If you have trouble getting a loan because of a bad credit record entry, not all is lost. What you can do now – and what you should better avoid.
How does a negative credit record entry come about?
The protection association for general credit protection, credit record for short, stores data about their payment behavior of almost all adults in Germany. From this, she calculates a forecast whether a debtor will continue to meet his payment obligations in the future. This probability is expressed in a so-called score, a number between 0 and 100. The higher this value, the more creditworthy you are. A low score arises, for example, if a consumer has not paid bills, has paid installments too late or no longer at all.
How can you check your credit record value?
Do you suspect that your loan application was rejected because of an unjustifiably bad credit record entry? Then request your score directly from credit record. This is possible once a year free of charge – using the form “Data overview according to $ 34 Federal Data Protection Act” . Fill out the form and send it together with a copy of your identity card to the address provided. If you receive the documents from credit record, check the information. Are there any loans that you have already paid back? Did you request loans but didn’t use them? Provide any errors with copies of your documents and ask credit record to correct them.
Those who are looking for a credit record-free loan often come across dubious credit intermediaries. You do not grant the loan yourself, but pass the request on to banks. Some brokers follow a particularly nasty trick: They ask those interested to have contract documents sent to them against cash on delivery. Then the money would be approved. But instead of a loan, the customer only gets worthless papers and a hefty bill. Some intermediaries also want to sell unnecessary life or liability insurance. Here it says: stay away.
Help with debt problems
Contact debt counseling if you are no longer able to pay credit installments. Because once existing loans are replaced with new ones, the debt trap is not far away. The debtor can hardly keep up with the payments and also has to pay significantly higher interest rates than with reputable savings banks and banks.
So that there are no bottlenecks in the first place: check your consumption behavior and uncover savings opportunities. We offer you a free household book through our “Money and Household” advisory service . You can also use this practical help online.