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Installment loan with poor credit rating

When the financial footwear gets tighter and begins to squeeze, many consumers want to remedy this emergency with an installment loan. As a rule, this is not a problem, since an installment loan can quickly restore the much-needed liquidity. It only becomes a problem if the creditworthiness is not right. If this is so bad that the search for an installment loan with poor creditworthiness must be carried out.

What does that mean for the consumer

What does that mean for the consumer

Bad creditworthiness has two major disadvantages for consumers. For one thing, he can no longer simply take out a loan from any bank in Germany. You only get it if your credit rating is good to very good. On the other hand, you have to go abroad when looking for a loan. If you get a loan here, the sum of an installment loan with poor creditworthiness is quite low. For typical Swiss loans, this amounts to a maximum of 3,500 dollars.

Get an installment loan with a poor credit rating

Get an installment loan with a poor credit rating

And yet, this is by no means a sign that you can really get an installment loan with a poor credit rating. Because foreign banks also place conditions on their customers. Even more precise with foreign customers than with domestic customers. The reason for this lies in the fact that a garnishment can only be carried out with great effort by customers from abroad. So if the customer is unable to repay the loan, it can become a problem for the bank.

And that’s why Swiss banks also require their borrowers to provide proof of a permanent job. This must generate an income that is significantly above the garnishment limit. In addition, a guarantor or a second co-applicant is asked. Income must be able to conveniently cover all existing payment obligations. In addition, there must still be enough money for the repayment.

So there is definitely the possibility of an installment loan with poor creditworthiness. But only if you can meet all the conditions for it.

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