What Businesses Approve Bad Credit

Recognizing dubious credit intermediaries: common pitfalls

Therefore, when looking for sources of money when you are in financial difficulties, you should be particularly careful.

The following tips will help with the seriousness check:

Beware of emergency aid or loan offers without collateral

If offers promise immediate immediate aid, great caution is required. Because credit brokers do not grant loans themselves, they do only pass inquiries on to banks. What is certain is that this activity makes the loan more expensive - if it is granted at all. The financial institutions alone decide on this. This also applies if no collateral is allegedly needed, the Schufa entries are irrelevant and low or missing income is no problem. Experience has shown that loans are practically never granted without a corresponding credit rating.

Warning: reputable names and professional websites

Even if mediators are fine-sounding and Wear names that inspire confidence, point out memberships in associations or make their websites look more reputable than those of a bank, that's still the case no reason to blindly trust them. This also applies if intermediaries refer to the approval according to paragraph 34c of the trade regulations. The official "approval" - the law speaks of permission - is essentially a formality and says nothing about the offers of a loan broker or about his seriousness.

Cash on delivery trap

The practice is also widespread alleged contract documents by cash on delivery to send. The agent fee is collected immediately. However, the postman often only brings a pile of worthless paper into the house, for example application documents for an allegedly approved financial restructuring that was not wanted at all. The money is then gone without a loan agreement being signed.