More and more people are using private bankruptcy and are assuming that after 7 years not only will the debt relief beckon, but their creditworthiness will be restored.
It’s finally a good feeling to be debt-free, but creditworthiness is a sensitive issue after a debt relief and so, despite being debt-free, credit is a sensitive and difficult issue.
Debt-free but not creditworthy
Through private bankruptcy, more and more people are getting debt relief and are free to live after the behavior phase. Since the debt with debt relief is a thing of the past, it is generally assumed that the creditworthiness will return with the debt-free. But creditworthiness has been suffering from the former debts for longer than expected.
Thus, with the debt relief, all negative past data at the Credit bureau is deleted, but a credit after debt relief is not immediately possible. This is because the Credit bureau has a note about the exemption from debts and this for three years.
Credit is a difficult topic even after debt relief
So the credit after debt relief remains a difficult topic, because, with the note of debt relief, no Good Bank is usually willing to grant a loan. For the banks, the note is reason enough to doubt their creditworthiness.
This is because the bank clearly states that creditors from the past have not been serviced and so there are doubts about whether a loan will be serviced in the future.
Credit without Credit bureau offers the solution
Anyone who has received the debt relief and would like to take out a loan immediately can take out credit after debt relief using a loan without a Credit bureau. This is usually the only way to get a loan after debt relief.
Credit after debt relief is therefore possible, although not in the form intended. But the advantage of using a loan without the Credit bureau is that no new data is collected in the Credit bureau and normal creditworthiness can be achieved again at least for the future.