Anyone who thinks about the loan despite exemption from residual debt should bring a lot of time with them. The entry will not be deleted from the credit bureau until three years after the residual debt relief has been granted. Until then, it is a knock-out reason for any lending. The contribution should stimulate thought and show possible solutions.
Credit despite debt relief – nobody wants to grant risk loans.
The state has at least taken one correct turn in the face of the currency crisis. Credit risks that banks will no longer be allowed to take indefinitely in future. There used to be a strong market distortion. While banks from the country refused loans, the foreign loans were still freely available. The result was initially the over-indebtedness of many households. Then the banks were increasingly drawn into bad credit.
Those who do not want such excesses will welcome the political steps to contain the risks. In the Basel 1-3 agreements, which were negotiated by the finance ministers, risks for financing should be excluded. As a result of this development, the loan, despite the fact that there is no remaining debt, is not available from any reputable bank in state. The debt relief means that the debtor has not paid all of his debts in the past. Creditors have stuck to their legitimate claims. Even worse, the exemption from residual debt means that they are deprived of any means of being able to register their justified claims in the future. So the consequence of the loan rejection is understandable.
Credit options – credit cards.
The possibilities of getting a loan despite the fact that you are free of residual debt are particularly given via credit cards. Some providers give “real” credit cards, but they hardly check. This way of financing is only advisable in extreme emergencies. The downside of these credit cards is the calculated interest of 15 percent and more. They are even partially above the overdraft interest. Having such a card in your drawer as a reserve, however, is a sensible measure. The cards cost neither application fees nor an annual fee.
Loans from private.
Another, albeit much more difficult, way is to convince private investors that they want a loan. The various large personal loan platforms make it easy to get in touch. The loan request can be presented convincingly. But the credit certificate, the rating certificate and the ID check are almost always the prerequisite for the willingness to invest. The great demand for private loans also tightens the conditions here. Every investor is very critical of capital security today. Anyone who has disappointed in the past is not necessarily welcome here either.
A higher interest rate offer can help to make the loan possible in this way despite the exemption from residual debt. Instead of the usual interest rates of well below 10 percent, something more should be offered. As an alternative, security could also provide trust. Compared to a credit card, this loan is still the cheapest alternative, despite the fact that it is free of residual debt.