Money difficulties arising from objective reasons like illness or loss of a workplace are the circumstances that can lead to late payments of credits and spoiled history of credit. If earlier it was possible to receive money in 10-15 minutes just having a passport, now the creditor will pay attention to your registration, earnings, marital status, job, and, of course, reputation. In deciding whether to grant a loan to a potential client, the records in a credit bureau play a significant role.
Data are stored for ten years, and if you have delayed one of the debts, then such records will be displayed in your report. Almost all the organizations providing financial and credit services can review these data.
Is It Feasible to Find a Bank That Does Not Check the History of Credits?
Absolutely all banks check the reputation of their borrowers-to-be. In their field, this process is called scoring when issuing long term installment loans. If you are looking for a list of big fiscal establishments that give loans to their clients with no checking of credit history, you will hardly find one.
For an institution to familiarize itself with the reputation of the borrower, the written consent of the second is required. One may refuse to give his or her consent. However, such a simple way can only lead to the fact that the bank will decline this application until the potential borrower provides a reasonable explanation for this refusal.
If a potential client carefully hides his or her credit history, then there is something he does not want banks to know. Specifying this in your request, you will undoubtedly receive a refusal from the bank.
Bad Credit History: How to Overcome It and Get a Loan?
Making such a request to large institutions is a waste of time. It is better to pay attention to the young banks which are just beginning to build up their clientele and form a loan portfolio.
Besides, you can count on a small amount of money using express lending. The most striking example is the money that is given out in shopping centers. However, this loan is targeted. That is, they give it to you to buy electronics, furniture, etc.
A more realistic chance is to apply for a credit card online. As a rule, banks engaged in issuing credit cards via the Internet are more loyal to their customers than similar organizations. You can also contact private lenders who give money from their private savings. One may also find a credit donor who agrees to issue your debt to yourself at a certain percentage. Naturally, you will pay the debt to the bank.
Choose those companies that are most loyal to their potential customers. As a rule, these are small organizations that are ready to compensate themselves for their possible risks with the help of high-interest rates. Also, all your previous debts should be closed. Even the most loyal bank will not approve another loan with current heavy debts.