“Even in difficult cases, we help you quickly, discreetly and unbureaucratically” – This is how similar dubious credit intermediaries advertise to customers. And those who find themselves in a financial shortage and are looking for a source of money often reach for every straw.
Especially since he urgently needs the cash injection, but does not get credit from his bank and can not or does not ask anyone for help in the circle of acquaintances. If the consumer believes in the full-bodied promise, a credit is within reach. A call or a few mouse clicks are enough – and the money is soon on the account.
The reality is rather different. Black sheep take advantage of the plight of those affected. However, they rarely provide loans. On the other hand, on closer inspection it is not that difficult to expose windy offers.
We have compiled seven common meshes of dubious credit intermediaries:
- 1 stitch # 1: Quick help even in the most difficult cases
- 1.1 Mesh # 2: Trustworthy Names and Reputable Websites
- 1.2 Mesh No. 3: Documents by cash on delivery
- 1.3 Mesh No. 4: Prepayments for expenses
- 1.4 stitch # 5: prepaid credit cards
- 1.5 Mesh No. 6: Home visits by the credit intermediary
- 1.6 # 7: Financial rehabilitation instead of credit
- 1.7 Editing
- 1.7.1 Recent articles by Redaktion ( Show all)
- 1.8 Similar posts
Mesh No. 1: Quick help even in the most difficult cases
If a credit intermediary works with quick and unbureaucratic emergency aid, the consumer should raise the alarm. Because a credit intermediary forgives itself no loans.
He merely composes a loan request and forwards it to financial institutions. On the other hand, whether a loan is granted or not is decided solely by the banks. The credit intermediary has no influence on that. However, a credit broker does not work for a thank you. If it comes to a loan, it becomes more expensive through the activity of the credit intermediary.
Great skepticism is also called when collateral supposedly play no role, a Schufa entry is meaningless and it is not an obstacle if the consumer has very little or no income. Behind such promises is usually only hot air.
Because practice shows that loans are never given without a sufficient credit rating. Of course, there are serious loans in which, for example, the Schufa is not tested. But they require a corresponding income. No lender lends his money to good luck. If loans are advertised even in hopeless cases, behind this scam is usually the intention to exploit the plight of those affected for their own purposes.
Mesh # 2: Trustworthy Names and Reputable Websites
Of course, black sheep want to win the trust of potential customers. That’s why they like to choose reputable names and make their websites very professional. Often, they also indicate that they belong to certain associations.
It is also popular to advertise with a license according to Article 34c of the Industrial Code. This approval, which the law by the way calls permission, is ultimately only a matter of formality. And it merely states that the credit intermediary has registered its activity. Statements about the integrity of the intermediary and the quality of its offers can not be derived from it.
The consumer should not be dazzled by the name, a chic website or a professional appearance with pretty stationery and nice giveaways. Instead, he should focus on the offers and contract terms.
Mesh No. 3: Documents by cash on delivery
Almost a classic is that the contract documents are sent by cash on delivery. The consumer is told that this is intended as a kind of protection for all involved. Often, the consumer is also informed that he is not taking any risk, because the COD charges are credited towards the cost of the credit.
In fact, however, it is generally the case that there are no contract documents in the envelope but only any application forms and advertising leaflets. Or in the envelope documents for a supposedly already approved in advance financial renovation, which the consumer has never requested. In any case, the COD charge is usually gone – and the consumer is one step closer to his credit.
Mesh No. 4: Advance payments for expenses
There is also widespread the fact that the consumer already has expenses before any credit agreement has even been concluded. In principle, it is the case that a credit intermediary is entitled to compensation for his activity. However, only when the loan has been approved and disbursed as a result of the brokering activity.
The amount of the agency fee, in turn, must have been previously agreed in writing and, in addition, also be shown again in the credit agreement. That’s the law.
Dubious credit intermediaries circumvent legal regulations by charging for alleged expenses in advance. If the expenses were recorded in advance in a written contract, they are proven to have arisen in the context of the credit intermediation and were they really necessary, they may be imposed within narrow limits.
Dubious credit intermediaries, however, like to expect expenses that are so inadmissible. This applies, for example, to packages that are incomprehensible at all. Or for displays that are not. These include, for example, the working time or the travel expenses of a sales representative – or also fees for an urgent processing.
The consumer should generally refrain from offers where he should make any advance payments. Because the chances of obtaining a loan do not increase. And most of the time the money is gone, without ever a credit comes off.
Mesh # 5: Prepaid Credit Cards
A slightly newer scam from dubious credit intermediaries is that the alleged loan application is linked to a prepaid credit card application. A prepaid credit card works on a credit card basis. The consumer must first deposit money into his credit card account in order to use this credit for credit card payments.
Frequently, the terms of the contract are such that the application for a credit intermediation requires the credit card to be ordered. If the consumer refuses to order the credit card, the credit intermediation can not be processed.
The consumer should keep away from such offers. As a rule, no credit agreement will come about. Instead, he only receives a credit card, which is sent to him by cash on delivery and for which a partly overpriced annual fee is due. So he has only additional expenses for a product that he actually neither wanted nor needs.
Mesh No. 6: Home visits of the credit intermediary
Dubious credit intermediaries like to make home visits. And at the meeting, they offer the consumer various other products. The range here ranges from insurance to funds and savings plans to home savings and other investments.
And while they make their products palatable, they regularly remind consumers that the bank needs collateral. The advertised product would be such a security.
If the consumer agrees to the offer, in most cases he has only one contract on his side, which increases his expenses even further. Whether he gets a loan, but still in the stars. In any case, the financial product neither increases the chances of obtaining credit nor is it suitable as collateral.
That would be the case at best, if after a certain period of time a considerable amount of credit has accumulated. In addition, the regular contributions to the financial product only further limit – and not hedge – the ability of the consumer to pay the monthly loan installments on time and properly.
Mesh No. 7: Financial rehabilitation instead of credit
Although the consumer actually wanted a loan, many a credit intermediary offers him instead a financial rehabilitation. This should bring the economic situation back in order and improved. In the course of the offered financial restructuring, the existing debts and liabilities are to be combined in one loan.
The existing contracts will be replaced, so that the consumer in the future only has to pay a loan installment. Often it is also offered to increase the amount required a bit, so not again immediately new holes.
The catch on the thing is only that dubious financial renovation offers gladly go along with horrendous additional costs. Thus, the consumer receives regular mail, which informs him about the processing status of his request. Confirmations of prior authorization or alleged pledges from banks are also included in this letter.
Before it can go on, however, the consumer has to transfer various processing fees. And in practice it often stays with these fees, because the financial rehabilitation comes just as little as another credit.
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Topic: 7 common meshes of dubious credit intermediaries
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Matthias Kumpertz, 38 years, financial advisor and Marlene Heuer, 46 years financial advisor, as well as Christian Gülcan, operator and editor of the website, write interesting facts, tips and advice on finance, capital, financing and banks. Guides, investments and financial plans for consumers and investors.