Maxda is your specialist for loans without a Schufa entry

This can't be true. "I'm not creditworthy." Have you heard this sentence from your local bank? Especially now, when you urgently need a loan because your car suddenly and without warning broke down? Or did your daughter beam with joy and tell you she's getting married this year? In a fancy venue? Everyone should be there, the whole extended family, sharing this unique moment with her and you. And now?

You sit at your bank as a loyal customer of many years and you start sweating. Once you missed paying a bill years ago and suddenly a rock is placed in your path. A Schufa entry that immediately worsened your scoring value. But you really don't want to disappoint your daughter. You need a car. And the person opposite you says coolly and curtly: "We can't help you with that, unfortunately."

We can. We do. And we want to.

If you're wondering how a loan without a Schufa entry can help you here, just ask us.

Make your daughter's dream come true. Do you see her beaming smile? Buy yourself a new car, get your child safely to school. Redeem an existing loan with us, restructure your debts. No matter what you use the MAXDA loan without Schufa for, this instant loan does not worsen your existing Schufa rating.

What does a loan without Schufa mean?

You know how it is. Prejudices form quickly and persist stubbornly. "A loan without Schufa only comes from loan sharks. With high interest rates. From predators who only want one thing — your money. No matter how. Keep your hands off."

Don't worry, the world moves on. A loan without Schufa is anything but unserious. On the contrary. We take you as a borrower and your individual situation seriously. We do check carefully whether you can repay the loan. We check quickly and discreetly. We also get information about you from Schufa. But not only that. We respond to you, your circumstances and your conditions personally.

How now? I thought there was a loan without Schufa involvement, you ask? Not entirely. "Loan without Schufa" means you receive from us a loan that is not entered with Schufa. Negative entries at Schufa arise quite quickly. Did you overdraw your checking account? Miss a mobile phone bill and not pay it? Bam. It happens. These negative entries are, however, deleted after a certain period; your Schufa scoring value recovers. If, for example, you plan to build a house and need a larger loan, a Schufa inquiry is usually requested. With a loan without Schufa you thus relieve your Schufa account.

What exactly is the Schufa?

What does Schufa actually do?

Why is Schufa needed at all? And why is it allowed to collect so much information about me? Do they sell my data? What does Schufa know about me? How long do the data remain stored? Don't we have data protection? A thousand questions buzz in your head? Do you feel trapped in the (data)net? Like a spider sits there and suddenly pounces in between? Messing up your purchase? Your plans?

Even if it may feel that way, the Schufa is not your enemy. It even helps you. You and those who rely on the fact that you can pay.

Schufa stands for "Schutzgemeinschaft für allgemeine Kreditsicherung" (Protection Association for General Credit Security). This institution is not governmental, as often assumed. It is a private credit bureau that collects and stores data about private individuals and companies. Data about payment behavior. The collected information is evaluated using a specific system and then passed on to credit institutions when they want to know whether you are able to repay requested loans.

Schufa receives information, for example, when you open an account at a bank. Have you ever ordered something and agreed on installment payments? Bought a mobile phone and signed a contract? That is also listed in your Schufa entry. As are entries from electricity providers, online retailers, telecommunications companies, insurers.

Around 9,000 contractual partners supply data to Schufa. You must always consent to this data transfer and storage in advance. Information is not simply collected and passed on about you behind your back. Often, however, you cannot avoid signing a consent declaration.

What data does Schufa collect?

Do you feel watched? Do you think a Schufa entry has made you "transparent"? Are you uneasy? Is Schufa all-knowing? Don't worry. Schufa does not know what you do for a living or how much you earn. Or earned. Schufa does not know your religious or political beliefs. Which clubs you belong to remains entirely your business. Whether you are married, separated, divorced, single, a single parent with one child, a father of five — Schufa doesn't care.

You probably won't receive a bouquet on your birthday, but Schufa knows your birthday. And in addition to your place of birth, your name, your address, it also knows where you used to live.

