Would you like to take out additional credit despite payment in installments? With good or poor creditworthiness? With a high budget surplus or with a tight budget?
Credit requests despite existing installment payments can easily be approved in the automatic credit procedure. Basically, there is nothing to prevent a borrower from fulfilling additional credit requests. But, the opposite can also be the case.
We would like to help you with information so that you can get the loan you want and can afford.
Loan despite payment in installments – regular loan financing
Computers today usually decide whether an additional loan is granted despite payment in installments by a regular bank. The examination scheme can be summarized in a simple way. After the non-binding loan application, the program first checks the budget bill. The income must be sufficient to reliably meet the existing payment obligations and the additional credit rate.
The program usually answers in real time with the non-binding loan approval. If the additional loan does not fit into the budget, the program usually answers evasively. The process is forwarded to an administrator. In general, the prospective customer no longer hears from the bank afterwards. In the majority of cases, however, the loan approval is given. Now it is time to make the loan application binding.
You can do this via Post-ID or Videoident. Videoident goes faster. After the legally binding application for credit, the creditworthiness is checked using the score. The prospect of receiving a loan despite payment in installments is good if all payment obligations have been met on time in the past. The prospects are only blurred if there were problems, a job change or a move.
Existing credit obligations – effect on the score
From a lender’s point of view, there is no logical reason to refuse additional loans. Provided that all payment obligations were always met on time and there were no other serious risk changes. Existing serviced loans affect the score only to a relatively small extent. But on the contrary. If the loans are already “old” and have been largely paid off, they even speak for additional lending.
They act as proof of contract compliance over a long period of time. However, there could be problems in taking out a second installment loan from the same provider. The reason that additional credit is not granted by the traditional provider despite payment in installments lies in the terms and conditions. Many credit institutions allow only one loan per credit model, regardless of creditworthiness.
So a private checking account with overdraft facility, a private installment loan, a mortgage loan per applicant. As a countermeasure, it is sufficient to either apply for the mostly optional credit increase or to change providers. “Pretty daughters have other mothers,” it is the same with the installment loan. Simply select a suitable loan offer from another bank via the loan comparison and apply for the desired loan.
Problem solutions – compensate for slight weaknesses in creditworthiness
If it doesn’t work right away, a solvent guarantor or co-applicant could provide access to the cheap regular installment loan. The advantage of naming a guarantor instead of looking for special loans is the lower interest rate on regular installment loans. The guarantor creates security for the credit institution if the borrower overestimates himself with his additional loan.
If problems arise, both the borrower and the guarantor or co-applicant are liable for the loan repayment as well as all loan costs. Another option would be to pledge a property in kind as security for the loan. However, only very high-quality goods are accepted, such as property ownership or the vehicle registration of a high-quality paid vehicle.
The third option would be to change providers. However, one credit application after the next should not be submitted to all findable credit institutions. Every legally binding and checked loan application is reported to credit bureau. Every loan refusal is saved at credit bureau and worsens the chance of further loan attempts. credit bureau only treats non-binding credit inquiries “neutrally”.
Loan search – loan with low credit rating despite installment payment
Not all free credit comparisons record credit offers with good and poor credit ratings to the same extent. Astro Finance’s loan comparison is designed to help you find an installment loan from a bank with a good and somewhat weaker credit rating. Astro Finance also does not charge a commission for loans that are arranged through the credit comparison. The loan comparison is and remains free for borrowers.
Despite the payment in installments and poor creditworthiness, the loan you are looking for can be found by a bank through the deferred credit check. If the credit rating is weak, providers check by hand in order to evaluate the credit opportunities as realistically as possible. Another option would be to contact one of the established credit intermediaries. In this case, the credit intermediary checks the credit opportunities with suitable credit banks.
Credit despite existing credit – private lenders
Another option when credit banks are no longer willing to lend despite ongoing loans is a private loan. Astro Finance and Cream Bank enable serious contact with private investors within their portals. The loan would be applied for in spite of payment in installments by a private loan application.
The loan application should be well worded and understandable, showing the potential lender that the loan will be repaid safely. It would also be important to activate the free certificates so that investors can get a comprehensive impression. If a sufficient number of potential lenders recognize the loan as portable and offer it in installments, the loan is approved.