A Credit Bureau recipient can only get a loan if the recipient of social benefits can also provide a guarantor for the loan agreement. The guarantee is necessary because as an unemployed person with Credit Bureau there is only a very limited, if not none, creditworthiness of the borrower, which is why banks are very likely to reject the loan application.
However, the situation is a little different if the borrower can provide a guarantee, since this person significantly increases the creditworthiness of the actual borrower, even if the borrower himself has no income. Nevertheless, only micro and small loans are possible, although there is of course no guarantee. In the end, the individual assessment by the bank also decides here.
Loan take out from bank
In any case, the loan for Credit Bureau recipients should be taken out by a bank with a high acceptance rate in order to increase the chances of being accepted. In addition, a prior loan comparison is of course worthwhile, with which the cheapest provider for your own combination of loan amount and term can be found free of charge and within a few minutes.
The loan application itself can then also be carried out directly via the platform of the comparator, whereby the borrower does not decide any disadvantages. All important documents are then sent by post or e-mail, and identity checks are carried out using the post-identification procedure.
Consider private loans
In order to actually get a loan for Credit Bureau recipients, provided that the banks have already given a rejection or no guarantor is eligible, it is also worth trying to borrow from a private lender. These can often issue a loan without charging an interest charge, which is particularly lucrative for the Credit Bureau recipient, as the loan achieves the highest level of profitability.
Of course, borrowing is only possible here if there is a good relationship with friends and relatives, after all not every person is automatically willing to lend money to a Credit Bureau recipient. In addition, the lenders who are eligible for this must of course also have the necessary financial resources to lend themselves.
For the loan for Credit Bureau recipients, it may be helpful if the loan amount required is not taken up entirely by a lender, but rather the risk is distributed. In the case of somewhat higher sums in particular, the risk can be divided among several lenders, which is also advantageous for them, since they have to lend less money from their income and / or savings. A credit contract should also always be drawn up privately.