How to Build a Good Credit History?

According to various sources, up to a third of people in Latvia have a bad credit history. These are the direct consequences of the economic crisis. Credit history is made up of several factors, the most important of which is credit repayment on time. As with any history, credit history cannot be completely repaired, but you can learn from past mistakes (or failures) and try to avoid similar ones in the future.

How to ruin your credit history?

How to ruin your credit history?

The lender shall be obliged to report any outstanding liabilities within 5 working days if the payment is overdue by more than 60 days and the amount exceeds EUR 150. Once the borrower has remedied the delay, the lender shall notify the Credit Register, the official indebtedness database of Latvia, within five business days. Information on new credit is posted to the registry within five days, while credit information is updated quarterly.

Note that overdue charges also include fines, so a loan of less than $ 100 can turn into a loan that damages your credit history by charging interest. Liabilities that may be recorded in the Credit Register include, for example, utility bills, rent, internet and telephone charges, etc. This means that your credit history literally starts with the first bill you are issued.

What should I do if my credit history is damaged?

What should I do if my credit history is damaged?

In credit bureaus, the debt history is kept for 5 years if the loan is paid off and 10 years if the loan is not paid. This means that if you have trouble repaying your loan, you may have trouble getting another loan for the next five years, or the next ten if you have opted or are forced to not pay it back.

Where to get a loan with a bad credit history?

While banks are clearly quite uninterested in working with people who have had problems in getting a loan in the past, other lenders – quick lenders, pawnshops – may choose to “turn a blind eye” to your bad credit history. Both banks and non-bank lenders may consider you a risk group, either by giving you loans at a lower interest rate or by requiring a collateral. Unfortunately, that is the price if you have not been able to repay your loans in the past.

Can a good credit history be improved?

Can a good credit history be improved?

Yes – that which is good can always be made better. These are the credit obligations that you have successfully fulfilled. For example, borrowing and successfully leasing a product or successfully borrowing and repaying a consumer loan will appear in your credit history and may increase the lender’s confidence in you (but may not mean anything at all). Credit register information is kept for 15 years in the Credit Register.

How to Build a Good Credit History?

Quite simply, cover your obligations on time. This can be done by borrowing responsibly – for example, Swedbank advises against borrowing if the loan is more than 30% of your monthly income. Note that while credit history is considered to be the data recorded in the Credit Register, there are other private credit registers, and banks, when issuing loans, review a bank account statement from the last 6 to 12 months, such as a quick lender for your payment, your credit history (or rather financial wisdom) may not be as good.

Bad quick credit

You must have heard at least something about fast credit. It is also very likely that you have received this information with skepticism. You may have ignored this information for one or more reasons.

Fast credit as something need

Some people do not recognize fast credit as something they need. Quick loans often look like fraud or are associated with other bad emotions. Quick loans do not have to be reputable. The biggest reason people turn away from fast credit is because they are wrong and they may not fully understand them and what they are used for.

So, if fast loans aren’t a total evil, then what exactly are they and why should you know that? Fast credit is also known as short term credit. This is a short term loan, usually about a month, to pay for things you can’t wait for.

On the repayment day, the instant credit is repaid, with little or no additional charge (first credit free of charge), and all transactions are completed. This allows you to pay your bills before they are overdue or even to take advantage of the amazing vacation offer (not recommended) you have always dreamed of.

Quick credit lets you get money when you need it

money cash

Yes, fast credit on the internet is not its best reputation. The reason why high speed internet has a bad reputation is because there are lenders who charge high fees on the loans granted. Compare lenders to avoid high fees or to avoid additional charges at all (first loan or CreditON promotional offer).

So now that you know what fast credit is on the internet, you know where to go if you need money urgently. The bigger question now is, if you choose to get fast credit online, how do you know you are getting the best deal? If a person wants to get fast credit on the internet, they usually want to find the best deal possible. The best course of action in this case is to do a thorough research on our website before applying for one credit. That way, you can know exactly where to go to get the best deal, and you don’t have to work with an expensive lender.

When applying for a fast credit online, make sure you use a secure website, as you will usually need to provide your full name, email address and other information.

Fast credit on the internet is very convenient and you should get the amount in your bank account within minutes. Also, there should be no problems with the documents and you should not send different documents.

