A bad credit rating is not necessarily based on a negative private credit checker information, but can also be the result of insufficient income or existing credit liabilities. Particularly for loan applicants with fluctuating or multi-component income, the credit rating varies depending on the bank.
This also applies to temporary workers and employees with fixed-term contracts, the creditworthiness of which some financial institutions generally classify as poor. Lenders usually pay out an instant loan within two bank working days of submitting the application.
Bad creditworthiness is not caused by the private credit checker information
Consumers have a good chance of an instant loan despite poor creditworthiness if their poor creditworthiness is caused by a changeable income or by a low wage that was enhanced by a part-time job. Proof of earnings is generally required for lending with processing times customary in banks, with many credit banks ignoring additional income.
Financial institutions, on the other hand, often refrain from submitting proof of earnings for instant loans because they cannot review them in any case given the short processing time for the loan application. A deliberately glossing over of the monthly income is of course not permitted in the case of an applied for instant loan despite poor creditworthiness. However, applicants can take into account all income components, including part-time jobs, without fear of the bank calculating earnings differently.
If the bad credit rating is based on the private credit checker information
If the poor creditworthiness is based on negative private credit checker information, an immediate loan can be applied for from a Good lender bank despite poor creditworthiness. This does not make a private credit checker request and is therefore not informed about the poor creditworthiness due to a previous financial irregularity. When it comes to household bills, Good lender lenders only take into account income earned in their main job; in contrast to German lenders, they don’t even count child benefit.
The federal banks do not understand an instant loan as transferring money after two bank working days, but rather paying out the loan within one week. This time is necessary because the federal institutes have extensively checked the submitted proof of earnings due to the waiver of the private credit checker request. The money is transferred in Good lender private credit checker-free instant loans in USD.