Credit without proof.

Everyone knows the problem that it is financially tight. Regardless of whether through a new purchase (car, computer, travel) or simply because a birthday is just around the corner. And no matter how well you earn, sooner or later you will need a loan. Especially if you do not have a regular income, you will want a loan without proof.

For whom?

No problem. At least that’s often promised on the Internet. But what’s up? The fact is that behind most offers there is a “Swiss loan”.  Loan without proof of income – for whom?

Regardless of whether in the daily newspaper or on the Internet – somewhere you have surely come across one of the lucrative offers. Loans from 1000 to 500,000 USD without proof of income.

The target group are, of course, those who no longer receive a loan from a regular bank. But be careful: the Swiss loan only goes up to 3,500 USD and even there you have to prove a working income.

However, there are quite a few loan sharks on the market that work without the permission of BaFin and grant loans “under the hand”. It is not uncommon to have to pay interest of 20 to 30 percent. Every month.

Credit without proof of creditworthiness – possible?

Credit without proof of creditworthiness - possible?

It is much easier to get a loan without proof of credit. The “Swiss loan” in particular is known in Germany. However, most European banks also grant loans to customers in Germany without proof of creditworthiness (due to the lack of international Credit Bureau information)

As a rule, the application for a loan from a foreign bank is made through a credit intermediary. For verification, most banks still have to be verified by PostIdent. You then receive the money in cash (by post) or as a transfer.

The credit without proof of creditworthiness is a serious, reputable, alternative to the classic bank loan. However, the banks require a fixed (permanent) employment contract. Even a 400 USD job is not enough. In addition, all income and expenses must be stated in the application.

Credit without proof – prerequisites

Credit without proof - prerequisites

The requirements for a loan without proof are different. Because banks want – mostly – to have different evidence. Proof of address, proof of salary or creditworthiness, proof of collateral or other evidence.

There are no major requirements for a loan without proof of creditworthiness. In principle, you only need a fixed income. The German credit rating is irrelevant.

A credit without proof of address, on the other hand, is more of a problem because every bank naturally wants to know where to reach the customer. Even if the loan sharks are left out, every bank would of course like to have an address where it can find the customer by post. This is particularly important for invoices and reminders.

If you want a loan without proof of income, then often only the house bank remains, or a checking account with overdraft facility. However, an overdraft facility without proof of income is usually only obtained if the bank upgrades trust over time. At the beginning of a business relationship, banks are therefore rather hesitant to use overdraft facilities. In addition, you have to pay higher interest on loans without proof of income, because the bank lacks a certain security.

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