Retirement savings: how to find out the amount on your individual account

According to the current legislation, each employer must annually transfer to the Pension Fund monetary contributions in the amount of 22% of the salary of its employees. From these contributions, the future retirement of employees is formed. The greater the amount will be transferred to the individual account of a person, the greater the number of points he will be credited. From the points scored depends on the size of the insurance part of a person’s pension. The amount of deductions will also affect the size of the funded pension (if the citizen has previously decided to send part of the insurance contributions to it).

Regularly monitor the status of your individual personal account – in the interests of each person. In this article we will tell:

  • how to check the status of your individual account;
  • what information does the Pension Fund report contain (on the number of accumulated pension points, the recorded work experience, the amount of pension savings);
  • how to use the information received.

How to get information about the state of a personal retirement account

How to get information about the state of a personal retirement account

The easiest way to get acquainted with the state of your individual personal account is to contact the portal of the State Service. To receive a report, you must enter your Personal Account on this popular site, and enter the query “accrual pension” in the search box. In the search results, the link “Check pension savings” will appear. At the next stage, you will need to go to the proposed link and click on the “Get the service” button.

Within one or two minutes you will receive a notification. It will contain files with reports from the Pension Fund in xml and PDF formats. They can be saved on your computer or sent to e-mail. This service is provided free of charge.

What information does the FIU contain?

What information will you get after opening the file?

Selected option to form a future pension

The report will indicate the method of forming the pension that you have chosen. There are only two possible options. It is possible to direct all 22% of the salary that an employer deducts to the formation of an insurance pension. Or you can send a portion of this amount (6% of salary) to a funded pension.

The older generation, born before 1967, have no such choice. All their deductions come without fail on the insurance pension.

What is the pension fund different from insurance? Cumulative contributions are credited to a non-government pension fund. This fund citizen chooses. NPF invests the funds in securities. Ideally, the insured person receives additional income from these investments. Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement The amount of this pension depends on the amount of savings. The state funded pension is not indexed.

Number of retirement points and recorded employment history

Number of retirement points and recorded employment history

The second important point that is contained in the FIU report is the number of pension points accumulated by a person (the value of the individual pension ratio). Points are awarded to a citizen for each worked year. The number of points directly depends on the size of the employee’s salary (the amount of employer contributions to the Pension Fund). Pension points are collected only by those people who are officially employed. The higher the salary of a person, the more points he gets. Important: wages must be “white”, that is, not hidden from the state.

To be eligible for an insurance pension for their working life, each person must score a certain number of points. In 2019, the required minimum is 16.2 points. In the future, the minimum threshold will increase. In 2025 and in subsequent years, to receive an insurance pension, you will need to accumulate at least 30 points.

The size of the pension insurance will also depend on the size of the individual pension ratio. Pension payments are calculated according to the following formula: the number of points scored multiplied by the value of one point is added to the base fixed amount.

will increase annually. As a result, by 2024 the minimum experience will be 15 years.

Also, the document from the Pension Fund will contain information about the length of the work experience, which is taken into account for retirement ahead of time.

All information on employer contributions and accumulated pension points is presented in the report by year, starting in 2015. Since that time, began to operate a new pension law.

Separately, date on periods of labor activity of a person up to 2002, as well as from 2002 to 2014, are given. All information is presented by year, name of the employing companies, the average monthly salary, the amount of insurance contributions to the pension fund. All of the above data on the work activity of a person has been converted into retirement points. From the report you can find out how many points a person could score before the new pension legislation came into force (until 2015).How will the savings be paid? Payment of funded pension begins after retirement. In some cases, the employee is entitled to receive the entire amount of savings at once, or to pay off accumulated funds during a certain period (at least for 10 years).

How to use information about the status of a personal account?

Based on the FIU report, you can see how you earn retirement points. From them will depend on the size of your pension in old age. This document clearly shows how strongly the individual pension ratio depends on the number of years worked and on the size of the salary received.

The FIU report also reflects all recorded information about your previous work activity. It may happen that some period is not included in this report. In such a case, documents confirming the fact of employment should be collected in advance and submitted to the Pension Fund department. Based on the new information, your individual pension ratio will be revised and increased.

Linear mortgage loan

The linear mortgage loan is a cheap mortgage loan form where the homeowner has higher net monthly payments, mainly at the beginning of the term. But as the term of the linear mortgage loan progresses, the costs go down.

