However, it can also happen that when applying for a loan without verification, it is rejected by the lender. The most common reason for this is that people withhold information from the application or provide incorrect information. Borrowing without review means that there is no check at the Credit Registration Office, but it certainly does not mean that a provider of such loans does not check at all who they are dealing with.
Deal with credit provider
At the first application, information is requested and proof of identity. Various checkpoints have been built into this process to check this data for authenticity. If inaccuracies arise during these checks (provided intentionally or unknowingly), the application will be automatically rejected. Therefore, always ensure that you provide the correct information and truthfully complete these forms on the Internet. The chance of acceptance is then many times greater. You are already dealing with a credit provider that provides risk loans without review at the BKR, but you must have made it very bold if this provider is to scare you of what you send in the form. It is more important to fill it in truthfully, so that at least there is no doubt about your honesty.
Borrowing without testing is certainly possible, but expensive. On the other hand, the advantage is that application and acceptance go very quickly, so that you have the amount to borrow very quickly. The disadvantages are the very short duration, for repayment and the interest which is many times higher than that for regular loans. The amount of the maximum loan amount is also very low, so financing of renovations, purchasing a new car, etc. is not possible with this.
Fast money for financial emergencies.
Loans without verification are useful in cases when you need money quickly for a very short period. Using a loan without checking in other cases usually results in problems with the repayment, which causes the borrower to get into trouble again, with all the associated consequences. It is therefore also important to ask yourself whether borrowing without verification is the best alternative for you, or whether other forms of borrowing may be a better alternative.