Bad credit rating | Lack of credit

Lack of creditworthiness

Lack of creditworthiness

Therefore, the new vehicle is not allowed! The monthly income is correct, the price of the desired car is in the range – and yet the house bank rejects the loan application. Almost every time you can assume that the credit rating, ie the credit rating, is the main reason for the rejection. In addition to the monthly cash flow, willingness to pay is of great importance for creditworthiness.

This means that the creditworthiness indicates how the borrower accepts them by paying for his bills. So everyone who is warned again and again, in a much worse position than someone who always pays his bill in time. We owe the fact that the credit institutes are aware of this fact to the various credit reporting agencies in Germany, which record this data and forward it on appropriate occasion (eg credit).

In doing so, the credit bureaus strictly adhere to the applicable data protection regulations and only publish the information relevant to the assessment of the creditworthiness. Not only for credit institutions, but also for many other companies involved in payment transactions such as mail order or credit card companies, creditworthiness is important.

These are also associated with the credit agencies, so that too loose payment behavior towards these companies also has an impact on the overall credit rating – and thus influences whether you get a loan from a house bank or not. For the credit rating, the individual overall impression is irrelevant. Because credit is solely a statistic and is based on assumptions: “If the borrower has always paid his claims on time in the future:

To what extent is it possible that he will always serve the new loan on time and in full? “If you have a bad hand here, you do not even have to start looking at the small bank employee, your appearance is unimportant, only the number counts, and good and bad are not always a matter of opinion, not just in terms of credit quality.

Credit rating for a loan

Credit rating for a loan

Accordingly, BuyNer also checks whether a credit rating for a loan is sufficient. For example, if you have a car loan of EUR 10000 that can pay off in no time, the house bank can lower its finger, even though the same house bank has granted the loan amount for the new mobile beyond EUR 500.

Our recommendation: Maintaining a good credit rating is generally not that difficult and is in no way associated with a high salary or a large account. It is about always paying bills of exchange and other receivables on time so that lending or financing is no obstacle for credit institutions and mail order companies.

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