With this mortgage loan loan you have the certainty that the house is paying off before the end date of the term. You pay the same amount every month. What is a linear mortgage loan? And how is it that your monthly payments with this form of mortgage loan go downwards, while you do pay the same amounts every month?

With the linear mortgage loan you are becoming more and more affordable every month

With the linear mortgage loan you will always pay off more cheaply. It’s like this: every month you pay the same amount to the bank. After 30 years your mortgage loan has been repaid in full. You pay the same amount of repayment monthly during the entire term (you therefore pay off linearly). Because your total debt continues to decrease, you will also pay less and less interest. So you pay 1 / 360th less interest every month.

Faster mortgage loan repayment

Because you pay faster with linear mortgage loans than with, for example, the annuity mortgage loan, you pay less interest in its entirety. Although borrowing money with this mortgage loan is cheaper than with an annuity mortgage loan, it is not very popular. The monthly expenses are mainly high in the first few years because you then pay extra. Not everyone is willing to offer such a “precious” sacrifice. And not everyone is capable of that either.

Monthly charges linear mortgage loan

As you now know, the monthly costs are particularly higher at the start than with a mortgage loan where you pay off on an annuity basis; the annuity mortgage loan. But every disadvantage has its advantages! Because you pay off a lot in the beginning, the monthly costs will eventually decrease because you will pay less interest.

With the linear mortgage loan you are therefore somewhat more expensive in the beginning. At half the duration the costs are already a lot lower. The linear mortgage loan is considered cheap in its entirety. At least, this mortgage loan loan is cheaper than the annuity mortgage loan if you calculate the mortgage loan costs over the entire term.

Inflation is a bit of a spanner in the food …

With an average linear mortgage loan, homeowners are about four percent cheaper than with an annuity mortgage loan. Inflation does throw a little bit of spanner in the food. Yearly life is slightly more expensive and money is therefore always worth a little less. If inflation in the Netherlands rises, your linear mortgage loan can turn out to be more expensive. Because you solve a lot in the beginning. In fact, an annuity mortgage loan is cheaper with inflation at 3% or more …

What about the mortgage loan interest deduction & linear mortgage loans?

For both types of mortgage loan, the linear and annuities mortgage loan, there is an important advantage: The mortgage loan interest deduction. Without this ‘subsidy on living’ it would be impossible for many people to buy a home. The amount of mortgage loan interest deduction you receive depends on the amount of the mortgage loan and your income. The more you earn, the more tax you pay. It means that people with a higher income benefit the most from the mortgage loan interest deduction for a linear mortgage loan. After all, the interest on your mortgage loan will be deducted from the upper part of your income ….

How to calculate maximum linear mortgage loan?

For calculating your maximum (linear) mortgage loan, there are a number of factors that determine the level of your home loan. You can also calculate online what your monthly costs will be if you would opt for this mortgage loan via Loans or on the website of any bank. The mortgage loan must be fully repaid within a certain period. Usually an ideal term of 30 years is chosen.

Online calculation example mortgage loans

Most banks use this term (30 years) for their online calculation examples. You pay a gross amount of repayment on a monthly basis. This amount is always fixed for linear mortgage loans and therefore does not change. In the course of time, the interest amount you have to pay will fall. To gain insight into your actual monthly expenses (the net monthly expenses = after interest deduction), you can best use a ‘mortgage loan calculator’. This determines for you up to 99% accurately your net mortgage loan monthly payments.

In summary: calculate monthly expenses linear mortgage loan payments as follows:

  • Go to the website of the relevant bank or hypotheker.
  • Use their ‘mortgage loan calculation module’ to calculate your maximum mortgage loan.
  • Fill in all data truthfully.
  • Then click on “calculate” and you will get an indication of the maximum loan amount and the monthly costs.

Current interest rate linear mortgage loans

In 2017 and 2018 you borrow money for a home at very competitive interest rates. The interest rate partly determines the maximum amount that you can borrow. In general, the following rule applies: The longer you keep the mortgage loan interest rate fixed, the higher the interest rate becomes during the term.

Short term mortgage loan or long term?

An adviser can assess what is sensible for each situation: Do you opt for a short term with a linear mortgage loan? Or does the choice fall on a long term? A short term is recommended by banks if you do not intend to stay in your new home for a long time. After all, when you move, you are not stuck to a mortgage loan.