Contract partners provide Schufa with information about bank accounts, credit cards, leasing contracts, installment payments, loans and guarantees, mail-order contracts and accounts as well as telecommunications. The information in these areas is provided automatically. That means when you open a new checking account, Schufa learns about it. And records when and with whom.

Sometimes things happen faster than you think. Separation, divorce, suddenly things are tight financially. Only personal insolvency helps out of the mess. Such things do not remain secret; on the contrary, they become public. In addition to the information the contractual partners automatically provide to Schufa, the bureau collects and processes data from public sources. You therefore receive a negative Schufa entry if you are listed in a debtors' register of a local court or have submitted a sworn declaration of assets.

Why does Schufa help me?

Schufa determines your ability to pay from the data collected. Companies that enter into contracts with you, where you pay installments, want to know how your ability to pay stands. They query Schufa. By the way, tax authorities, police and enforcement officers also query it. Have you always repaid your loans reliably? Paid your electricity bills? Always transferred all lease payments on time? Great! Then your score value is top and you are a preferred borrower. Or have you experienced a special situation, like moving or personal difficulties such as a separation, and missed a bill? You intended to pay the reminder immediately but somehow forgot? That also goes into the Schufa list and changes your score value. Your "score" is your "score" at Schufa. This value is passed on by Schufa to companies. It indicates how likely it is that you will repay a loan on time.

What is the score value?

How does the score value work?

It's quite simple: the higher your score value, the better your creditworthiness. In other words, the easier it is for you to get an instant loan approved. This value consists of all entries at Schufa as well as general statistical surveys and experience. The scoring procedure is intended to provide a reliable forecast of the future based on generally collected experiences from the past. How exactly the score is calculated, Schufa does not reveal.

This is good for credit brokers, banks and lenders. They are to be protected from the risk that you might not be able to repay the loan in the worst case.

This is bad for you as a borrower. Because Schufa does not just evaluate your personal data, it also includes general data — industry-specific. It may be that you receive a different score for a loan inquiry to finance a car than for building a house.

However, Schufa only supplies the information. It is not the authority that approves or rejects your loan. Did you think that? That is wrong. Based on the Schufa report, banks, lenders and brokers then decide on the amount and disbursement of your loan.

When does an entry occur at Schufa?

Have you received a first reminder threatening an entry at Schufa?

Debt collection agencies and some mobile phone companies can be quite aggressive in their approach.

Don't let them unsettle you!

If you pay your bill within the payment period, Schufa does not learn about it. The same applies if the amount is still outstanding after the first reminder. Have you not paid after the second written reminder? That leads to an entry — provided at least four weeks have passed between the first and second reminder. The notification to Schufa may only be made if you were warned about this in one of the two reminders.

Do you believe the invoice is not justified and have lodged an objection? Good! Then an entry is not possible.

Be careful with statements!

Have you admitted that you overlooked the bill? And assured that you will pay it shortly or by a certain date? Have you agreed on installment payments? If you then still do not pay, Schufa will be notified.

The same applies if your contract was terminated without notice because you could not pay. Here too you must be informed in advance about the consequences. Have you received a judicial payment order? As soon as the claimant involves a court, that results in a negative Schufa entry.

What influences your Schufa score value?

So. There it is. Your Schufa score value. And you just shake your head? How is it possible that the value is much lower than you thought? Do two late payments make such a difference? Don't worry. Not every small reminder drags your value down. Do you lease a car? Great. The existence of leasing contracts, loans and checking accounts shows that banks trust you. If the bank has terminated your loan or initiated dunning procedures, however, that is negative for your score.

Sometimes life takes a wrong turn. Have you ever not paid attention, missed a bill and eventually found an enforcement order in your mailbox? If these become legally binding, they influence your future creditworthiness. Entries in public debtor registers and personal insolvency also reduce the Schufa value. In addition, information that at first glance has nothing to do with your creditworthiness is also used for the scoring calculation. It seems so. How often have you moved? That affects the calculation negatively. Schufa denies that it is decisive whether you live in a "good" or "bad" area. In individual cases, if the bureau has no further information about you, this is checked on request.

