daily basis, as it is an emergency and does not need conventional bureaucracies to be acquired. However, what many fail to consider is that the credit card has one of the highest interest rates on the market. Because of the convenience, it is widely used, which is a mistake when there is no planning and when not considering all the characteristics of this credit line.

If you choose not to pay the full amount of the invoice, you must keep in mind that the following month interest and accrued charges must be paid. Thus, the revolving loan is a modality that requires total care and planning so that the debt does not accumulate or take on a much larger proportion than the initial value.

The most recommended is to regularize the outstanding amount as soon as possible, preventing the debt from becoming a “snowball”. According to a survey, the credit card is the reason for default for half of the people who are negative or who have been in this situation in the last 12 months.

2) Overdraft

2) Overdraft

The overdraft is nothing more than the limit available in your checking account. Because it is a value that can be used very easily, people usually incorporate it into their own money in their accounts and often see it as a supplement to their income.

But that is exactly where the error is. Because it is an easy to use loan, financial institutions have no guarantees that it will actually be repaid. Thus, they raise interest rates to the maximum as a form of security in cases of default.

In relation to charges, the overdraft is very similar to the revolving loan. If it is not paid quickly, it can result in a debt with twice the initial amount. For this reason, it is a credit line that should only be used in cases of extreme need, with solid planning so that it is paid off as soon as possible.

Evaluate this type of personal loan very well , an amount that seems low and simple to pay can get out of control and cause your name to be included in the credit protection agencies.

3) Payroll Loan

Corresponds to the personal loan discounted directly from your monthly income. It is aimed at retirees, pensioners, civil servants and workers in the private sector. This credit line is one of the most used by those who have high debts to be paid or even by those who have an old project that was postponed due to lack of resources.

The payroll loan creates a “conditioning” of monthly payment, since the installments will necessarily be deducted from the payroll and, thus, the risk of default is much less. Precisely for this reason, interest rates tend to be lower compared to the rest of the market because there is greater guarantee that the loan will be paid.

But be warned, this type of loan is more restricted than the others, both in terms of the applicant’s profile and in the way of paying it.

As mentioned, to request a payroll loan, it is necessary to have a fixed monthly income, proven through a portfolio or payroll. In addition, for workers with a formal contract, it is only possible to make this type of loan if the private company or public agency where they work has an agreement or partnership with any bank or financial institution that offers the product.

In order to apply for payroll loans, it must be borne in mind that the loan amount cannot exceed 30% of your monthly income. This credit line allows the installments to be divided into as many times as is best for the applicant and, generally, the money falls directly into the consumer’s bank account. However, if there are difficulties in paying one of the installments, negotiating it again is often complicated and offers greater resistance.

Another important point that must be taken into account is that, when choosing the payroll, your monthly income will no longer be obtained in full during the period in which you are paying the installments. They are discounted before payment is received. So it is worth evaluating very well before deciding.

4) Personal Credit

4) Personal Credit

The personal credit – or personal loan – is the main line of credit to individuals, offered directly by banks or financial. It is aimed at consumers who have some kind of link with the services of the financial system, such as checking account, salary account, check or credit card. This type of loan is usually used for more immediate occasions, such as medical expenses, payment of other debts, expenses with renovation or purchase of assets.

For personal credit to be granted, it is necessary that the applicant has a good payment history, in addition to not having a negative name in credit protection agencies. All this because consultations will be carried out before the loan is released.

Precisely because of this consultation with the consumer’s history, personal loans allow interest rates to be more variable. The credit will be granted only if the applicant is approved by the credit protection agencies and, therefore, better able to meet the debt. In addition, there is no need to offer collateral or disposal of an asset. The hiring is accessible and agile, made by signing a contract. Each case will be analyzed in a different way, according to the consumer’s needs and their financial situation.

Another positive aspect of personal credit is the varied ways in which it can be paid. Current account debit are the most used forms. You choose the way that best fits what you need. But be careful, as with any form of loan, interest will be added to the installments and the best way to keep your debt close to the amount you borrowed is to pay it off with the least amount of installments possible.

Have you been able to better understand how the main types of personal loan work? Count on Personal Loan to help you achieve your goals and continue to follow our blog. Soon, more guidelines on financial education for you to plan better.

What is a credit broker and what should you look out for?

You can apply for a credit or loan through a credit broker. A credit broker works for different lenders or banks, so they often offer lower interest rates and can act faster. But a professional credit broker can also provide useful advice. Credit brokers can be divided into three categories:

  1. Unbound brokers
  2. Bonded brokers
  3. Connected mediators

Credit intermediary – What should you look out for?

