Consumers may, for various reasons, have an interest in borrowing without the knowledge of the principal bank. For example, concern about the reduction of existing credit lines may be the cause of the desire for confidentiality; Further reasons are also conceivable.
Fact that banks in principle also learn about payday loans
The problem for borrowers lies in the fact that banks in principle also learn about loans that are taken out by other banks these are stored in the database of the protection association for general credit protection. Although the house bank can not find out where a loan has been taken out in the event of a query from the credit agency, the amount and the term are obvious.
In the worst case, a bank, if it receives a payday loan, cancels the discretionary credit if it considers the customer insufficiently creditworthy because of its overall obligations. Consumers who want to avoid such a disagreeable scenario can come closer to their goal through an information-free loan. The loans often referred to by the providers as “loans without Credit bureau” are disbursed without being registered with the credit agency based in Wiesbaden. If the house bank asks there in the course of regular credit checks, nothing is said of the commitment.
Requesting an information-free loan
However, requesting an information-free loan alone is not sufficient to maintain the desired confidentiality. If the loan is transferred from the paying bank to the current account of the borrower, the bank can recognize the nature of the receipt of the money and, if the money house is in the interest, draw its conclusions. Specialized providers therefore enable consumers to disburse Credit bureau-free loans post-paid. The borrower collects the loan amount in cash from a branch of Deutche Post. In this way, no third party learns of the commitment.
Loans without registration in a credit agency
Whether it is absolutely necessary to hide a loan from one’s own bank depends on the individual case. If there are good reasons for such an approach, appropriate options are available with the post-payable loans without registration in a credit agency. The borrowing rates of the rather special and rather rare loans may be slightly priced above those of conventional loans; the surcharge takes into account the higher administrative costs.