A shorter term is therefore often requested by starters. mortgage loans with a short term of 1 to 5 years have a lower interest rate. A term of 10 years fixed interest is also relatively cheap. Between 1 year fixed and 30 years fixed, the difference can be up to 2% interest! You can also opt for a variable loan rate.

Request a mortgage loan quote without obligation

Do you know enough and would you like to apply for a mortgage loan offer? Which can! Search on loan for a cheap and reliable mortgage loan provider and request them a mortgage loan quote without any obligation. We will not see your details. All correspondence is made via the relevant bank or mortgage loan lender. This way your privacy is guaranteed.

Why take out cheap linear mortgage loan

Loan provides independent information. On our website we also show the cheapest mortgage loan providers in the Netherlands. So you do not have to look for a cheap mortgage loan yourself. We do not leave loans and mortgage loans ourselves. We adhere to the rules of the AFM and therefore never issue an advice. For an expert mortgage loan advice on linear mortgage loans, we refer you to the providers that you find on our website.

Types of mortgage loans

The choice for a mortgage has financial consequences for the next 30 years. The monthly costs depend on the amount you borrow, the interest rate and the type of mortgage. A mortgage advisor helps you to choose the right mortgage. With this information you are well prepared for the interview.

For new mortgages you can only deduct the interest under certain conditions. You must repay the mortgage in 30 years according to at least an annuity scheme. The linear and annuity mortgage are therefore now the most attractive types of mortgage.

Annuity mortgage

  • You pay a fixed monthly amount. This amount consists of interest and repayment.
  • In the beginning of the term you pay a lot of interest and you do not pay much off. Later that is the other way round: you pay little interest and then pay off a lot.
  • At the end of the term you have repaid the entire mortgage.
  • If you use mortgage interest relief, the net costs are initially low. Later the monthly costs increase.

Linear mortgage

  • You pay the same amount every month. For example 1 / 360th part with a duration of 30 years.
  • You pay interest on the remaining debt.
  • The monthly expenses are high at first, but decrease later.
  • At the end of the term you have repaid the mortgage completely.

Older mortgage forms

If you bought a home before 1 January 2013 , it may be that you have taken out another type of mortgage. The interest was at the time also deductible for these mortgages. If you buy a new home and you already had such a mortgage, you can sometimes take part of it into your new mortgage. Discuss the possibilities with your mortgage advisor.

Savings mortgage

  • You pay interest on a monthly basis.
  • You do not solve anything.
  • Instead of redeeming, you save the entire amount during the term to redeem the mortgage.
  • At the end of the term you can certainly repay your mortgage.
  • You save via a life insurance policy or a bank savings account . With a life insurance policy you pay part of the premium for a term life insurance policy. This is not the case with bank savings. You can choose to take out a separate term life insurance policy. The interest you receive is always equal to the mortgage interest. So you do not suffer from interest rate fluctuations.

Investment mortgage

  • In addition to interest, you pay a monthly amount with which you invest.
  • The proceeds at the end of the term are, according to plan, enough to repay your mortgage. However, this depends on the developments on the stock market.
  • An investment mortgage can yield more, but you also have more uncertainty.
  • You invest yourself or through a life insurance policy. You also often pay a premium for a term life insurance policy.

Interest-only mortgage

  • You do not pay anything during the term. You only pay interest, which is deductible.
  • This can only be done for part of the mortgage, or if there is enough surplus value.
  • You take care of building up your own assets so that you can redeem at the end of the term.

Hybrid mortgage

This is a combination of mortgages: part of a savings mortgage, a part of the investment and a part of a redemption

€ 290,000

is on 1 January 2019 the maximum purchase price for a house with a mortgage with NHG

Overvalue and residual debt

Sometimes there is a difference between the value of a home and the remaining mortgage debt. There is then an overvalue or a residual debt.


Suppose you have taken out a mortgage for 200,000 euros. Your home is now worth 250,000. Then there is surplus value. You can then increase your mortgage and get extra money.

This is called a second mortgage. You then have to pay more per month. Also, changing the mortgage costs a lot of money. The interest on the extra mortgage is only deductible if you use the money for the maintenance of your own (first) home. If you use the money for the purchase of a car or boat, the interest is not deductible. You must also repay the additional mortgage at least as an annuity to qualify for mortgage interest deduction.

