Creditolo considers study credit free of credit as low meaningful

The high waves triggered by the Schufa study on the "dubious Schufa-free offers" for personal loans has resulted in an echo. The credit intermediary Creditolo sees significant shortcomings in the audit methodology, which led to little meaningful results. Only a very small number of test subjects would have qualified to receive a loan in the first place.

"The majority of the subjects would not have received a loan anywhere"

The end of October published result of the SCHUFA to the offers of "Schufafrei offers" of various credit offerers, caused obviously much discussion around the industry. Affected borrowers and also non-affected consumers could follow the warning notices against "dubious rip-off artists" several times in the media.

No surprise is that on the alleged opposite side, the offerers themselves, felt strongly addressed. Anyone who has something "to show for it" should, according to the SCHUFA report. about the breaking away of "credit victims" annoying. However, the same fate could also befall the providers who offer their loans with "Schufa bypass" in a reputable manner.

Not completely in agreement with the procedure of the Schufa investigation is the "Kreditallrounder" creditolo. With a statement also the credit mediator does not give itself surprised to the Schufa results, admits however that this could apply only from the surface regarded.

creditolo considers it "more than legitimate" for the investigation methods to the "dubious practices of the mediators" to be examined more closely. Although the presentation of a loan without Schufa on the part of the provider was not an objective position, this would also apply to Schufa if it reported on loans that would come about without it, creditolo argued.

The credit mediator made the following comparison to the success rate of the inquiries:
The almost 80 providers examined by Schufa would have been determined in the majority by input of well-known terms over the search machines. Test persons contacted finally the found credit mediators. In the end, the total number of. 177 test contacts with the different credit offerers only two granting came off. The statistic success ratio is however with the number of the placed inquiries, since the number of the offerers of schufafreier loans is relatively small. This is also the reason for the low success rate of around 1% due to the large number of contacts made.

In more than a third of the inquiries made by the test persons, an answer remained completely unanswered and in 14% of the contacts, the inquiry was forwarded to third parties.

creditolo was not surprised by the low success rate of the study, because for once no really qualified provider selection would have been made. The search results showed z.B. with the keywords "credit" and "without Schufa" in the first ten positions several offerers at, which would assign credits without Schufa definitely. For this reason, a "grazing" of 300 search results would be unnecessary and, moreover, impractical.

Nevertheless, the success rate turned out to be low and this could be attributed to the requirements of the appointed test persons. The criteria were divided into three groups. Two of the groups, "unemployed below the seizure exemption limit" and "self-employed and small traders" would automatically not be eligible for a loan without Schufa.

In fact, according to creditolo, providers would be represented in the market, which especially in these sensitive areas of unemployed and self-employed people loans o. Schufa offered, which could not be fulfilled in the end.

The credit mediator regards the search machine results as basis for the study production as unsuitable, since the method for the offerer search raises the question, how high the probability for an adult person by the input of selected search words would be probably to receive a loan without Schufa with a search machine.

Schufa used unsuitable test persons
creditolo came to the conclusion that the Schufa for the accomplished study set majority test persons, who would have gotten due to their conditions in no place a credit. For a meaningful result, Schufa would have had to research in advance which criteria have to be met for a loan without Schufa in order to determine the suitable test persons on this basis.

The result of the study would probably have been completely different and would rather have revealed the core problem. It would not be a matter of establishing that providers and their offers would be a problem, but to locate the actually reputable credit brokers.

Against the sentence introducing the Schufa report, "no serious loans without a credit check," creditolo defended itself and explained that loans without Schufa come from absolutely reputable credit institutions. Here, too, a credit check is carried out. On the basis of the inspection and evaluation of the original documents on income, inquiries at the local district court and affidavits, a credit rating can be determined very well. Only the Schufa would remain outside of it.

Requirements for credit without a credit history

• Unterminated and unlimited employment relationship since min. 12 months
• Minimum income 1.110,- Euro mtl. net (Alone without children)
• Salary received in a regular checking account
• Maximum age of the applicant is 57 years

Definitely no Schufafrei credit receive unemployed and self-employed people

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