Loans without checking credit score
There is talk of a loan without credit score if lenders do not ask for the credit score of an applicant. In some countries, banks are legally obliged to do such a query before making a credit decision, which is why loans without credit in some countries they are usually granted by private individuals in the form of private emergency loans.
In addition to the often significantly poorer conditions, such as very high interest rates, there are unfortunately also many dubious providers of such loans without credit score query. You can recognize this by the following features, for example:
Additional costs for advice and conclusion: When granting loans without credit score, an intermediary is usually used. If this requires a commission for the mediation or the reimbursement of expenses for the mediation, this is a sure sign of the dubiousness.
Additional insurance: Stay away from providers who want to sell you additional insurance or home loan savings contracts to improve your creditworthiness. Only residual debt insurance can be useful in some cases.
Financial restructuring and debt advice: dubious providers often promise debt settlement and advice on all aspects of your debts – however, these services are usually offered without the appropriate specialist knowledge and only in connection with high additional costs. Check mercurynews.
Recognize reputable providers of loans
Conversely, this means that reputable providers of credit without a credit check are primarily recognizable by the fact that they are not trying to take additional money from you anywhere. Neither your inquiry nor the preparation of an offer may incur costs. Before you sign anything, be sure to read the fine print in every contract and find out online what the experience of others is with the respective provider of a loan. A personal loan may also be the better option for a loan without a credit check.