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.
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
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 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.