Private loans without risk: How you can do it?

Many have default entries on their credit records. They can be caused by, for example, unpaid bills, rent arrears or other financial difficulties. Sometimes problems can also be caused by over-indebtedness. Especially then, the reasonableness of a new loan should be carefully considered. Defaults cannot be eliminated quickly and life situations can change quickly, which is why you need to get a loan regardless of the defaults. You can sometimes get a loan from private financiers in these situations without credit information, but you should carefully consider alternatives to loan money. This article discusses the credit opportunities of the uninformed and the importance of credit information to lenders.

Interested in a secure loan for the uninitiated?

If you have a default note, it is difficult to get a quick loan, as almost all lenders require error-free credit information.

However, this requires a little extra effort, or the use of alternative channels, such as applying for a loan from a private defaulter.

In the case of unsecured quick levers, a secure loan for an uninformed person is practically impossible due to the automatic verification of credit information.

How does credit information go?

The number of credit problems in Finland has grown alarmingly in recent years. During the recession of the last millennium, the problem swelled enormously from time to time and many continue to pay for its aftermath. Today, indebtedness can occur due to the abundance of various credit opportunities as well as the ever-increasing supply of loans on the Internet. If you find that you are paying off several loans a month, you may want to check the possibility of combining loans with anloan, so you can save up to thousands of euros a year in interest and loan costs.

When the financial situation drifts, bills are often left unpaid. This will be followed by reminder invoices and eventually collection. In this case, there is an entry in the credit information, which makes it much more difficult to obtain loans and credits, as well as, for example, renting an apartment.

The default will disappear from the credit information in due course, but it usually takes 2-4 years. During this time, the life situation may change and different financial needs may manifest. Even if the financial situation improves, it will not help the applicant’s chances of getting a loan if the applicant has a default note. Of credit loss severity has at times been criticized in public, but lenders it is a valuable tool for the loan risk assessment and loan without a credit history is also the applicant very rarely a good solution.

If for some reason your credit information is gone or at risk of going, you should seek immediate local debt counseling for help.

Is a loan without credit information impossible?

All lenders check any default defaults found in connection with the application. Loan brokers’ partners also always check the applicant’s creditworthiness at the time of the application. According to law, the granting of loans to defaulters is generally prohibited, even in the case of smaller express lips.

The policy is ruthless, but it seeks to prevent ongoing and worsening economic problems from those for whom, for some reason, the economy has already become unbalanced.

However, the final decision on whether a loan is successful without credit information is always made by lenders. Only a handful of them say that they also lend directly to the uninitiated. Loan decisions are influenced by the loan applicant’s credit rating and the lender’s willingness and ability to take risks. Since the economic collapse of 2008, the threshold for subprime loans has risen significantly, especially for traditional banks. Increased regulation has also reduced the willingness of larger banks to grant high-risk loans to individual customers.

In some cases, however, private lenders can make an exception and grant a loan even with bad credit information. However, this is rarely an exceptional case where the loan applicant is able to demonstrate its ability to pay with sufficient earnings or collateral arrangements. In these cases, the lender has to exercise its discretion as well as resort to many different variables. Today, a large proportion of loan decisions are generated automatically. Unfortunately, complex information systems have made it very difficult or impossible to obtain a basis for rejecting a loan application. Indeed, a loan without credit information is usually only successful with the help of a parallel applicant.

However, if for some compelling reason you have a loan with no credit information, you can always try the application. Certain lenders may have lower terms for applicants than others. However, this is usually not advisable for the loan applicant’s own situation. All loan broker’s partners are responsible lenders who comply with good industry practices and Finnish legislation in their loan decisions.

What are the other options when your credit information is gone?

If you don’t get a loan from private lenders or banks, the options are often limited. It is always really difficult to get a loan when, for one reason or another, a small amount has been recorded in the credit information, even for a small amount.

The best way forward in these cases is to rebalance the economy. It can happen with both debt restructuring and saving. In time, credit information entries will disappear, after which it will be easier to obtain loans again. If necessary, you can also try to turn to the help of loved ones or handle larger purchases in installments if possible, but often you can’t pay in installments without proper credit information. When using the keyword “loan without credit information,” we always recommend that you consider other options or defer purchases twice.

Loan brokers help you in loan comparison

Loan brokers are best suited for a situation where you want to avoid insolvency entries by balancing the economy. In particular, consolidating loans is a good way to reduce your monthly borrowing costs and save up to thousands of euros a year. However, a loan without credit information from our partners rarely succeeds.

You will receive many loan offers from us at once, from which you can choose the terms that suit you best. Applying for a loan through us is free and the offers you receive are valid for one month after submitting the loan application.


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