Credit without Credit Checker query? Caution is advised here!

Credit without Credit Checker query? Caution is advised here!

Sometimes larger or unpredictable expenses require the inclusion of Good Finance. Most loan applications are made for house construction, renovation work, home furnishings or even for garden design. Good Finance is also applied for as part of a debt rescheduling, for the financing of cars or motorbikes, training, and further education, for holidays and travel, celebrations, for consumer electronics or to secure liquidity.

However, a loan application is not always approved and, among other things, rejected because of negative information from Credit Checker, which leads some consumers to search for a Credit Checker-free loan, especially on the Internet. In fact, they are mostly dubious offers that ultimately shamelessly exploit the financial plight of consumers and do not have one thing in mind – the award of a Good Finance.

Reasons for the search for Good Finances free of Credit Checker

Reasons for the search for Good Finances free of Credit Checker

For new contracts and Good Finance, a query is made to Credit Checker. The reason why consumers look for credit offers without Credit Checker information mostly on the Internet is that the loan application was rejected by the house bank or another credit institution. In this case, it is important to first ask the exact reasons in order to be able to take countermeasures and to look for sensible alternatives.

There are several reasons why a loan application is not approved by a bank. This includes, for example, an income that is too low, whereby the income that the applicant is free to use is decisive. Loan applications are also rejected because payment obligations already exist or regular expenses are too high.

This applies equally to recipients of wage replacement benefits such as E-Money, unemployment benefit I and recipients of parental or sickness benefit. The refusal of Good Finance in this specific case is based on the fact that wage replacement benefits as such cannot be attached.

A negative Credit Checker entry causes the loan to be rejected

A negative Credit Checker entry causes the loan to be rejected

The main reason for the rejection of a loan application is negative information from Credit Checker, which is the name of Credit Checker Holding AG with its registered office in Wiesbaden. Credit Checker is the protection association for general credit protection, which, as a private German credit bureau, protects its contractual partners against loan defaults, which primarily include credit institutions, but also trading companies and other service providers.

Tip: If the reason for rejecting the loan is negative information from Credit Checker, consumers should immediately seek self-information from Credit Checker in order to request the deletion of unauthorized negative entries.

A large amount of data is stored at Credit Checker, for example:

  • Personal data (e.g. name, address, Credit Checker base score)
  • bank accounts
  • credit
  • leases
  • Mobile phone contracts (except prepaid tariffs)
  • Good Finance and guarantees
  • defaults
  • Mail order accounts

The credit agency at Credit Checker also includes information from public directories and official announcements such as the taking of an affidavit, the application or opening of private insolvency proceedings or its rejection or discontinuation due to insufficient quantity.

The amount of income and the amount of the account balance are not saved.

Criteria for serious lending – creditworthiness and creditworthiness

Criteria for serious lending - creditworthiness and creditworthiness

The granting of a loan is subject to certain conditions, which are checked in advance by a reputable lender because he has a legitimate interest in excluding or at least minimizing loan defaults. The criteria for issuing a loan are therefore designed to ensure that the loan is repaid in accordance with the contractual terms.

The main focus is on the applicant’s creditworthiness. In addition to the age of majority, the applicant must have unlimited legal capacity, which entitles the applicant to conclude a legally effective loan agreement.

In addition to creditworthiness, creditworthiness, the so-called creditworthiness, is a criterion for granting a loan. The bank is legally required to check the borrower’s personal and factual creditworthiness, which is required to be checked in advance.

Some borrowers may be offended by the credit check, but conversely, it protects the consumer from possible financial overload and from over-indebtedness. It is at the discretion of the respective credit institution which criteria are used for the credit check.

Personal creditworthiness includes professional and professional qualifications. The personal creditworthiness also includes the number of credit cards, possible change of current account as well as the existence and number of unpaid payment obligations. Personal creditworthiness is also determined by using Credit Checker information.

Using the scoring procedure, a standardized procedure for checking creditworthiness in bulk business, the borrower is described on the basis of specific characteristics, which in turn are assigned to specific values. As a result, a score is defined that provides information about the creditworthiness of the borrower and a possible probability of default.

The factual creditworthiness is based on querying key financial data such as the amount of monthly income and the amount of expected monthly expenses. For employees, the assessment is based on an analysis of proof of wages and salaries and bank statements, while the self-employed and freelancers present, among other things, income tax assessments, balance sheets, income surplus calculations or business evaluations.

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