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After an initial loan refusal, consumers often assume that their case for a loan is hopeless. In many cases, however, the rejection of the loan application is based on the fact that the specific customer does not meet all the basic requirements of a bank for a borrower.

A low income does not stand in the way of borrowing if the customer chooses a long term and a correspondingly low credit rate. Many apparently hopeless loan application cases consist of existing negative features at Credit bureau.Thanks to special loan products from Agree banks, the prospects of lending are particularly good in this situation.

When lending is almost hopeless because of Credit bureau

When lending is almost hopeless because of Schufa

As an application for a loan in hopeless cases, most private borrowers consider a loan request as soon as they have forfeited a Credit bureau negative entry. However, there is no single soft negative feature that generally excludes borrowing from German financial institutions if the borrower now lives in an orderly manner again. If there are several soft negative entries or a hard negative feature in the Credit bureau information, Agree banks offer a loan in hopeless cases.

The federal banks are not Credit bureau contractual partners and do not receive any information from the German credit protection agency. They usually limit lending to $ 3,500 per customer and place very high demands on a borrower’s minimum wages.

When the budget bill leads to a negative credit decision

When the budget bill leads to a negative credit decision

Despite good credit, the loan can be a loan in hopeless cases if the bank refuses to choose the longest possible term based on the household bill. In today’s work environment, this is often the case, although the borrower’s own calculation is sufficient to repay the loan installments, since most banks themselves do not count regular additional earnings as income.

The easiest way to avoid imperfect credit is to apply for an instant loan without having to provide proof of earnings. In this case, earnings, including additional income, are legal, especially since these, like the main wage, are available for living and loan repayment. Of course, the borrower may not specify more than the actual total income.

Platforms for private loan brokerage offer further possibilities for a loan in hopeless cases, through which the conclusion of small loan amounts with long terms is possible. Whoever receives reform also receives a loan from the state in hopeless cases. The job center may grant an interest-free loan, which can be offset in small installments with subsequent transfer of payments, if the customer needs the money for essential purchases. This includes the replacement of a washing machine as well as the financing of an upcoming job.