Loan with guarantor despite negative

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Frequently, loan seekers think that their hopes for a loan are in vain should your scoring at the protection association for general loan security (Schufa) be poor. Often foreign alternatives are sought, which are far too expensive. Optionally, family members are asked for the money they can not afford to give up, but are ready to jump in because they know it’s necessary. There is a much better way to do that: the loan with guarantor despite negative Schufa. We would like to use these lines to explain to you exactly what is behind it.

Loan with guarantor despite negative


About the guarantor

Since in many explanations the second borrower is mixed with the guarantor, it is worth taking a close look at what exactly the guarantor actually is. He does not count – unlike the second borrower – to the persons applying for the loan. In a normal repayment history of the loan he also has no payment obligations. The guarantor will only jump in and pay if the actual borrower does not know this anymore.

Incidentally, when precisely the guarantor’s payment obligations begin may differ from one credit agreement to another. Some banks allow the guarantor to go in as soon as a rate has not been properly paid. For other financial institutions, this must pay only once two full installments could not be transferred. In general, here is the limit. If you want to push it further back, you have to address this specifically to the bank. Most financial institutions have an open ear, but usually only up to three months.

Loan with guarantor despite negative 

More than a guarantor

If you can not find a guarantor who has the resources to cover your entire loan and / or is unwilling to do so, you can also introduce more than one guarantor to the bank. The classic example is mother and father, who vouch for their child together. But it can also be several friends or other acquaintances.

Incidentally, legal persons can also act as guarantors. Companies or, for example, other banks can also be responsible for the credit.

Loan with guarantor despite negative

The creditworthiness of the guarantor must be right

Presumably, ask yourself: What qualities does the guarantor have to bring along – apart from being able to pay off the loan completely? Basically he has to compensate for your weaknesses. If you have a negative scoring at the Schufa, the guarantor should not have any problems there.

Moreover, every guarantor should have an excellent credit rating, ie credit repayment ability. It is important to the banks that they can not only repay the loan, it should not cause serious financial difficulties.

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