Personal loans for private individuals are becoming increasingly popular in Germany. In the Anglo-Saxon area long aisle and Gäbe, come in this country more and more loan seekers on the taste. The advantages are apparent. The loan is not recorded in the Private credit. The interest rates can be defined and even borrowers with weak credit ratings find here lenders.
- Private loans for private individuals offer better options than traditional bank loans.
- On the platforms, supply and demand determine the conclusion of the contract.
- Surveillance is carried out by a trustee or a bank.
Personal loans for private individuals are now easily granted via the Internet. In German-speaking countries, there are now some large providers who work very seriously and reliably. Especially the digital age makes it so easy to invest both his money in personal loans, but also in return to obtain loans from private individuals – and completely anonymous. At best, it is a win-win-win situation: for the borrower, the investor and the credit platform. In this article, we will introduce you to the concept of “Private Loan”, show who benefits most, and explain the benefits, disadvantages and risks that exist for you as a borrower. Furthermore, we have the two largest providers trucredit and creditend scrutinized and show you who and why our favorite.
There are several stages of self-expression. Of course, the more extensive it is, the greater the chances of finding sponsors. Applicants with weak Private credit still have a good chance of receiving an instant loan from their private home.
The risk determines the interest rate. If an investor is willing to pay for an above-average return on a loan seeker with a poor credit rating, both win.
However, while creditend insists on a salary statement , the borrowers at trucredit are not forced to submit it . Of course, the likelihood of finding a financier under these circumstances is much lower than that of course. trucredit also expressly refers to this fact.
Starting at creditend is possible from a proven income of 1,000 euros per month, regardless of whether you are employed or self-employed. Thus, the platform also lends itself to the application for a loan for low-income earners .
Minimum credit standards still required
Even though people with poor credit ratings are more likely to lend, there are still some minimum requirements to be met . Even with a loan from private to private, investors are keen to receive their capital. Thus, a Private credit request is also carried out at trucredit or creditend. If there are hard negative features such as “bankruptcy”, “affidavit”, “credit in liquidation” or the like, then there is no chance of a loan here. In such a case it is generally very difficult to obtain a loan, if not impossible. Softer negative features, such as a mobile phone bill that was not paid months or years ago – which has meanwhile done itself – does not lead to credit rejection. However, such factors will push up the interest rate.
There must also be an income. For how else is the loan to be repaid? Where this comes from is subordinate: whether salary, salary, pension or rental income, etc. It is important that it is sufficient to cover all current expenses plus the planned loan installment.
Anyone who can not or does not want to earn an income has almost no chance. As a borrower, it is always advantageous to take the investor’s other perspective: Would I lend money to someone I do not know if he has an income or not?
On the other hand, this also allows people with a relatively low income to finance the loan privately . Even self-employed people can thus benefit from lending. Freelancers and the self-employed fall through the “grid” in many banks, that is: they do not receive a loan. Even people who start their business just now and need the necessary start-up capital, have with trucredit the ideal point of contact in terms of financing.
With the credit comparison of creditend you can find the best credit without proof of income.
But if you have a very good credit rating, you should first make a classic credit comparison . Often the conditions are even better than in a credit marketplace, as the competition among the banks is very large. Unless one does not want to get the loan entered in the Private credit file. Then again, trucredit is the better way.