Swiss credit has become a symbol of financial freedom for many German consumers. In some circumstances, these allow them to take out a loan even if they have a negative credit bureau. But this freedom can not be strained unconditionally. There are Swiss credit requirements that are mandatory and that are not negotiable.
Reputable providers will never apply for a Swiss loan on a flat-rate basis. You will always stress that this type of lending can only take place under certain conditions. Therefore, it is important that the borrower knows exactly which conditions for a Swiss loan must be met.
Swiss credit requirements in detail
Even if a Swiss loan can be awarded even if the creditworthiness of the borrower is not quite as optimal, this does not automatically mean that a Swiss loan will be given out in all conceivable circumstances. But on the contrary. The lenders are already looking very closely at how high the credit risk is with regard to lending. That is why Swiss credit is classified seriously.
No credit intermediary or bank would ultimately want to give up the repayment of the money from the loan. Therefore, Swiss loans are only awarded if there is a safer repayment by the borrower. And in order to guarantee this safe repayment, it is looked at exactly before the award of the loan, which requirements the borrower for the borrowing can show.
Since a Swiss loan is a loan that can also be taken on negative traits in the credit bureau, it is natural to first of all analyze these negative traits in the credit bureau in more detail.
When is a Swiss loan possible despite negative credit bureau?
A negative entry in the credit bureau has accumulated quickly. Whether it’s a delay in repaying an invoice, an open mobile bill, which may even be considered contentious, an unpaid insurance premium, or a default loan credit default. The creditors are relatively quick when it comes to depositing such things as a negative entry in the credit bureau of those affected.
For the award of a Swiss loan, this means that the lenders look closely, which negative entries can be found in the credit bureau or in other information files. A late-paid bill or an open mobile bill does not necessarily mean that a Swiss loan is rejected.
Rather, it is the case that with such soft negative criteria quite a blind eye can be closed and a Swiss loan is granted, as far as all other requirements for the lending can be met.
If, however, entries can be found in the credit bureau that indicate credit cancellations, account cancellations or several negative entries for which payment obligations have not been met, it will be difficult to obtain a Swiss loan. Because then the risk of default for the lender is significantly increased. And this risk is reluctant.
The higher the default risk, the more difficult it becomes for the lender to recover his entire money from the loan. Especially if there are defaults and the money must be sued by the court. If there are several creditors, because other payment obligations have not been met, the creditors are always served in order. If the loan was last taken, the lender gets his money back from the loan last.
When is no loan from Switzerland possible?
A Swiss loan is always hopeless when the negative entries in the credit bureau or in other information files focus on affidavits, bankruptcies or even arrest warrants. The legislator stipulates that no credit may be granted for such entries in the credit bureau. Debtors who have such entries in the credit bureau must not lend themselves money, because first of all the creditors must be served, who are still waiting for their money due to the bankruptcy or the sworn statement.
And this servicing of creditors must not be done with the help of a loan. In the case of an arrest warrant, no credit may be taken to avoid a risk of absconding, for example by making money for the escape through the loan.
The income as a prerequisite for a Swiss loan
A Swiss loan must be well secured. Since this is not possible through the credit bureau, the income for such a loan must be particularly good.
So the income must be obtained regularly, ie monthly. It must be a fixed income, which does not fluctuate monthly and which comes from a job with social security contributions. If premiums or other allowances are to be received, which may be paid by the employer as an additional charge through installation work or redundancies, only the fixed income will always be used to assess the income for the loan. Allowances, bonuses and other payments are not included in the calculation of the loan.
The income must be proven when applying for current salary certificates. As a rule, this income must come from a permanent job. It must be well above the seizure allowance and should be purchased for at least half a year.
Our Note: There are certainly some credit intermediaries who accept a lower income. However, it always depends on how high the loan amount is and how the loan can be hedged for repayment.
Which collateral is additionally accepted?
Depending on loan amount and income, some lenders require additional security from their borrowers. As security come z. B. endowment insurance or a guarantee in question. Such collateral should only be offered by the borrower if the lender requires it in order to ensure lending. Otherwise, it is not advisable to offer such serious collateral. Because they would make no sense, even if you belong to the Swiss credit requirements in the broadest sense.
Material collateral such as antiques, cars or real estate are only partially requested by the credit agencies. Here, the current time value must first be determined in order to be able to classify its value. As a result, intermediaries prefer to focus on insurance or on a guarantor because their value can be assessed fairly quickly.
Other requirements for a Swiss loan
In addition to the prerequisites for borrowing, the following general conditions apply:
- A minimum age at the borrower of 18 years
- A permanent residence in Germany
- A german bank account
Only if these additional Swiss credit requirements are met will a lender be found who agrees to a loan. If the admission of a Swiss credit does not succeed, it is recommended not to look for other alternatives of the borrowing.
These are usually not serious and do not ensure that a financial security arises. Rather, a rejection of a Swiss loan is a clear sign that borrowing is currently not recommended. Because even if a Swiss loan does not work, then other credit models will not work. Borrowing is definitely not recommended.