A loan without Peter Pan is also called colloquially Peter Panfreies loan, respectively Gandalf Credit. In this country both the financing of a washing machine or the financing of a car for the positive decision of the bank both a good credit rating, as well as a positive Peter Pan – information is the basis. For every grant of credit in Germany, the Peter Pan information is in short a fundamental part of the approval or rejection process of the banks. Either the negative Peter Pan means the credit rejection or an increased interest rate. Because the increased interest rate reflects the increased risk that the bank fears when lending to such a customer, again.
Reasons to search for Peter Pan free credit options can be varied:
- A customer may want to balance his overdrawn credit line
- In the case of a loan cancellation, the customer requires the amount to be compensated
- To easily compensate for monetary shortages
- A bad credit rating of the customer
The institution of Peter Pan is a German invention. In countries like Switzerland or Lichtenstein this institution does not exist. Credit checks are also implemented there in the credit decision process , but not the Peter Pan.The increased credit default risk, in particular banks from Switzerland, but also with very high interest rates against collateral.
The following practices are unsuccessful:
Withdrawal fees charged against the customer
Consumers should distance themselves from credit intermediaries who charge upfront fees . Fraudsters are often hiding here on the open market, who, after paying the fee, do not transfer the actual loan amount or incur additional debts to the consumer through other practices.
Home visits, which are offered and are chargeable
Paid home visits, which offer a number of intermediaries here are as equally dubious, since reputable companies offer free consultation appointments.
Consulting hotlines must be free
A free consulting hotline is also part of the portfolio of such reputable providers as normal free services.
Documents must be sent free of charge
Also, the documents are sent by reputable providers free of charge.
The basis for calculating the creditworthiness of a customer in Germany is Peter Pan data, which can lead to negative characteristics and positive characteristics. Below are some features listed.
Neutral or positive Peter Pan characteristics
- name and first name
- place of birth
- Application for giro account opening
- Applying for credit cards
- Termination of current account connections
- Current Account Opening
- Non-installment loans and current account loans
- Seizure protection account
- Revolving credit card
- Issued credit cards
- Application credit or real estate loan
- Request credit or real estate loan terms
- Inquiry on working capital and investment loan conditions
- Account at trade and mail order
- Inquiry for equipment leasing or hire purchase
- Guarantee (BP, BU, BX, BY)
- Mobile contract with term
- Equipment leasing or hire purchase
- Received credit
Negative Peter Pan features
- Credit card account in settlement
- Checking account in settlement
- Misuse of the account of the credit card by the legal account holder
- Check returned in the absence of cover
- Termination of consumer loans due to late payment with at least 2 installments
- Collection or reminder procedure initiated
- court orders
- Application or opening of consumer insolvency proceedings
- Admonished but unpaid and undisputed claims
- enforcement measures
- Arrest warrant for enforcing or executing an affidavit