Residual debt

The inverse of surplus value can also occur. Your mortgage is then higher than the value of the home. As long as you pay the monthly costs, that is no problem. As soon as you want or need to sell the property, you can remain with a residual debt. The proceeds from your home are not enough to pay off the mortgage. Read more about a residual debt on Or look at ‘Problems with payment of your mortgage’ .

Tip: House sold? Any costs of cancellation of the mortgage can be stated in the tax return as deductible costs. When deleting the mortgage, the right of security is removed from the land register.

Convenient e-book

When purchasing your first home, you enter into a long-term financial obligation. Good preparation for what is affordable helps to make a good choice. The e-book ‘Affordable mortgage’ helps you with this.

Mortgage loan management

During the term of the mortgage loan, it is important that mortgage loan owners keep a grip on their housing costs. Personal circumstances can change, and the housing market is also constantly evolving.

How can you, as an advisor or provider of funds, properly guide your clients? And what to do if households get payment problems?

Conduct timely advice

Many mortgage loan owners wonder how their mortgage loan stands for. House prices are on the move, rules on mortgage loan interest deductions are changing. This creates financial uncertainty for homeowners. Are and will their housing requirements remain affordable, are they at risk and what are possible solutions? Here lies an important role for the advisor.

The timely discussion of bottlenecks helps to find an effective solution. This way problems can be prevented. And that is both in your interest and your customer.

Bank supports

Bank can assist advisers or departments (special) management in various ways in contact with the customer. These are both materials that help your customer to better understand his situation, as well as training to increase your skills as an advisor.

Advancement of expertise for the consultant

The mortgage loan is a complicated product. After taking out the mortgage loan, most people are no longer working on their mortgage loans. Knowledge is sinking and many no longer know exactly which mortgage loan construction they had chosen. The better the customer is aware of his or her own financial situation, the more pleasant an advisory interview is.

  • The Bank Grip reading on my mortgage loan payments gives professionals the opportunity to provide their clients with independent information during an information meeting of one hour.

Bank training offers tailor-made training for your advisers. We develop training courses that offer consultants knowledge and practical tools for making a balanced budget based on reference figures, recognizing risk groups and guiding clients.

Especially for consultants, Bank developed the two-day Grip training on mortgage loan arrears. Here you will learn how to guide clients with budget problems efficiently and effectively.

Tip: the free Bank calculation tool Personal Budget Advice gives the customer insight into his current financial situation: which living expenses fit within the budget?

With structural problems

Bank advises various parties on the financing burden standards in the context of mortgage loan lending. These standards include a number of cases that reduce the risk of default in a household.

Nevertheless, consumers can get into financial problems if there are long-term negative circumstances. For example, in case of continuous unemployment or divorce. Selling the home is often not a structural solution. In that case, the mortgage loan lender has to look for other solutions.

Restructuring mortgage loan

Part of that solution can also be a restructuring of the mortgage loan. In such a case, it may not be useful to maintain in full the financing burden standards as applied to disclosure.

Management criteria

In the context of the National mortgage loan Guarantee (NHG), different standards are applied in those situations than the provisioning standards. Bank advised on the formulation of these so-called management criteria.

Is it time to scrap your old mortgage loan?

The mortgage loan is replaced by the replacement of the old agreement, with a more recent and certainly more favorable one. In detail, there are several possible options, which must be studied with due care based on the specific needs of the client and the offers offered.

  • The renegotiation of the loan provides for the possibility of contracting directly with the banking institution with which the original loan was stipulated, in order to modify the duration, installment frequency and repayment plan (for example, you can switch to increasing or decreasing installments) , according to customer needs).
  • Conversely, the mortgage loan is replaced when it is intended to pay off the contract already in advance, with the capital obtained from the new loan. In this case, the charges borne by the customer are greater because it requires the stipulation of a new contract will incur costs of appraisal and investigation and substitute tax. In this case, the advantage is the possibility of being able to request an amount higher than the amount of the residual capital of the old mortgage loan.
  • The subrogation of the mortgage loan guarantees instead the possibility of passing the debt to a different bank that offers better conditions, without necessarily having to support the costs to be able to formalize the replacement, obtaining the exclusion of penalties and other charges of any kind. The bank thus takes over the mortgage loan guarantee already registered and will have to pay off the old debt, replacing the original creditor.

