Negative Credit bureau rating
A small loan without Credit bureau for trainees is usually relatively difficult to obtain, since the trainee has many negative aspects that make it difficult to borrow in the conventional way. On the one hand, the loan without asking Credit bureau implies that the borrower has a negative Credit bureau rating and thus a reduced credit rating.
In addition, the usual salary as a trainee is so low that there is no room for paying off an additional loan, which means that the applicant’s creditworthiness is further reduced. Both negative aspects in combination ensure that even a small loan is only rarely issued to a trainee if the trainee has a bad rating at school at a young age.
As a rule, Credit bureau-free loans are only ever issued by Lite lender banks, which in turn expect the borrower to have at least average income. As a rule, however, the trainee has a very low income, which often leaves only a few hundred USD even in the 2nd or 3rd year of the apprenticeship – not good conditions for a loan.
What opportunities for trainees in need of credit?
If a small loan without Credit bureau is urgently needed for trainees, trainees usually only have the option of a guarantee. In this case, the guarantor would be liable for the trainee’s assumed debt, but only has to pay if the trainee has a default or is no longer able to repay the loan taken out in the long term. As a rule, potential guarantors can only be found in close friends or families, since the guarantor represents a high risk for the guarantor without any profit.
A small loan without Credit bureau for trainees may also be possible in a modified form if money is borrowed from the closer relatives. Smaller amounts, which measure only in the two or three-digit range, can often be borrowed from parents, grandpa and / or grandma, without the credit rating playing a decisive role. On the contrary, family members often borrow money even if it makes no sense from an economic point of view. This is where the good personal relationship with each other decides, but as a rule the loans are also interest-free.