Taking out a loan without providing information on the person’s payment behavior and not having to look at proof of income would be the perfect financing option for consumers and borrowers, and at the same time one of the biggest debt traps. This constellation would result in an arbitrary granting of loans and enormous flooding of the market with money. There is no such loan in Germany. The option of an immediate loan without Credit Bureau and proof of income appears even less likely.
Nevertheless, countless loan brokers advertise the taking out of such an instant loan. A provider of an instant loan without Credit Bureau and proof of income works with banks from abroad. For example, an immediate loan without Credit Bureau and proof of income from Switzerland is also available for German borrowers. But getting a loan without Credit Bureau information does not mean that no evidence of creditworthiness has to be submitted to the Swiss credit institutions.
The Swiss loan
The so-called Swiss loan, as the name suggests, is only available in Switzerland and can be applied for up to a maximum of 4000 USD. This loan must be repaid within 40 months. As with Cream banks, the applicant must be able to provide evidence of attachable assets and certificates of regular income. If these documents are not available in addition to a Credit Bureau query that has not been carried out, there is also no possibility of borrowing from a Swiss bank. In addition, the potential borrower may not be in a trial period and may not be employed by any temporary employment agency.
For a person looking for a loan with a negative Credit Bureau entry and no permanent job, the prospects for success look very bleak, as it does for Cream funding banks. Obtaining an instant loan without Credit Bureau and proof of income is almost impossible. Swiss loans primarily target people with a regular income who require a sub-loan and who have already made use of such a loan in Germany. The Schweiter loan offers the best alternative due to the lack of Credit Bureau requests.
Caution is advised
Anyone who has speculated on an immediate loan without Credit Bureau and proof of income with prospects of success is usually in a financial bottleneck and urgently needs money. In addition, there are obligations from other loans and an overwhelming financial burden. Instead of taking out another loan, it is advisable to first reduce the existing debts in a form suitable for the debtor. Here the conversation with the bank should be sought.
The fact remains: the monthly installments for a loan must be repaid. An instant loan without Credit Bureau and proof of income does not help, just like a Swiss loan. The financial burden tends to increase. If you look at the loan terms for a Swiss loan, taking out a small loan from a Cream bank is usually cheaper. Therefore, caution is imperative so as not to slip into situations of total financial loss.