The extremely low rates of recent years, today at historic lows, have made the scrapping of the mortgage loan a very usual operation, thanks to the possibility of lowering the installment without additional costs or, alternatively, obtain additional liquidity.

The consultants of ABC Finance are professionals in the sector and can offer a number of very appealing opportunities, in order to evaluate any possibility of improvement of their mortgage loan.

Access to loan: when reputation counts

Access to loan: when reputation matters


When evaluating a request for access to loan from a company, how important is the profile of the entrepreneur?

When a few days ago we saw c ome is verified the feasibility of a loan application , the analysis that we have proposed has highlighted especially the historian of the company and the shareholder structure, economic and financial factors, and the bank PERFORMANCE purposes.
All factors always taken into account by banks in the analysis of loanworthiness (probably, what differs from the past, is the degree of severity with which certain parameters are evaluated). In all this an important factor is missing, that is the profile of the entrepreneur / representative of the company.

The “direct bank” takes off

It is a duty, for the lender, to get an idea of ​​the subjects to whom the loans should be provided. This need, always present, is now inscribed in a context in which traditional relationships with banks (I go to the branch, I speak with the consultant, I make an appointment to see the director, etc.) are gradually leaving room for contacts more frequent and aware, but based essentially on technology, then through the use of mobile and the web (thanks to smartphones and tablets). So the so-called “Direct Bank” is made wider, of which we often analyze the characteristics on these spaces.

How to know the customer?
This trend is on the rise above all in the Anglo-Saxon countries, mainly in the private sector, but also special services for companies are beginning to appear on the market. In Italy this trend is less evident, even if some banks have begun to invest in digital services to businesses.
One of the main purposes of the “Direct Bank” is to find new ways to interact with the customer.
How, then, will it be possible for the bank that has to finance a company project to obtain a precise idea of ​​the entrepreneur making the request?

The “loan scoring”
Some American and British financial institutions are beginning to look for useful information to integrate the final evaluation, building a real “loan scoring”, based on the “traces” that a subject leaves on the web . “Social media” therefore become fundamental tools for measuring reputation.

How does it work?

For example: if a restaurant makes a request for funding, it is part of the valuation practices to research the online reputation of the business. So: the presence of a site, a continuous management of pages on social networks or reviews on Tripadvisor certainly help to better understand what type of business and entrepreneur is requesting loan. If the restaurant itself was not in any way traceable on the web, it would certainly not be a good sign.

This type of analysis certainly represents the future of loanworthiness analysis . Let’s not forget that information is common on the web: it is therefore important for the entrepreneur, right from the start, to carefully consider everything he talks about him and his activity on the internet.

Banks and businesses: the theme of loan requires a change

Banks and businesses: the theme of “loan” requires change


The access to loan for businesses and the provision of loan by banks are two obstacle courses that often struggle to find a meeting point. Whose fault is it? Of all and nobody: it is a problem of a system (management, evaluation and communication) that struggles to be rethought, which generates numerous debates and opinions and which we can see a resolution in a still too distant horizon. Banks and businesses must somehow change: who starts making the decisive move?

This is often discussed at conferences on the topic, such as financing the recovery: the challenges of loan to companies , the event presented by Banca Finanza a few weeks ago in Turin. Interesting insights about the prospects for changes in banks and businesses emerged from the debate.

The evaluation models of banks

The information assets available to banks to assess companies’ requests for access to loan is increasingly important. There are not only the “accounts” of the company (balance sheets, assets) and relations with the financial institutions of entrepreneurs: it is also important to consider the huge amount of data that applicants leave communicating on the web, in addition to development projects and to entrepreneurial ideas. The need, in short, is to manage a qualitative information asset of outline and perspective, so as to translate it into a more complete assessment of loanworthiness, not just respecting the old rules for loan lines (the company’s accounts and its heritage).