Did you just want to find out and made credit inquiries at various institutions? Very bad! Each individual inquiry is stored at Schufa and reduces your score value. Our tip: ask about credit conditions. These purely informational inquiries do not affect your creditworthiness.

By the way: with all that has been described — only about ten percent of all Schufa entries contain negative information; more than 90% are positive.

How does Schufa help you now?

Schufa keeps an overview for you. It stops you before you fall into over-indebtedness with a new loan. Whoever has a lot to pay sometimes loses a clear view of things. Or overestimates themselves. "I'll manage." Haven't you thought that before and then something didn't work out? For banks and credit providers only one thing counts: facts. They calculate whether you can repay a loan based on your income and previous payment obligations.

Why is there a Schufa inquiry at all?

Why do banks carry out a Schufa inquiry?

Have you ever lent your car to a friend? Admittedly: you were a bit relieved when the vehicle was returned to you intact, without scratches or dents. Right? Banks and lenders feel the same. They want to be sure that the money they lend will come back.

Banks are also legally obliged to check whether you can and want to repay a loan. The advantage with lending your car: you know the person you lent it to. You know that person can drive and often how they drive — calmly, safely. Banks lack that kind of information. They don't know who you are or how you have handled money so far.

Before you enter into a contract where you pay monthly, like a mobile phone contract or a loan contract, your creditworthiness is checked. Practically always.

The Schufa report is one way to get an impression of your creditworthiness. One way. Don't worry. Reputable providers will always gather further information. They also want to know what you regularly earn and receive, as well as how high your expenses are.

Criticism of Schufa?

Have you applied for an instant loan at your bank and it was rejected? Ask for the reasons. Not infrequently, erroneous Schufa entries are found. The basis for the bank's decision to grant you a loan can therefore be wrong. Meanwhile, Schufa's approach is viewed critically — not only by consumer protection organizations, lawyers and data protection advocates. How the individual score value is composed and how it is determined remains Schufa's secret. Whether the data Schufa receives from contractual partners about you is correct is not checked. Only when you yourself point out incorrect entries will Schufa ask and correct them.

How creditworthy am I?

Did you know that you can find out once a year for free what Schufa has stored about you? This is legally required. Use it! Clarify inconsistencies and have them corrected. Now! Why now? If you want to apply for a loan, this is precious time that is unnecessarily wasted. Don't get gray hairs because the review of your loan request takes unnecessarily long. And use the knowledge of your score value for the discussion about the desired loan.

What then happens to Schufa entries?

Can my Schufa entries be deleted?

Made a mistake once and pay for it for the rest of your life. Do you feel that way? Don't worry! It's not that bad. Your Schufa score value changes continuously. When new data are stored, a new calculation takes place. If the Schufa calculation models no longer provide reliable forecasts, they are revised. Then Schufa recalculates your value. When old data are deleted, an adjustment also takes place.

When are entries deleted? Can I influence it? Speed it up? Which data may be stored for how long is governed by law. Credit inquiries remain after the request for one year. Have you repaid your loan? Great! That entry is deleted three years later. The same applies to your customer account data with online and mail-order retailers, your data from debtor registers and information if you have fallen into dunning proceedings or did not settle claims. Did you name a guarantor to obtain a loan? Once it has been repaid, the entry is deleted. Has your checking account been closed? Returned your credit card? This information is changed at Schufa immediately.

Should be. Occasionally old entries are overlooked and not deleted. Or there is information listed that is incorrect. Check your history and your data at Schufa. Have your data corrected, deleted or blocked. That works? you ask? Yes! It does. However, correct entries cannot be removed before the deadlines expire.

Why a loan without Schufa at all?

Do you know it too? Murphy's Law tends to strike when you least need it. Things generally break multiple times. Often one after the other. First the washing machine, then the refrigerator and suddenly the TV only shows a pink area instead of colorful lively pictures. The car repair is much more expensive than expected. And then your daughter wants to get married. Too much all at once. Or can you redeem another, more expensive loan? Do you want to restructure?

