Unfortunately, not everyone is granted a loan without problems. A lot of trouble can be inevitable, although it could actually be avoided. Only the right self-assessment leads, without detours, to the right loan. It is easy for people with a good credit rating, and loans are almost carried into their home. Nevertheless, no one has to be a civil servant so that the desired loan can be fulfilled.

Loan without problems – situation analysis

Loan without problems - situation analysis

The most important cornerstone of any lending and therefore for a loan without problems is the credit rating. It reflects the income and expenditure situation. The profession and payment history in the past are also included in the assessment. A good credit rating enables particularly favorable credit terms.

Interest rates fall, and higher loan amounts and long repayment periods are possible. The best example of the impact of good creditworthiness are the special loan conditions for the public sector. The lower end of the scale can be seen in pensioner loans.

When it comes to credit rating, the loan officer is not just on his own. Credit bureau provides him with valuable information about the applicant’s payment behavior. In addition, the credit risk can be narrowed down more precisely using the Credit bureau score. The information used in the score was not created individually, but rather by evaluating a comparison group analysis. When in doubt, a look at the bank statements is the decisive factor for the credit decision.

Possibilities to “polish up” the creditworthiness

Possibilities to "polish up" the creditworthiness

On your own initiative, only a glance at the account statements can ensure the clerk’s goodwill. The examination period is strictly limited. Only the last three months are checked retrospectively. If possible, the account should be kept in the credit, even though there is a overdraft facility available. In addition, neither payments to collection companies nor chargebacks can be found. A current account managed in this way proves that the borrower gets by with his money.

Larger gaps in creditworthiness can only be closed by property collateral or outside help. Conceivable property security would be the vehicle letter of the paid vehicle or a savings contract. Help from a guarantor or co-applicant to improve credit opportunities is less complicated.

Loan amount and skillful choice of provider

Loan amount and skillful choice of provider

Not being creditworthy at the house bank doesn’t mean having to bury the hope of getting a loan. Another provider can provide credit without problems. The loan amount also plays an important role. Small loans, up to an amount of around 5,000 USD, are checked using the simplified procedure. Without an extensive credit check, the chances of approval are significantly better than at the house bank.

Despite reduced creditworthiness, for example a low income, the commercial loan is usually a loan without problems. A clean Credit bureau and proof of income are usually sufficient for a mail order company loan. Other credit options that can be used in the case of poor creditworthiness are Swiss credit and private credit.