Credit intermediary - What should you look out for?

Do you choose a credit broker? Pay attention to the following points:

  • Does the credit broker have a Wft license?
  • A small number of credit brokers affiliated with the Good Finance). This association places great importance on honesty.
  • Always ask what costs the credit broker charges.
  • Do you want advice from an unbound, tied or tied credit broker? Which lenders does the broker include in his advice?
  • Do the costs of an opinion outweigh the benefit that you derive from this advice?

Credit intermediary – 3 categories

Credit intermediary - 3 categories

It is important that you know what type of credit broker you are dealing with. This determines the degree of freedom that the credit intermediary has to make a complete comparison between all lenders:

1. Unbound mediator

An unbound credit broker works independently and can therefore give you advice in which he involves all lenders. This credit broker has not entered into contracts with certain lenders.

Some unbound credit brokers give you an objective analysis of all loans. This means that he looks at all the loans before he gives you advice. It is also possible that the mediator works on the basis of a selective analysis. This means that he does not include every lender in his analysis. You will therefore not get a complete picture of your options. In this case, the mediator must indicate which providers are included in the analysis.

2. Bound mediator

A tied broker has his own license to provide advice, but is not completely independent. He has indeed made agreements with certain lenders. This can, for example, be an extra reward for loans taken out. The credit intermediary must indicate with which lenders he has made agreements.

3. Connected mediator

Affiliated credit brokers are not independent and act from a certain lender. Often this broker is an independent entrepreneur, but falls under the responsibility of a certain lender. If you ask this credit intermediary for advice, he will only compare the products of the lender he works for. This does not mean that this advice is useless. In the advice, he will look at your personal situation and he will, for example, advise on which loan is justified.

Credit brokerage or take out a loan yourself?

Credit brokerage or take out a loan yourself?

You can easily apply for a loan yourself. But would you like someone to look at your personal situation so that you are sure that the loan suits you? Then credit brokerage can be a good idea. For example, many people opt for credit brokerage when they take out a mortgage. Whether credit brokerage is better than choosing a loan yourself depends on the size of the loan and what you find most comfortable. You can also check in which case the costs of credit mediation outweigh what this advice yields.

If you take out a consumer loan yourself, the bank will check whether the loan is not too high for you. But you will not receive personal advice about whether the loan is justified, for example. So calculate for yourself which loan suits you and which monthly charges you can pay each month for repayment. Calculating the costs is important, because you have to charge an extra amount on top of your fixed costs each month when you start paying.

Why choose a loan without a mortgage guarantee?

A loan without a mortgage guarantee will avoid guarantee fees and mortgage fees. The mortgage-free buyout is a good fit for homeowners who wish to borrow to repay all of their current loans without offering a mortgage on their property to the bank.

Why is a mortgage guarantee required?

Why is a mortgage guarantee required?

When you apply for a mortgage from a bank, the bank will ask for a mortgage or a deposit.

The mutual guarantee or bank guarantee is offered by financial institutions to guarantee a mortgage. It is less expensive for the client because it avoids the payment of a land tax. In return, the borrowers must pay to the surety company, as soon as the mortgage is put in place, a contribution to a mutual guarantee fund and a commission. The contribution can be returned at the end of the loan if there has been no outstanding payment. What consequences for unpaid bills? The surety company agrees to pay instead of the debtor. The housing loan is specialized in the guarantee of mortgage since 1975.

A mortgage set up by a notary gives a guarantee to the lending institution. It will be published in the land advertising service. We will talk about mortgage credit or mortgage loan. In case of unpaid bills, the bank may proceed to seize the property and ask for its sale to settle the loan, of course if no amicable solution has been found. No bank makes a seizure with joy, it is a failure of negotiation.

The loan guarantee fees are not always included in the loan application. Some banks require that they be financed by a personal contribution.

A loan without mortgage guarantee to consolidate its loans

A loan without mortgage guarantee to consolidate its loans

When you used our credit pooling simulator, you found that it is possible to redeem credit over 120 months. Over a short period like this, you will not be asked for any mortgage guarantee. In addition, we are proposing fixed rate borrowings. For example, for a credit buy-back of 50,000 USD, it will be pointless to propose a mortgage because the amount is small.

Unsecured mortgage borrowing is simpler and faster to set up. As part of a credit redemption, it will allow you the early repayment of all your loans and especially to obtain a single smaller monthly payment adapted to your budget.