Loan without Schufa - you need to know that

The SIC Schuldner-Insolvenz-Centrum e. V. accompanies you every step of the way to your loan. Completely possible without Schufa information.

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Caution trap: credit without credit bureau

For indebted people, the self-employed and entrepreneurs, the offer of obtaining a loan without a Schufa report offers a great opportunity. But it is only worth taking out a loan in very rare exceptional cases despite a Schufa entry and a bad Schufa score.

A bad credit rating means high "usurious interest rates"

Banks and other loan providers charge higher interest rates the worse the credit rating. Anyone who wants to take out a loan should therefore agree to a Schufa report in order to get the best possible conditions.

It makes sense to do a loan comparison before making a loan request and you choose the offer that has the most favorable conditions for you. In general, these are worse if you only have a small amount of credit.

Debt restructuring is not a solution

Dubious collection agencies and some creditors often urge you to take out an expensive loan without Credit Bureau to settle the outstanding claims.

A really good idea for creditors, but a very bad idea for debtors. Because they are already unable to meet all demands.


The fact is that if you have a bad credit rating/Schufa, you only get money if you are willing to pay high interest rates. Let's say you decide to take out a loan of enough money to cover all the debts. >> The two options described in the next section are available here.

As a rule, two constellations (options) are possible:

Option 1:

Due to the high interest rates, you have to pay more every month than you would have to pay for all the claims combined. It quickly becomes apparent that you are incapable of doing this. Although you have paid off old debts, you are now accumulating new debts that are higher than the previous ones. Who gives you the guarantee that you will be able to repay the fixed loan installments in the future?

Additional risk factors to consider:

Rising inflation, eventual job loss, possible illness, an unforeseen divorce... A potentially high risk with the added burden of new debt.


Option 2:

You agree on an extremely low monthly installment payment. However, due to the amount of interest, this means that you can hardly repay anything from your loan. The loan has a very long term. Therefore, of course, you have to pay interest for much longer.


Option 2 is particularly tricky as it appears very attractive. You only have to pay a small amount per month, which relieves you noticeably. But the debt is hardly diminishing. With this option, too, it is very important to consider whether you can repay these loans.

Why personal bankruptcy is often the best solution here

You have a bad credit rating, so to speak, bad credit bureau and because of the low credit rating you only get a loan on bad terms. As a rule, you have to pay less every month than before, but 99.9% more than the amount that is above the garnishment exemption. Banks and credit institutions do not lend money to help you, but because they want to and have to earn money from it. This is the main business of any bank.


Example: A debtor has a debt of EUR 50,000, which he is paying off with a loan of which he is taking out 9.5%. So far, he should raise 800 euros a month for the creditors. He “only” has to pay 450 euros a month for the loan in order to be debt-free after a very long 22 years. With this solution, he pays almost 71,000 euros in interest. A nice credit for the lender and bank.


The married debtor has 1 child and earns 2,300.00 euros net. Of this, EUR 2,223.87 cannot be seized. If he registers personal bankruptcy, he only has to pay 76.13 euros per month (as of attachment table § 850c paragraph 2a ZPO, 2/2023). After a maximum of 3 years he is debt-free. WITHOUT DEBT! WITHOUT Fear & Forgiveness…

Visit a debt counselor instead of a loan without Schufa

Logically, collection agencies and creditors do not like it when you choose the path to insolvency. Debt collectors in particular like to give the impression that they are advising you as a friend. First of all, you will be happy if your "friend from debt collection" gives you the tip to take out a loan with or without Schufa. There are also many debt collection agencies that offer you comparisons that you can often no longer pay in the end. It feels almost like you're out of debt.


We at the Schuldner-Insolvenz-Centrum e. So you can potentially be debt-free after only a maximum of 36 months.


The way out of the debt trap cannot be new debt or debt restructuring. Every payment you make must reduce your debt. Raising funds on interest for decades is absolutely not a solution to your debt problem.


ALL necessary downloads & forms on the subject of insolvency can be found here:

Seizure table, insolvency checklist, record sheet, budget

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Receive professional care with heart during your insolvency proceedings.

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Read also: New Schufa regulation 2023

New Schufa regulation since March 2023 - the most important things at a glance!

Shortened Schufa deletion period after residual debt discharge since March 28th, 2023 and is still in 2024.


According to Schufa's announcement, the data of those affected will in future only be stored for six months after the end of a private insolvency. This is Schufa's reaction to a ruling by the European Court of Justice (ECJ) that is currently being processed.



>> New Schufa regulation in 2024
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