Borrowers who have a negative Credit bureau will certainly have tried to take out a loan without Credit bureau, but this is not always successful. Many banks and savings banks make borrowing possible for people with a negative Credit bureau, but loans without Credit bureau are not granted without certain conditions being met. Borrowers who cannot meet the requirements of the credit institution must expect the loan request to be rejected even with a Credit bureau-free loan.
If a Credit bureau-free loan was rejected, there is no reason to despair, because even today borrowers can hope for an attractive alternative. Personal loans have established themselves as an alternative to loans without Credit bureau. In most cases, private loans are also granted today without Credit bureau information. Personal loans are now marketed securely and quickly via credit intermediaries on the Internet. Credit intermediaries mediate loans between a private borrower and lender. In addition to interest, commissions and fees for loan brokerage also apply to the brokerage, which is why personal loans are often somewhat more expensive in practice, but can still be seen as a serious alternative.
Credit intermediaries today enable simple contract processing between a private borrower and lender. Before the borrower can contact a potential lender, he has to register on the credit intermediary’s website. In addition to information about the person, the interested party must also provide information about their creditworthiness, although Credit bureau is often dispensed with here, but here, too, a regular high income is a basic prerequisite for borrowing. Based on the information, a ranking is created below, with which the borrower can present himself in the following when searching for a loan.
In practice, two different models have been established for lending. On the one hand, there is the possibility for the borrower to write out his project and loan request and to present the intended purpose more precisely. The borrower enables the lenders to bid on the loan platform, the lender that best suits individual requirements will then be awarded the contract by the borrower. Another procedure is based on the lender specifying a loan and the borrower applying if the loan offer is favorable.
Although the interest rate for private lending largely depends on the agreements between the borrower and the lender, here too borrowers can secure the best long-term offer by comparison. Due to the fact that the credit intermediaries specify a certain interest rate range and that the agency fees can also be variable, borrowers can also hope for savings potential here.