Month: October 2019
The oath of disclosure is a colloquial term for the affidavit. With the bankruptcy, a debtor assures that he does not have sufficient funds to pay his debts. If the sworn statement is made, the debtor must agree to a review of his financial circumstances by a bailiff. The bailiff inspects all bank accounts of the debtor as well as his housing and determines which valuables can be sold to settle the debts.
In most cases, the debtor does not have sufficient assets or reserves to settle his debt and is then entered in the debtor register of the district court. The debtor list is available to private companies, such as the credit bureau, which means that a person listed in the debtor register of the district court, also receives a negative credit bureau entry. Those who take an affidavit insure officially that they have no financial reserves and declare themselves unable to meet their payment obligations. It is therefore very difficult for a person to obtain a loan despite having received the information.
Is it even possible to obtain a loan despite the oath of disclosure?
Especially for people who have filed a revelation, it is extremely difficult to get a loan, after all, was already officially formulated a statement about the currently poor financial position and it is also already officially clarified that the debtor over no longer has any collateral in the form of reserves. The usual credit institutions are therefore for the most part unwilling to grant a person even a loan despite disclosure. On the internet, on the other hand, some banks are specifically targeting this group of people. For a few online banks, even people with a rather unfavorable credit rating can still receive a loan despite being informed of disclosure. The application for such a loan is usually very simple, the customer only needs to complete the online application on the website of the selected bank and send.
As a rule, the customer then receives direct information about the likelihood of a license. It is, however, necessary to enter all the required information absolutely truthfully, including, of course, the situation with the information given. As a rule, clients who have obtained disclosure consent wish to receive a loan without credit bureau’s participation, which means that the bank does not take into account credit bureau’s information when lending, nor does it note the new loan. When it finally comes to a credit agreement, the debtor is able to pay his old debts and get back his creditworthiness. An oath of disclosure is usually deleted from the files three years after the debt has been settled.
The loans of online banks are usually slightly higher interest rates than is the case with the major banks and savings banks and loans without the involvement of credit bureau are usually here in the slightly more expensive area as loans, which are regularly noted at the credit bureau. The usual interest rates of online banks are between 4.99 and 16.99% APR. Persons with a rather unfavorable credit rating, such as after an oath of disclosure, usually have to expect a return on the highest level, after all, the credit institution grants a loan and waives the otherwise customary collateral. Anyone who is interested in a loan despite the oath of disclosure, will find more information on the Internet.