Swiss loans despite personal bankruptcy

Obtaining Swiss loans despite personal bankruptcy is completely impossible without an additional guarantee, because the banks from neighboring Switzerland also pursue credit standards when granting loans, which the borrower must fulfill. Swiss banks therefore tend to lend even if their creditworthiness is poor, but this is simply not possible for private insolvencies – there is no credit rating for this group of people.

Personal bankruptcy

Personal bankruptcy

Once personal bankruptcy is reached, the creditworthiness is automatically reduced to zero, which is why further borrowing is only possible through a guarantor. This guarantor must be liable for the borrower’s assumed debt, even if he is not entitled to a share of the loan amount. Therefore, a guarantee is always a matter of trust, which is why guarantors and borrowers usually know each other very well or even have a family relationship.

Swiss loans despite personal bankruptcy are possible in the form of small and micro loans if the guarantor has a corresponding credit rating. This primarily includes a regular income of at least an average amount, and a positive Credit Bureau entry is also an advantage. If the insolvent still has an income, this is generally not counted, since large parts of it are used anyway to satisfy creditors in the course of private bankruptcy.

Start looking for a surety early

Start looking for a surety early

If you want to take out Swiss loans despite personal bankruptcy, you should look around for friends and acquaintances early on for a potential guarantee. The guarantor must be presented directly when the application is made, and of course the bank also checks its creditworthiness extensively. Ultimately, the loan will only be paid out if the bank in Switzerland has reached a positive result. It should be noted that despite the guarantor, no ideal conditions are to be expected.

For the bank, the insolvent person is a high risk, which is attempted to be offset by a high interest burden. This is the only way to grant Swiss loans at all despite private bankruptcy, otherwise they would lose their profitability for the credit institution. Borrowers, regardless of whether they are a guarantee or not, should bear in mind that borrowing for a short time or during personal bankruptcy also poses a high risk of renewed over-indebtedness.

During the behavioral phase, the borrower undertakes to avoid further debts, which is why the taking out of an additional loan should only be realized if it serves to minimize further costs in the long term – debt restructuring would be a suitable example of this. Consumer credit should be avoided entirely as a private bankrupt.

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