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Unfortunately, life always takes no account of your financial constraints. For example, cars or refrigerators break down, whether you have a high income or not. If you have little or no equity, you need a loan. It becomes particularly critical if you enable a loan despite credit bureau and bad credit rating. Excluded – unlike you can often read elsewhere – but not that you still get a loan. However, you should not expect miraculous sums.
Banks would like to give you a loan in principle. After all, this is the business of the money houses. However, the financial institutions have to do two things: 1. The risk of you having problems with paying your bank back to the bank should be as small as possible. 2. You should not only be able to repay the debt, but also pay interest. Those are the profit margins of the banks.
If you have problems with the credit bureau, this means that you have not met one or more payment obligations within the past three years. While the bank does not know what exactly it was, it nonetheless raises doubts that you will be able to easily repay the loan.
This is especially true if you also do not have a strong credit rating, but your loan repayment ability is weak. This either means that you are earning little or that you already have very high monthly expenses – again raising doubts that you can get along with your budget.
First you should solve the credit bureau problems. First, make sure that your negative entries are not done long ago because you paid the outstanding bills. In such case, you can request the cancellation. Then you should be able to get at least small loans.
If the entries are not completed or if credit bureau refuses to cancel them, you must borrow the money from an agency that does not cooperate with the protection association for general credit protection. Foreign banks and private investors are eligible. Because of your credit rating problems, you should not again expect that you will receive high loan amounts. Four-digit amounts are usually the maximum.
If you need high loan amounts, your credit standing in the way. You have to improve those. Traditionally you have two options: First, ask a second person with a strong credit rating to take the loan with you. On the other hand, you pay off existing liabilities that burden your monthly budget. If a car is not absolutely necessary, for example, it can be sold to pay off the proceeds. Due to the omitted car, the budget is also significantly relieved.