Monthly Archives: July 2019

Small loan for Christmas gifts until Christmas

Where can I find a small loan for Christmas presents?

Where can I find a small loan for Christmas presents?

Just before Christmas, the money can ever be scarce. You do not want to disappoint your loved ones, you care deeply about making these people happy.
Also this year should be under the Christmas tree a few gifts.
Maybe you have already made the Christmas gift purchases for the family and friends.
And the Christmas shopping has already left a big hole in your wallet?
Or you want to escape the cold season and finance a holiday on the beach?
After all, you hunched hard all year long. A look at your bank statements, however, hint at bad. The Christmas bonus is not there or worse, it was abolished. Because of that Christmas?

  • At which bank can I still get a small Christmas loan on time?
  • Where can I quickly make money before Christmas?
  • How do I best finance the Christmas present?
  • Who can lend me money until Christmas?

Quickly get an online Christmas loan

Quickly get an online Christmas loan

With this loan provider, you can request a free & no-obligation loan offer before Christmas:Even if you have a financial shortage only in the short term, you do without a credit line.
Do not overdraw your checking account with an overdraft! In order not to pay too much credit interest, you should not now take out a credit line as a Christmas loan.
An online microcredit is usually cheaper for a Christmas present than a credit line.
When borrowing, however, pay attention to the amount of the effective interest rate and the repayment terms.
A mini loan for Christmas gifts is available from 500 usd.
Precondition for the small loan is a regular income, a fixed employment relationship and proof of the creditworthiness of the borrower, this is checked by a credit bureau query.
The Christmas loan can be applied for on the internet as an on-line loan without any problems. To be financially flexible, it is advisable to apply for the loan amount rather higher than too low.

Christmas credit despite negative credit bureau

Christmas credit despite negative credit bureau

If there are negative entries, there is the possibility of taking out a American loan (credit bureau-free credit). But this is considerably more expensive than the small loan with credit bureau.

Trucredit certificates and trucredit score statement

Online platform that brings together private investors and loan seekers

How does the Trucredit marketplace work?

The credit marketplace Trucredit is an online platform that brings together private investors and loan seekers. Credit seekers submit credit applications, with credit applicants individually setting the loan amount and repayment term. Private investors select from the loan applications those projects in which they can invest from a minimum of 25 USD. Trucredit promises potential borrowers high chances of success on loan financing and offers attractive returns to private investors.

Which mandatory information is necessary at Trucredit?Which mandatory information is necessary at Trucredit?

The obligatory details of the borrower include identity-relevant data such as name, address and date of birth, which must be proven either by an identity card or a passport including a current confirmation of registration. The proof of identity is mandatory before the desired loan project can be presented.

Certificates at Trucredit

Certificates at Trucredit

Theoretically, loan seekers have the opportunity to present their loan project via Trucredit without certificates. However, as certificates are in practice considered to be important evidence of the creditworthiness of creditors and are thus a basis for decision-making for the project selection of investors, their presence demonstrably increases the probability of success of the loan application. Trucredit makes it possible for each borrower to use the offered certificates for free and publish them with the loan application. In addition to the obligatory “Ident-Check”, Trucredit offers credit seekers the “AIS Score”, “CEG Score”, “Credit bureau Score”, “Budget Statement”, “Employer Consultation” and “Car Value” certificates free of charge. The certificates have a validity period of three months with the exception of the valid three-year proof of identity.

1. “Ident check” at Trucredit

The identity check proves to be indispensable for proving the identity of the borrower. It aims to check the accuracy of the personal information and determine whether the borrower is actually the person he claims to be. Borrowers can use this identification with either Post-Ident or Online-Ident methods. This identity certificate can be used within the three-year validity period for each credit application that has been placed. The Ident-Check is a prerequisite for all other certificates, which are only published with the consent of the borrower.

