Civil servant loans despite negative Credit Bureau entries
Civil servants are the favorite clientele of the banks. Unlike other occupational groups, a loss of employment is almost impossible. As a borrower, they stand for the greatest possible security. This circumstance is rewarded by the credit institutions through interest rebates as part of so-called civil servants’ credits. Nevertheless, it can never be ruled out that even a public servant would want a civil service loan without Credit Bureau.
Official loan without Credit Bureau – is there any?
Civil service loans are granted by German banks specifically for civil servants. A loan without Credit Bureau comes mostly from Switzerland or Liechtenstein. In both countries an institution like the Credit Bureau is unknown. Against this background, neither a query of Credit Bureau in Germany nor an entry of the loan there. Non-Credit Bureau loans are not target group-specific or product-specific loans, such as a car loan.
A loan without Credit Bureau is available for everyone and is given without earmarking. However, there are some conditions for a loan without Credit Bureau. This includes the age of majority of the applicant, a circumstance that is in any case given by an official. Furthermore, the applicant must prove his residence in Germany and maintain a checking account with a German bank. As a security is primarily a salary assignment in question.
If one considers the conditions, it becomes clear that a “civil service loan” without Credit Bureau can be presented without problems. The lenders of course also consider the creditworthiness of the applicant. And this is at least from the framework seen from an official optimal. Whether the official, for whatever reason, has a negative Credit Bureau entry, the bank remains hidden in a civil service loan without Credit Bureau.
When does an official loan make sense without Credit Bureau?
A weak credit rating is only rarely the reason why an official is looking for a loan without Credit Bureau. It may also give one or the other officials, who may have fallen behind with installment payments or simply forgot to pay a mobile phone bill. Both inevitably lead to a Credit Bureau entry.
An official loan without Credit Bureau is more likely to be used in other cases. For example, if mortgage lending is planned and there is a short-term need for a small loan, a loan without Credit Bureau makes sense. The small loan could have a negative effect on the creditworthiness and thus on the interest in connection with the mortgage lending. The detour via Switzerland prevents this.
Where is there a loan without Credit Bureau for civil servants?
Loans without Credit Bureau are not awarded directly by the financiers, but come about with the help of intermediaries. Here one must clearly distinguish between the reputable and the dubious providers. Reputable agents have been in business for many years and have a network to solve difficult cases. As a matter of principle, you will not charge the customer any fees. The black sheep in the industry often have no interest in lending, but earn their money in other ways.
- You are already charging for the loan request.
- They make the lending dependent on the conclusion of other products, such as insurance or home savings.
If one of these two points grips, it means immediately: Stay away. The credit comparison websites on the Internet also offer the award of a loan without Credit Bureau for civil servants. These intermediaries are consistently classified as reputable.