Anyone who longs for a loan after the debt relief is often and quickly brought down to earth. Despite the difficult period of personal bankruptcy and a good income, many banks refuse to apply for a loan without giving any plausible reasons. A rejection is almost guaranteed after a debt relief. How it can still work with a loan is explained in the following amount.
The problem is the Credit Bureau
Individuals who are in a personal bankruptcy dream of reaching the day when all the debts have been paid. Pay for your purchases again with your chest wide open or fulfill a well-deserved vacation by taking out a loan, these dreams are necessary to successfully survive the nerve-racking time of personal bankruptcy. However, it will not be easy to get a loan after the debt relief, because the conventional banks reject the loan application due to the negative Credit Bureau.
The Credit Bureau entry of course shows the bankruptcy procedure and also the exemption from residual debt. The exemption from debts shows that creditors have lost their money to the person and take banks (as you would expect otherwise) from such customers rather. The negative Credit Bureau entry therefore has a very serious impact on the granting of credit or on the creditworthiness of the applicant. The entry at Credit Bureau will remain in existence for up to three years and will be deleted at the request of the person concerned.
Personal bankruptcy credit
After private bankruptcy, most of them managed to find their way back to normal life and also do a regular job. Due to the regular income, these people would actually be creditworthy in principle – if it weren’t for the negative entry at Credit Bureau. One way to get the urgently needed loan would be if a trustworthy person (such as a close family member) takes care of this loan application or takes out the loan and passes the amount on to the debtor. Of course, this step requires a lot of trust.
The help of a credit broker
If you can’t find a trusted person, you should look for a credit broker. If necessary, he can find a loan without Credit Bureau for the borrower. Credit Bureau is not asked for such loans and most of these credit providers are located abroad. A disadvantage of this procedure is, of course, that there are costs and fees for the placement.
The personal loan is also to be considered
A personal loan is a very effective and inexpensive way to get a loan despite a negative Credit Bureau or debt relief. There are countless platforms today where private individuals can convey or make available their savings in the form of a loan. Numerous borrowers are already using these platforms to get a loan despite a negative Credit Bureau.
Here the money is lent at extremely fair interest rates and the strict regulations and guidelines of the banks do not apply to personal loans. It is therefore very realistic that a loan after a debt relief via private individuals offers a very good opportunity.