2. What is the “AIS Score” at Trucredit?

Behind the “AIS Score” (Arvato-Infoscore) lies the current credit rating of the prospective customer by arvato infascore GmbH. In the form of a punctual value between “232” and “654”, this score predicts the likelihood of the borrower repaying the loan properly. While a score of “654” qualifies the fulfillment probability as high, at a value of “232” the likelihood of the borrower meeting his obligations is considered low. If the values ​​given are in the single-digit range, such as “0” and “1”, this means that it is currently not feasible for the credit seeker concerned to calculate the score value. The assessment includes past data from the daily consumer behavior of more than 7.8 million consumers. This information is used to draw conclusions about current and future payment behavior.

3. What does “CEG Score” mean at Trucredit?

The CEG score of the credit bureau Creditreform reflects the loan default probability for the loan seeker over a period of 12 months. The relevant calculation basis is not only the personal debtor behavior of the loan seeker. Rather, the debtor behavior of representative groups and cross-industry data are taken into account. The determined CEG score is displayed in color in green, yellow or red based on a traffic light. While there are no negative features in green and the likelihood of default is only half of the nationwide average, the red level indicates existing negative features. The traffic light color yellow certifies the loan seeker a double the probability of default compared to the national average.

4. The “Credit bureau Score” at Trucredit

The Credit bureau Score enjoys particular significance in the credit sector, especially as the Credit bureau headquartered in Wiesbaden is considered the market leader among the German credit reference agencies due to its data density. The exact calculation of this score value is guarded by Credit bureau as a trade secret. However, it is known that in addition to general personal data relevant information on previous business behavior in connection with loans, checking accounts, credit cards, mobile phone contracts and mail order accounts and judicial enforcement measures and insolvency proceedings are taken into account. The Credit bureau score calculated using mathematical methods serves as an indicator of future payment behavior as a borrower. It is given as a point value and provides information about the creditworthiness of the person concerned. The higher the Credit bureau score, the higher the likelihood that the borrower will properly meet his payment obligations. By contrast, people with a low Credit bureau score are considered unworthy of credit and are usually rejected by banks as borrowers.

5. What does the “Budget Statement” at Trucredit mean?

With the “Budget Statement” certificate, the prospect will have the opportunity to have their available household budget reviewed by a bank via Trucredit. The calculation is based on a comparison of income and expenditure. Bank account statements and salary statements of the loan applicant, which are supplemented by lump sums of the banks, function as the numerical basis for the assessment.

6. “Employer Consultation” at Trucredit

The “Employer Consultation” certificate makes it possible to prove the employment status of the loan seeker by consulting the employer. With an anonymous call, it is clarified whether the prospective loan applicant is known at the workplace and can be reached there by telephone.

7. What is the purpose of the “car value” at Trucredit?

The purpose of the “car value” certificate is to determine the current dealer purchase value of that motor vehicle which the borrower can offer the lender as collateral for providing the loan amount. Trucredit commissions an objective cooperation partner with the evaluation. In the course of the transfer by way of security, the vehicle registration document is to be handed over to the Trucredit platform. The borrower can continue to use the vehicle. However, he is prohibited from selling or exchanging the same during the term of the loan.

Trucredit Score – Credit Information

Trucredit Score - Credit Information

The available credit information is not limited to the listed certificates. Trucredit developed its own credit scoring scheme with a graduated rating system, which provides for gradual categorization of credit seekers into eight different scoring classes. With the so-called Trucredit score, the individual creditworthiness of the loan seeker is recorded in a single value. The prospective loaner is ranked AAA, AA, A, B, C, D, E or X depending on his personal score, with the AAA scoring class standing for highest credit and the X class representing the lower end of the scale. Loan seekers have the advantage of being able to represent their own creditworthiness comprehensibly with the Trucredit score. This gives them the opportunity to convince potential private investors of their trustworthiness as a borrower. Using the Trucredit score, lenders can analyze the attractiveness of individual loan projects as investment forms and make an informed investment decision. In addition, the interest rate depends on the Trucredit score of the respective borrower.
The Trucredit Score is composed of different external and internal data. On the one hand, facts from external sources are processed, which contain credit-relevant information from the credit reference agencies Credit bureau and Creditreform as well as the arvato infascore GmbH. On the other hand Trucredit considers in the calculation own information such as the application data and the past payment behavior of the prospective customer as well as the peculiarities of the respective credit project and any collateral