A secured Credit Bureau free loan from abroad.
Can a Credit Bureau-free loan from abroad be the solution to the credit crunch or is everything just a myth? Advertising promises a way out of almost every financial need, but what can really be kept? The article provides all the important information on foreign loans.
Credit Bureaufree credit from abroad – advertising claims
Anyone looking for a Credit Bureau-free loan opportunity will be showered with advertising. The advertising usually comes from credit brokerage companies. A loan without Credit Bureau is offered for all situations. A Credit Bureau-free loan from abroad seems to be a mass commodity. If you are looking for a little longer, you will come across a study by Credit Bureau that has dealt with Credit Bureau-free credit solutions. The study clearly comes to the conclusion that financing without Credit Bureau is more a myth than a real loan offer. Only about two percent of the test subjects actually received a loan.
The test result can be very good if the test subjects were selected according to the requirements of the advertising. The advertising for Credit Bureau-free credit solutions is practically without exception in the hands of credit brokerage companies. In order to draw attention to yourself or sometimes even against an unfair background, the advertising is completely covered.
Which foreign banks grant Credit Bureau-free loans?
Before the financial crisis, various credit institutions were active as providers of Credit Bureau-free credit options. All of these credit banks fell victim to either the USD crisis or BaFin control (banking supervision). As far as is known, a legal Credit Bureau-free loan from abroad now only comes from a single bank.
The impression of mass-produced goods created in advertising is thus refuted in any case. Against this background, it is rather amusing to see the websites that choose a test winner in credit offers without Credit Bureau. A look at the loan terms, which are not listed on the credit bank’s website but were asked, exposes the advertising.
A Credit Bureau-free loan from abroad is not given to people without work or without creditworthiness. Anyone who is entered in the public debt register also has no credit opportunities. This means that advertising for a Credit Bureau-free loan despite EV or with a warrant is a clear advertising exaggeration. Even a loan without Credit Bureau for the self-employed, freelancers with guarantors or property security cannot be realized in this way.
A credit check is carried out exclusively on the basis of proof of income from employment and the public debt register. The credit provider only excludes cooperation with Credit Bureau.
Loan amounts and conditions for the foreign loan
A Credit Bureau-free loan from abroad is only granted with two loan amounts. A loan without Credit Bureau of USD 3,500 or USD 5,000 is possible. If the loan is applied for directly from the credit bank, the annual percentage rate for a credit of USD 3,500 is 11.62 percent. At 5,000 USD, 11.61 percent effective annual interest is payable. The interest rate includes all borrowing costs except third-party fees. Foreign fees can arise through postable payment, certification or through agency fees.
It is advisable to call Liechtenstein briefly before applying for a loan and to inquire about the individual income requirements. For a single person without maintenance obligations, a net working income of USD 1,130 is required for a credit of USD 3,500. For 5,000 USD credit without Credit Bureau, the net income must already reach at least 1,600 USD. If you are married or have children, you can expect a significantly higher proof of income. For a two-person household, the net income for a 3,500 USD loan is already around 1,560 USD.
Which documents have to be submitted?
The loan is tied to an employment relationship that has existed for at least 12 months. The December statement of the previous year or the income tax card can be used to prove the length of employment. The last two payslips must also be submitted. The receipt of salary can be proven on the associated bank statements. Electronic bank statements are only accepted with the original stamp of the bank. A copy of the identity card must also be submitted. (Both sides).
A Credit Bureau-free international loan is only secured through the assignment of salary. The lender takes it very carefully. The signature for the assignment must be certified. A notary could do this, but it is quite expensive. It is cheaper to have the certification carried out in the citizens’ office. Depending on where you live, the certification then costs around ten USD. Those who invest the time and work that meet the requirements are likely to get the loan. A Credit Bureau-free loan from abroad can be in the account after about two weeks at the earliest.