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Anyone who has gone through a private bankruptcy, who will learn after the period of well-being phase, the Restschuld Libreiung. That means he is virtually debt free. It does not matter how high the debt once was. But what about a loan despite the absence of residual debt? Does the private bankruptcy impact the creditworthiness of the customer?

The location

In the period of the good behavior phase, a consumer has to tighten his belt and give up a lot. He has just enough money to make a living. The hard time lasts for six long years and at the end there is the residual debt relief, which for many consumers is like a liberation. The time of restrictions is over and you want to allow yourself a lot of what has been omitted for so long.


Although despite the bankruptcy and the associated bad experiences many consumers have the desire for a loan despite debt relief. However, he will see in the credit application that he is indeed debt-free but still not creditworthy. Many consumers are disappointed and do not understand that, which is understandable in the end.

The bankruptcy remains in the Schufa of the customer for three years after the discharge of residual debt. To see for all lenders pushes a bar in front of a loan despite remainder of debt. In general, it can be assumed that the creditworthiness of a consumer is not creditworthy for ten long years. First are the seven years of the good conduct phase and then three years where the entry in the Schufa is.

Actually, one assumes who was in such a bad situation and is that no more debts are made. The negative entry rightly stands in the Schufa and signals to each lender that the liabilities were not reliably paid. The situation that arises after the personal bankruptcy shows that not all debts have been paid and that there are still some creditors who have remained at their expense.

Normally, it is understandable if all banks reject a loan despite the absence of residual debt. But bankruptcy has not always been the result of an uncontrolled buying behavior, and consumers often find themselves in situations where it is comprehensible that they are unable to pay. Think of a fraudulent business partner or if the consumer has vouched for someone and the borrower could not pay more.

When banks lend in such situations, they also put the default risk on the table. After the good conduct phase, the consumer has access to his entire income, including the attachable portion. From this side, creditworthiness would be restored. But to a sufficient creditworthiness now belongs to the clean Schufa and that is burdened.


The loan despite the absence of residual debt and the Schufa


The Schufa whose information is also among the approval features collects so the data from consumers, even those who have fallen into a personal bankruptcy. The Schufa rates this circumstance with the so-called Schufa score, which is very low in this situation, which signals insufficient creditworthiness. Three full years the entry in the Schufa will still be visible.

The Schufa shows the whole ruined financial position of the customer, which results in a low Schufa score with its unpleasant consequences. If a loan is requested despite the absence of residual debt, it often depends on the benevolence of the bank employee. If the credit rating is positive, since, for example, a very good income is available, then the loan is approved.

But if the bank only judges the score, then the credit rejection is already certain. The creditworthiness can be improved if there is a high income that is significantly above the attachment exemption limit. Often it is enough if the customer brings up the reasons why the insolvency was due. If the bank also sees that it is not predominantly about consumer debt, the financial picture improves considerably.

It’s not just the fraudulent behavior of a business partner, it could also have been a long-term unemployment or even a serious illness with a disability. In order for a loan to be granted despite residual debt insurance, lending can also be decisive. For example, if the customer needs a car to get to work, the credit opportunities increase as well. A car loan could therefore be secured by the car.


The possibilities

The prospect of success in a loan despite debt relief could be, if the bankruptcy long ago and the entry is no longer in the Schufa. If no irregular payments have been detected since then, then it could work out with a loan. If the house bank declines, the direct banks are available. There, the credit conditions are considered somewhat easier, although bankruptcy would also have a negative impact on these banks.

Not so seldom, after the release of residual debt, there is a tense financial situation that would be relaxed with a loan. If a complete new beginning is planned and the loan would serve to find the financial connection, then the necessary creditworthiness must also be present, for example a good income, with which credit is paid. The situation after the release of residual debt is viewed negatively by most banks. The bankruptcy has shown that the customer can not finance his finances.

It would be possible a loan, if a loan is taken three years after the discharge of residual debt, then the entry would be no longer visible. The loan despite debt relief does not make a schufa-free loan possible. Although these banks take no insight into the Schufa but very well in the public debtor directory and there the bankruptcy is also noted.