Loan without Credit Bureau and creditworthiness for the unemployed

It is far from easy to get a loan without Credit Bureau and creditworthiness for the unemployed. People with poor creditworthiness who can neither prove a fixed income nor a secure job do not meet the requirements to receive a serious installment or consumer loan from a German bank.

For this reason, a loan without Credit Bureau and creditworthiness for the unemployed is almost always rejected. The bank can only make certain exceptions if a guarantor or a solvent co-applicant is willing to pay the costs and assume the monthly loan installments when in doubt. Otherwise, the prospect only has a chance if it turns to a foreign bank, a private lender or a credit broker.

Foreign banks

Foreign banks

In contrast to German banks, most foreign lenders do not provide Credit Bureau information. However, this does not mean that they grant a loan without Credit Bureau and creditworthiness. If the Credit Bureau information is not available, a steady and regular income is all the more important. Employees or civil servants who have recently accumulated negative Credit Bureau entries have a good chance of getting a loan from abroad without Credit Bureau and creditworthiness. It looks rather bad for the unemployed.

Private credit intermediaries

Private credit intermediaries

Many private credit intermediaries have been active in this market for years and can certainly show a certain seriousness. However, this is not always the case. For this reason, it is advisable to exercise special caution when looking for a loan with no Credit Bureau and creditworthiness for the unemployed and to pay particular attention to the costs or fees charged by the private credit broker.

Under no circumstances should they be paid in advance, but only after successful loan brokerage. Here too, however, the rule applies that they should not be calculated separately, but should be included in the APR.

Personal loans

Personal loans

Personal loans are often the only way to get a serious credit without unemployment and credit rating for the unemployed. Such a loan can come not only from a person belonging to a family of relatives, acquaintances or friends, but also from a stranger.

If you register on an internet portal that brings together private lenders and private borrowers, you may have a very good chance of getting a loan without a credit rating and credit rating for the unemployed. Any unemployed person looking for a loan in this way should bear in mind that there is no guarantee and that the credit intermediation portal is not itself a lender. It only brings together individuals. The credit terms and the award criteria must be regulated individually by both contracting parties.

Prohibited banking: how to obtain a consumer credit?

Difficult financial situations are completely unforeseen in life. In order to get out of bad times, consumer credit can help more than one. However, there are situations which do not allow certain people to access this alternative from a bank or from a particular creditor. Being prohibited from banking or having committed a criminal act constitute grounds for refusing to grant a loan. According to the latest polls, the number of credit defaulters has increased significantly between 2015 and 2016.

Who is prohibited from banking in Belgium?

Who is prohibited from banking in Belgium?

A person is said to be “banking prohibited” when they no longer have any right to borrow money from a bank. His name is already on a kind of black list of the Capital lender. When the person on file at the Bank applies for a credit from another creditor, the latter has the procedure of consulting this file. Thus, logically, the chance of granting a loan to a person considered to be a bad payer is then, strictly zero. There are many factors and reasons that can create a banking ban: unpaid monthly payments, a check issued without funds or other delicate and personal situations. Only those concerned can know how to regularize their situation to remove this bar.

However, there are still solutions for banking bans that could help them get more cash and get out of their precarious financial situation. In this way, the over-indebted or the bank account can recover his rights and can make other requests for credits, while remaining vigilant after having lessons…

What are the solutions for banking bans?

What are the solutions for banking bans?

Finding yourself in a precarious situation which is over-indebtedness, there is nothing more serious. In Belgium, solutions still exist to circumvent the lock. Fortunately, various solutions are still possible with many financial organizations. Among these alternatives is social credit or supported social credit. Concretely, it is a type of consumer credit intended to save banking bans and people in precarious financial situations. The sum obtained via this loan must be used for projects to improve well-being: what is necessary and useful and no more! With this amount, the person can manage their expenses and save money that will allow them to recover their debts.

