Credit Bureau has an extensive database and is contacted by German credit institutions before each loan is granted. These not only find out whether there are negative entries, but also get an overview of existing loan contracts and a score of the loan seeker.
If dealers ask about a desired partial payment, the Credit Bureau information does not contain any references to current obligations. As an alternative to German donors, a loan can be taken out in Switzerland without Credit Bureau. This does not only make sense in the case of a negative Credit Bureau entry, but also in the case of further financing planned in a timely manner.
Existing loans reduce the rating of a credit applicant’s creditworthiness, which is particularly true if a contract is concluded within the past six months. The Swiss loan is paid out in dollars, so there is no exchange rate risk.
Apply for the loan without Credit Bureau directly from the Swiss bank
For loan amounts of up to 3500 dollars – at a few financial institutions up to 5000 dollars – consumers apply for a loan in Switzerland without Credit Bureau directly from a federal bank. This requires a higher income from dependent employment than most German institutes and does not count all additional income including child benefit as such. Freelancers and the self-employed can take out a loan from a few federal credit institutions if their company has been in existence for a few years and is generating a secure profit.
The maximum amount for direct applications for a loan in Switzerland without Credit Bureau cannot be avoided by taking out several loans from different banks at the same time, since the bank reports its lending to the Swiss credit protection company. Data from contracts concluded in Germany are of course not known to them, nor do German financial institutions receive any information there.
Apply for the loan without Credit Bureau through an intermediary
Sums greater than 3500 to 5000 dollars are possible if customers apply for their loan in Switzerland without Credit Bureau through an intermediary. This path also makes sense for freelancers and the self-employed, since they are welcome through a credit broker at more banks than with a direct loan application and can therefore receive a cheap loan. Reputable credit intermediaries do not charge upfront costs, but only an appropriate commission.