There are three reasons why a loan without a Schufa entry is necessary:

1. You are denied a loan by your local bank due to an existing negative score value.
2. A smaller loan amount should not affect your score value because you plan to apply for a larger loan in the foreseeable future.
3. You are self-employed or work as a freelancer. Even if your creditworthiness is excellent, the local bank often balks when you apply for a loan. The risk that you might suddenly be unable to pay is too great for the bank.

How do I obtain a loan without Schufa?

"Keep your hands off!", "Those are loan sharks", "They just want your money and don't help you." Have you also had these or similar warnings from friends feel like a splash of cold water in your face? Yes, be skeptical. Review different offers. Do not decide under pressure or hastily. Even if it's tight: take your time. Use comparison portals, read reviews and recommendations. That way you can form your own picture of different providers and brokers for a loan without Schufa.

Inform yourself about the respective requirements. If you meet them, in most cases you can submit your loan application online. Quite relaxed. Are you hesitant? "What if I make a mistake? Enter something wrong?" Don't worry.

The process is very simple:

You provide your personal data as a borrower, enter the loan amount you need and your desired loan term. Add contact details and your current residence. Then indicate what profession you work in, where and since when. How high is your monthly income? Lenders and brokers also want information about your spouse. Submit the details and after a few days the broker will contact you. We do that. And we also offer you a free consultation. Together we find the best solution for you. You will then receive the loan application from us by email and post. Fill it out, sign it, add a copy of your latest payslip and send everything back to us. So simple. Once the documents and your information are checked and the application is approved, we promptly arrange the disbursement and you receive your loan.

Why a loan without Schufa from Maxda?

Which loan without Schufa is reputable?

We want you to feel secure. That only works if we are secure too. We do not promise the moon or astonishingly low interest rates. We do not hide our costs.

• Yes, we charge a placement fee. It applies when you conclude a contract with us. Only then!

• Are you asked to pay something in advance just to receive an offer? Avoid it. If the provider also wants to charge you cash-on-delivery for sending documents, it is a clear sign of an unserious offer.

• Overpriced hotline costs for telephone advice? Our hotline is reachable via a regular landline number.

• "Wow! Only 2% interest. That's exactly what I was looking for." Be cautious with very low interest offers! Admittedly, such offers sound tempting. And it's exactly what you need now. Often the seemingly cheap instant loan offer turns out to be expensive. Unscrupulous providers like to hide consulting and administration costs behind low interest rates and conceal the effective annual interest rate. Only that one shows you the total annual cost of the loan in percent.

• Be cautious when the opposite is the case: very high interest rates signal that the provider is securing itself heavily against your potential inability to pay.

• Only the loan — pure and simple: with us a loan without Schufa is not necessarily tied to the sale of insurance contracts. If such a product is unconditionally pushed on you as an add-on, be alert.

Safety first

Don't be swayed by nicely packaged offers and wrapped up in promising words. This is especially true if you are pressured that the offer only applies if you decide immediately. In the end you are more likely to receive an invoice than a loan. And if you don't pay, a collection agency is quickly engaged. The bill shoots up. So beware of such dubious offers.

Be certain: we always present the conditions of our Maxda loan without Schufa transparently and comprehensibly.

Loan without Schufa from Maxda

"You can certainly get a loan without Schufa from us. You will understand that we charge higher interest for it because we take on a higher risk." Have you received such an offer? Hands off! Even for a loan, interest rates are within a certain range similar to loans with a Schufa entry. We broker an instant loan for you with the lowest possible interest rates tailored to you. This interest rate does not change during the term. Maxda loans are available from an effective annual interest rate of 3.99%. The individual interest rate depends on our assessment of how solvent and willing to pay you are.

Do you sweat thinking about how long it takes to have a loan approved? Your car has a transmission failure, nothing works and you need a new vehicle as quickly as possible. Now? Immediately? Because you live in a rural area and need to take your child to a distant school? Because you have to drive your mother-in-law, who is less mobile, to the doctor every day? Don't wait long; we will help you quickly. Already a few days after checking whether the requested loan can be approved, you will find out if it works. And if it's urgent — contact us! We will find a solution.