Credit consolidation is also a popular solution for those who want to break the deadlock. By consolidating all consumer loans outstanding in one single credit, the borrower can see reduce their monthly payments. However, it is advisable in this case to spread out the total duration of reimbursement in order to ensure this reduction in monthly payments. With a single monthly payment to be paid every month and a single credit to manage, it goes without saying that the person concerned will find more time and more serenity to put to the service of his new resources.

In the event of difficult to manage financial problems, the sound advice of a professional broker or financial expert can always help. Do not hesitate to consult the opinion of a broker specialized in consumer credit near you or online to find the solution adapted to your situation as effectively as possible.

Warning ! Taking out a new loan means you have a new debt to pay. Make a credit redemption simulation or a consumer loan rate calculation online before you decide!

Works loan: Comparison of +15 rates in Belgium

Have you just bought a house that requires major improvements or has it been a long time since you have to do major work in your home? Want to do a complete overhaul of your garden or install an alarm. Do you want to make your house less energy-consuming? Whatever your desire or need for work or renovation, it is often useful and necessary to make a credit to take action to spread the payments. So no need to use your savings to increase the value of your property through work.

Across Lender has analyzed and presents you the best offers on the market in the table above but also all the useful information to understand the ins and outs in order to make the choice that best suits you knowingly.

What type of loan is the construction credit – renovation? How much can we borrow?

What type of loan is the construction credit - renovation? How much can we borrow?

The work loan is an installment loan intended for carrying out renovation, alteration or improvement work in your home. It is possible to borrow sums ranging from a few thousand to several tens of thousands of dollars.

What types of work can you finance? Materials, subcontracting, ….

What types of work can you finance? Materials, subcontracting, ....

The renovation loan can be used to purchase materials for work you do yourself, DIY or to pay professional providers. Here is a non-exhaustive list of what you can do with this installment loan:

  • replace your chassis,
  • renovate the plumbing or electrical installation,
  • build a swimming pool,
  • build or renovate a terrace or veranda,
  • change your kitchen or bathroom,
  • install protection systems such as an alarm, a secure door,

Your ecological work is rewarded … we speak then of green loan

Your ecological work is rewarded ... we speak then of green loan

Some organizations offer a “green loan”. This translates into an even more attractive rate provided that the improvements made to your home save energy. Each organization has a list of projects that can benefit from a green loan. Here are a few examples:

  • a new boiler or major maintenance of your current boiler,
  • installation of photovoltaic system,
  • insulation work,
  • installation of a heat pump,
  • placement of double glazing or high efficiency glazing,

If you wish, you can also finance an energy audit for your home in order to know how to act effectively.

Choosing between a mortgage loan or a construction loan: implications

Choosing between a mortgage loan or a construction loan: implications

Both types of loans can be used to finance works. How to choose and what are the differences?

The mortgage allows you to benefit from a more attractive rate but it is subject to certain additional conditions:

  • appear before a notary,
  • be covered by a mortgage that will give the lending organization the right to sell your home in the event of default,
  • obligation to take out outstanding balance insurance.

The mortgage loan is more attractive from a tax point of view as long as you do not already reach the authorized ceilings with the repayment of the loan of your home.

The choice of mortgage will preferably be made if you have to borrow large sums over longer periods. Under these conditions, the advantage of a better rate could take precedence over the additional costs it involves (notary, insurance, mortgage registration, …).

A home improvement loan is much more flexible. There are no notary fees or mortgage registration fees, and outstanding balance insurance is not mandatory. However, the rates that you can negotiate will be significantly higher and you will not get any tax benefit. The duration of this type of installment loan is generally maximum 10 years and depends on the amount borrowed.

You will generally choose the work loan solution for smaller sums that you will repay more quickly.

What to do if you do not own your home?

The renovation loan is reserved for a home that you own. If you want to carry out small development work in the apartment or house that you rent, you can compare the simulations of the development and decoration loan.