Patrimonialize companies
On the other hand, companies are called to become stronger and therefore be capitalized with the direct intervention of entrepreneurs. 98% of Italian companies are SMEs, ie small and medium-sized companies (often family-owned) whose assets are often not sufficient to guarantee solidity for the business project. But this is just the tip of a much larger iceberg in which critical issues accumulate ranging from unfamiliarity to managing corporate information, to the scarce capacity for timely financial planning, to excessive fiscal optimization (all of which we are deepening in the #Meritoloano initiative)

An example (to understand how things are)
In a nice article by Il Giornale, written by Guido Sirtori, the description of a typical case best portrays a historical moment in which banks and businesses need to respect precise rules and communicate according to a shared code. Here is the example in the article ( which we recommend reading in full here ):

” In the eighties a bar with a company structure of srl, a share capital of 1,500 euro, 50 thousand euro of fixed assets and 100 thousand of declared turnover (but in reality much higher) obtained in the bank a loan line of 150 thousand euros. Today the same bar, according to the rules of Basel 3, would have a loan of up to 10 thousand euros. And so the dilemma of the bank, with respect to this loan openness, is to assess the customer’s solidity or apply rigidly the rules “

Online Loans without Private Credit

According to statistics, more than three million German citizens are affected by negative Private credit entries. Negative entries can occur, for example, if you constantly overdraw your checking account or can no longer service loan installments. With a negative Private credit score, the chance of obtaining credit at the house bank is almost zero. However, there are also providers who give an online loan without Private credit. Below we would like to introduce the credit-without-Private credit test winner of our online credit-without-Private credit test.

Credit-without-Private credit test winner: Important at a glance

Credit-without-Private credit test winner: Important at a glance

  • Effective annual interest from 4.90 percent
  • Agency fee is due only after credit approval and credit
  • Credit also possible with bad Private credit rating
  • Maturities between 12 months and 120 months

What is a credit-without-Private credit?

What is a credit-without-Private credit?

It is not uncommon for beacons to reject loan requests because the Private credit score is too negative. But what should one do if one needs money, but does not get one because of the negative entries? Do not worry, it’s also possible to get an online credit-without-Private credit. Such a loan is a loan that is granted independently of Private credit and does not carry a Private credit note. Unfortunately, there are some black sheep in this industry who are trying to make a profit from the financial hardship of others. Interested parties should not rush and take a closer look at the offers. Often then find such dubious providers enormous costs, such as an agency fee, which is required before the loan approval. Far too high interest rates usually speak for a rather poor credit offer and customers should keep away from it.

Credit-without-Private credit test: That’s the winner

Credit-without-Private credit test: That

Crediter won the race for first place in our big credit-without-Private credit test. Test winner Crediter has specialized in arranging loans for more than 40 years. Its range of services includes instant loans up to 100,000 euros, ancillary loans up to 50,000 euros, loans for retirees up to 80 years, real estate financing even without equity and, of course, Private credit-independent loans.

The offer of the test winner Crediter

The offer of the test winner Crediter

Credit offer received without obligation

Anyone who does not get credit from their house bank due to a negative Private credit rating, has the chance of getting a loan through this provider. The conditions for granting a loan are as follows:

  • The borrower must be at least 18 years old
  • The residence must be in Germany
  • The borrower must have a regular income (employees, civil servants, pensioners, etc.)

A negative Private credit entry is in the credit-without-Private credit test winner usually no reason for refusal. In order to find the right offer for each customer, Crediter is in contact with up to 20 banks at home and abroad. As a result, the borrowers receive a non-binding offer. This is absolutely free and customers can refuse this at any time. As with all other providers in this sector, Crediter will incur an agency fee. However, unlike many other companies, it does not have to be paid until the successful conclusion of the contract and the money has been credited. This fact alone demonstrates the seriousness of the provider.

The annual percentage rate starts with our test winner at 4.90 percent pa At this point, however, it must be said that the amount of the interest rate depends on the creditworthiness of the customer and can be up to a maximum of 16.90 percent pa. Even though the maximum interest rate initially appears to be quite high, it must be kept in mind that Crediter takes on an increased risk when arranging loans to customers with a lower credit rating.

In terms of maturity, these are completely flexible and range from 12 months to 120 months. The possible loans are between 1.000 Euro and 100.000 Euro.

Our conclusion: Serious provider with years of experience

Many borrowers have already given up the hope of getting a loan to fulfill, for example, a big dream.

With our test winner Crediter, however, customers have access to a competent and experienced provider, who, even if creditworthiness is lower, usually allows a loan.