Because this entry was made in the past because bills or installments were not paid or not paid on time. The question then arises for a financial institution whether it is possible to rely on the customer this time or whether the customer may no longer pay at some point. This is very annoying for a loan seeker, because he will be punished for a very long time, perhaps for a harmless failure from the past.
You can find cheap loans on the Internet
A credit bureau-free credit with an instant confirmation is best found on the Internet. Here all providers present their offers and it is also possible to find institutes that do not value credit bureau information. However, one has to say that the interest to be paid is often higher in this case. With other loan offers, the interest charge can be just under three percent. In contrast, a credit bureau-free loan with an immediate commitment is at least almost five percent. In addition, the sums to be awarded are usually not as high here. But it’s always enough for a new car or a dream trip.
Try your luck privately
If you know that you have an entry with credit bureau and it is a little more difficult to find a loan, just ask your friends or acquaintances. There may be an obstacle here, but it is basically not a bad thing to want to finance a larger purchase with a loan. There may be someone among these people who earns well and does not need their money for themselves immediately.
The latter can invest the money at a profit with a private loan. But even if they are good friends or close relatives: it is always better to make a contract. Because you never know if there isn’t even a big argument or something like that. In the case of a contract, both sides cannot easily withdraw from the agreements. Even if you get on well today, nobody can say what will be in five years’ time when the loan expires.
A guarantee could be another solution
A credit bureau-free loan with an instant confirmation is not always easy to get. With a guarantor, the credit bureau entry is usually no longer a problem. However, this guarantor must meet certain conditions. He himself must not have an entry at credit bureau and he must have regular cash receipts. Because for the bank, this guarantor is a kind of security. If the actual customer can no longer pay, the guarantor steps in. A credit bureau-free loan with immediate approval is therefore possible, but there are also other solutions.