Open loans or payment delays can have negative consequences: namely when you plan to take out a new loan. All credit transactions of private households are registered by SCHUFA and can be viewed by future lenders. Mutuo Gruppe.de knows how to make your loan application a complete success.
As soon as you submit a personal-loan application in Germany, the bank will immediately start checking your creditworthiness and the possible risk of a payment default. Are you able to repay your loan? Are there open loans or promissory notes?
This is where SCHUFA, the Schutzgemeinschaft für allgemeine Kreditsicherung, comes in. It is Germany’s information centre for creditworthiness data on credit transactions of private households and records all reports from consumer-credit, leasing and credit-card commitments.
Consumer credit, leasing, credit cards
Have you taken out a personal loan or a lease in the past? Do you use one or more credit cards? Always be aware that SCHUFA records all information connected with this in its database, whether positive or negative. For a consumer-credit application this database provides comprehensive information about the borrower. Access to this information is limited to authorised members of the financial sector, the SCHUFA contractual partners.
What information does SCHUFA store?
SCHUFA stores your current commitments as well as those you entered into in the past. It also records whether you have met each of your payment obligations or not. In addition, SCHUFA provides information on loan applications and whether they were accepted or declined. On the basis of this information stored by SCHUFA, banks can reconstruct the entire history of your credit behaviour.
Loan application accepted?
The content of your SCHUFA history has a major influence on the bank’s decision to accept or decline your application. If your file shows payment arrears, for example, or if you have registered one and the same loan application with several banks, the risk of a refusal is quite high. A negative SCHUFA entry does not, however, necessarily mean that your loan enquiry will be declined.
Would you like to know which data SCHUFA has stored about you? No problem. On this SCHUFA page you can inspect the data stored about you at any time. Simply complete the request form. Processing usually takes two to three working days.
What the various SCHUFA features mean
– Score / feature 00: you have a loan and are behind with the payments
– Score / feature 01 and 02: you have a loan and have no problems with repayment
– Score / feature 03: slow payment, in most cases connected with reminders; negative; remains on SCHUFA for 3 years
– Score / feature 04: collection measures and/or enforcement proceedings; negative; remains on SCHUFA for 5 years
– Score / feature 05: partial or total loss for the lender; remains on SCHUFA for 5 years
– Credit-card feature 21: blocked credit card; negative; remains recorded for 5 years
– Credit-card feature 22: ongoing collection measures; negative; remains recorded for 5 years
– Credit-card feature 23: partial or total loss for the lender; remains in the database for 5 years
SCHUFA block:
In a debt settlement with insolvent customers, banks often agree a self-block with SCHUFA. This block remains in place until the customer has settled the debts and the credit institution has the block deleted.
No chance of a loan
As long as the following features are recorded in your SCHUFA database, no reputable lender will grant you a loan:
– Creditworthiness features 04/05
– Credit-card features 22/23
– SCHUFA block
A successful loan application with Mutuo Gruppe.de
As an authorised financial-services company, Mutuo Gruppe.de is authorised to carry out a credit check. Because we know the lending criteria of the respective banks well, we can tell you immediately
– whether your file contains the elements that increase your chances of being granted a loan or not
– which financial institution is suitable in light of your SCHUFA history in order to increase the chances of approval
Contact us now if you would like to submit a successful loan application.