Your satisfaction is our capital. Strangling you with repayments until the end of the term? Not with us. With us you are not bound to fixed interest agreements and payments. Of course, variable special repayments can be made free of charge. Are you on sick leave longer than expected and temporarily receiving less money? Talk to us. Together we will find a way; a temporary suspension of installment payments is conceivable.

Can I also get a loan without Schufa?

What prerequisites must I meet for a loan without Schufa?

Anyone who wants to apply for a loan must be of legal age. Basic requirement for borrowers. As a rule, you should also reside in Germany, i.e. be registered here with your primary residence. Do you have a checking account? Great. Next requirement fulfilled. The checking account is necessary so we can transfer the loan amount to you if the loan is approved. Your repayment installments are also debited from this account. These are the general requirements for a loan. Some providers or brokers also want to be sure that you are largely healthy and can fully repay your installments. Therefore proof that you are not seriously ill may sometimes be required.

Have you been employed, a worker or a civil servant for at least one year? Is your regular monthly income at least €1,520? Are you between 30 and 65 years old? Then you meet the additional requirements to apply for a loan without Schufa at Maxda. If you earn less or are younger than 30 or older than 65, a loan without Schufa is still conceivable if someone guarantees for you. We review each application individually and find a solution with you.

You trust us, we trust you. Nevertheless, we are obliged to check your information. False statements will not get you to your goal.

Which documents do I need?

To apply for a loan without Schufa, you don't need much. Copy your latest pay slip. It must be clearly legible. Attach this to the loan request.

It is useful to have an overview of your monthly fixed costs ready. So make a list in advance of what you spend monthly on rent, electricity, gas, insurance and other payment obligations such as maintenance payments. However, this is not always required.

How does a loan without Schufa work?

Where does the money come from?

We are open and honest about this: from abroad. As a rule. The loan without Schufa is also known as a "Swiss loan." In Switzerland there is no institution like Schufa. German banks do not grant loans without taking into account information from Schufa and other credit bureaus. For your loan without Schufa we work with foreign banks. They are usually located in Switzerland and Liechtenstein. Even if they waive access to the Schufa file, they still check your creditworthiness.

How much loan can I get without Schufa?

We also protect ourselves and limit our risk. We check your conditions and rely on you paying the installments on time until the agreed loan term expires. Sometimes life plays a trick. Imagine: suddenly your company goes bankrupt. Your job is gone. Or you fall ill. Not severely, but your doctor suspects something longer-term. Then you are out of work and regular payments must be suspended. Yes, these are worst-case scenarios and we hope none of that happens. We must consider it. Therefore we limit the amount for our loan without Schufa to a maximum of €7,500. For that we also waive certain securities. You do not have to assign a life insurance policy to the lender. Nor deposit the vehicle registration document. What you use the money for is entirely your business. You receive the agreed loan amount from us. We do not want to know what it is intended for.

How is repayment made?

How do you want to pay? Usually we agree on a monthly amount that is debited from your account. This remains the same for the agreed repayment period. How long? You propose a term, we check whether it fits the loan amount and your repayment conditions. The amount of the installment consists of the repayment portion and the interest due.

Did you inherit money and want to repay your loan immediately? Right away? No problem! Special repayments are of course possible. The same applies to an early repayment. Just talk to us.

When will I receive the loan approval?

You need the loan quickly. We process your request fast. We promise to review your documents immediately. If they are complete, legible and the online form was filled out correctly, we generally need 2–4 days to review your loan request. We send you the offer before we forward your loan application to the lender. The sooner you review and return it to us, the sooner the disbursement and the faster you receive your money.

How do I apply for a loan without Schufa?

How do you get the Maxda loan without Schufa? Simply click the online form, fill it out and send it to us with one click. We then check with our domestic and foreign banking partners which is the most favorable offer for you as a borrower. Next step? We send you this offer, you check whether it suits you.