Instant loans have long been part of the normality of lending business on the Internet. But is a private credit checker-free instant loan to be measured with the same standards? – Or is everything just hot advertising air? The article provides details on instant credit without private credit checker.
private credit checker free instant loan offers
Instant loans were once one of the most innovative loan offerings in the financial industry. Much of the success of direct banks can be attributed to instant credit. Since then, the idea of automating the credit check process as much as possible has saved prospective customers a lot of time and effort when applying for an online loan. Today there is almost no online credit institution that does not submit an online loan application and simultaneously carries out the preliminary credit check. Such a recipe for success should also be worthwhile for private credit checker-free loan offers.
A private credit checker-free instant loan is easy to find, at least in advertising. A first difference to ordinary instant credit is noticeable when it comes to the application. The link does not lead to the side of a foreign bank. An instant loan without private credit checker can only be applied for through a credit intermediary. Which bank actually hides behind the loan offer is at least not apparent at first glance.
As convenient as an ordinary instant loan?
The hallmark of an instant loan is the simple application process, in which only the bare essentials have to be submitted. In the case of a small loan, it is usually sufficient to submit the loan application using the post-ID procedure and to enclose a few supporting documents, mostly as a copy. Depending on how far it is to the nearest post office, a workload of about 30 minutes. About one working day later, the application is submitted to the clerk. It often takes less than a week for the money to reach the account.
If you apply for a private credit checker-free instant loan, it is unfortunately not so quick. The online application is completed quickly, but not every credit broker offers the instant check. A lack of an immediate check is not a lack of interest, but a sign that the intermediary is playing with open cards. It is impossible for him to realistically examine and approve a loan application over which he has no decision.
A meaningful preliminary credit check – if the check result is as realistic as possible – can only be carried out by the final lender. The next difference to the ordinary instant loan is revealed when the loan application is made to the foreign credit bank. As far as is known, all reputable credit brokers “without private credit checker” only refer to a single foreign bank. That is SIGMA Kreditbank AG from Liechtenstein.
Proof of creditworthiness without private credit checker
A private credit checker-free loan is not a loan without proof of creditworthiness. A fairly extensive credit report is even required for this exceptional loan. In the case of a normal instant loan, the applicant’s creditworthiness is checked using the private credit checker and the score. The process has been running electronically for a long time. The necessary information is available to the clerk on the screen within a few seconds. It is not that quick without private credit checker.
Instead of the private credit checker, the public debt register is queried. This is not a central database that the loan officer could easily access. The debtor registers are only kept in the district of the district where the prospect is registered. In addition, neither electronic access nor telephone information is possible.
The local courts usually prescribe the written form for each request. For many dishes, this can be done by fax. Nevertheless, it may still be necessary to use an ordinary letter. In this case, the postal service alone takes up to 12 days. So it happens that a private credit checker-free instant loan is sometimes paid out after a week, but sometimes only after a month.
Evidence and supporting documents for instant loans
Only those interested in credit who have been employed by the same employer for at least 12 months are eligible for a loan approval. Proof can be provided via an old pay slip, for example the December statement from the previous year. Alternatively, the income tax card of the previous year is also possible.
In addition, current income must exceed a certain minimum amount. For example, a single person must prove at least USD 1,130 net working income in order to qualify for USD 3,500 credit. Proof is provided by the last two salary slips and the associated bank statements. In addition, a private credit checker-free instant loan can only be secured through a transfer of income. This declaration of assignment is only accepted in a certified form, such as a notary or civil office.