An instant loan for personal bankruptcy is a credit option to get a loan as an insolvent debtor. This loan option is not necessarily risk-free and problem-free. If you get it wrong, you may not be able to repay the loan properly, you risk being released from debt and possibly even deprived of your liberty.
Immediate credit for personal bankruptcy – this is particularly important
An instant loan for personal bankruptcy is not an everyday loan. It is mostly advertised by foreign providers and credit intermediaries. Not all of these offers can be confirmed as reputable loan offers. People in private bankruptcy are de facto penniless. Your attachable income is divided among the bankruptcy creditors. There are no valuable real assets or other monetary collateral. The debtor has only the bare essentials to survive.
In this situation, hardly any reputable lender grants a loan. As soon as the bankruptcy is known, the loan application is rejected. It is no wonder that many unscrupulous traders are up to mischief with these loans without Schufa. In principle, all offers that require advance payment should be avoided. No less dubious is offered in which savings contracts or life insurance contracts are initially to be concluded.
Silence can have dire consequences
It becomes criminal when an intermediary suggests not to disclose personal bankruptcy. In this case, he really “only” tries to earn the commission. But not to mention personal bankruptcy is bad advice. The applicant alone bears the risk. It is his legal obligation to report personal bankruptcy without being asked. It is not a requirement to ask for it in the loan application. Reputable providers of instant credit for personal bankruptcy know the difficult financial requirements and – quite rightly – expect a truthful answer.
If the loan agreement is concluded without knowledge of credit-relevant information, it can have serious consequences. If the repayment does not go smoothly, the borrower is already in jail with one foot. The silence of personal bankruptcy is definitely credit fraud. Fraud can be punished with a fine or imprisonment of up to five years.
As an undesirable “bonus”, there is also trouble with the debt relief after the credit fraud procedure. The fraud is a legal reason for bankruptcy creditors to refuse to discharge the debt.
Avoid problems and difficulties
Basically, it is always the cheapest and most problem-free to do without loans altogether. If this is not possible, the borrowing should at least take place within the framework of the legal regulations. This includes an honest loan application, in which all the facts are given for use in the court. Honesty in the information above all protects the borrower from unpleasant consequences.
Nobody can expect immediate credit for personal bankruptcy at no cost. The risk of total loss is astronomical for the lender. The risk premiums and additional contract costs are peppered accordingly. Only those who are sure that they can shoulder the monthly burden permanently should conclude the contract.