The credit after the debt relief is not as straightforward to get, as it can be assumed. This depends on the one hand with the system of debt relief and on the other with the entry. The name Restschuldbefreiung is not happy. The debts are still there. The creditors are deprived of every opportunity to collect them. So the bailiff can not stand at the door, but the debts are still there.
They are no longer valued, but they are a warning to any potential lender. Also in the information this entry appears even for a longer period. German banks see this entry as a credit obstacle. The automatic rejection of the loan is the result. But there are several other ways to be creditworthy again.
Foreign banks and credit intermediaries
Specialized in difficult loans are various foreign banks. They are mainly based in Switzerland and are reputable credit institutions there. In Germany, preferably via the Internet, they offer their special loans. As a rule, credit intermediaries do the preliminary work for them. Specializing in “problem groups”, the applications of the credit intermediaries are made in such a way that there is a good chance of a loan approval. So the credit is possible again after the discharge of residual debt.
However, in the context of the tightening of banking regulations by the euro crisis, credit approval can no longer simply be guaranteed, as it used to be. The Swiss loans have also been tightened in their specifications. There are still alternatives.
Loans from private investors.
Loans from private investors have experienced a boom in recent years. Parallel to the tightening of banks’ lending regulations, various platforms for these loans have become established. The procedure for obtaining a loan is similar to an internet auction. The loan request will be published on the platform for a small fee. The loan seeker can describe his situation in great detail and thus promote investor confidence.
Investors read the loan requests carefully and can respond to the loan request with a loan offer. If there are enough investors, everything else will be taken over by a bank. She collects the money from the investors and pays the loan. The debtor also has the bank as sole contact for repayment processing. She accepts the repayments and forwards them to the residents. If there are problems with the repayment, then this bank is also the operator of the dunning procedure.
Private investors are not bound by rules on lending. A well-worded request for the loan after the remainder of the debt discharge is usually met.