Credit solutions despite of existing loans.
The desire for credit despite existing loans sounds more complicated than it is for the majority of all citizens. If you have problems with lending, it does not automatically mean that no additional loan is generally granted.
We provide authentic information to help you get the loan that suits you. Existing loans do not have to become a credit crunch for you.
Credit despite existing loans – regular lending
Regular credit despite existing loans is commonplace. If lending were a problem, everyone who buys a contract cell phone and uses overdraft facilities would have to be on the “black list”. Of course this is not the case. Credit institutions grant credit, whether in one sum or in different loans, until the personal credit line is reached. Each credit institution evaluates the real creditworthiness of each individual using its own key.
The credit model chosen is also a decisive factor. Different limits apply to the overdraft facility than to the installment loan or mortgage loan. The Credit bureau Score provides a guideline for how high your own credit rating should be valued. The bank’s software recognizes the credit default risk via the score, regardless of the scoring provider. Across Europe, only loans classified as safe can be granted, the rough direction, “what is safe” shows the score.
In addition, every credit institution checks whether the borrower can actually afford his loan. The budget surplus calculation, created automatically with every loan application, shows the scope for additional monthly payments. Individual payment obligations do not only include ongoing living expenses and rent. Depending on the payment obligation, whether a cell phone contract, savings contract, pension scheme or current loan, is taken into account.
Regular credit problems – small occasion big impact
The credit discussion with the house bank can be very unsatisfactory if an installment loan is applied for even though an installment loan is already in progress with the lender. Regardless of how far the old loan has already been paid off, the clerk refuses to request the loan. The background to the denial of credit in this case is less the lack of creditworthiness than an organizational problem.
Many credit institutions do not allow loans despite installment loans with installment loans. Each borrower can only avail one overdraft facility, an installment loan, a credit facility and a mortgage loan. The whole thing is regulated in the credit terms of the bank or savings bank. As an alternative, the loan officer can have the credit increase available at some banks or “only” offer the overdraft facility.
People with average creditworthiness can easily solve the credit crunch. You switch providers for the additional loan. The low-interest competitor for uncomplicated installment loan would be easy to find despite an existing installment loan via a free loan comparison. Nevertheless, the cheapest loan offer should not necessarily be chosen. – Because, despite existing loans, any credit is only granted if proof of creditworthiness is successful.
The existing loan obligations naturally have an overall negative impact on creditworthiness. Low-interest loans, however, require a very good credit rating to be approved. A little more scope for “forbearance” is offered by credit-related interest offers with a slightly higher starting interest rate.
Problems and solutions – loan approval
Prudence is required if there are recognizable difficulties with lending. Starting a legally binding credit attempt after the next worsens Credit bureau. Credit bureau records and saves every loan refusal, which serves as a “warning” for subsequent inquiries from potential lenders. The way out is the non-binding advance credit inquiry. It is not visibly stored in the Credit bureau for other lenders.
As a rule, credit institutions explain why they do not want to grant the loan despite existing loans. If the bank indicates a lack of ability to repay (household bill), action can be taken. Of course, it is not possible to cut the rent. But a pre-paid mobile phone also does it, regular expenses for the mobile operator are eliminated. In this way, the current expenses could be reduced bit by bit.
As soon as there is sufficient scope for payment in installments, the approval can work. If there is a “general” lack of creditworthiness for the loan, a solvent co-applicant or guarantor could enforce the loan despite existing loans. Nevertheless, the “shot in front of the bow” was meant seriously. If the bank refuses the loan without a co-owner, it considers the repayment to be at risk from professional experience.
Fast credit despite real credit problems – special loans
People who have problems with creditworthiness restrictions with uncomplicated lending are more likely to face a liquidity shortage. A somewhat larger bill, which would have to be spread over two months, overwhelms the household budget. A mini-loan with a short term could solve the problem. Great Bank from Berlin enables lending with proof of income of just 500 USD.
First-time applicants are likely to apply for between 100 USD and a maximum of 500 USD of microcredit with a 30-day term. To compensate for a higher bill, this loan is usually sufficient despite existing loans, with payment in 24 hours. A small drop of bitterness are the loan costs with the quick mini loan. The quick loan help costs 13.90 percent APR.
In spite of existing loans from private donors, a loan would be more affordable and realistic despite limited creditworthiness. The portals Best Lender and Good Finance for investors and borrowers create the reputable environment for lending from private to private. Many things are easier from person to person. It has been proven that private credit can still be approved even if banks have long refused. A credit attempt costs nothing.