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Late Credit or Leasing Monthly Payment – What Penalties?

Have you taken out a loan or a lease, and are there any delays in paying your monthly payments? What are the consequences and penalties? Is there the possibility of postponing the payment of certain monthly payments? When does the situation get serious? Can the spouse be requested by the bank?

When you take out a private loan, you agree to pay an amount X every month over a given period. Countless contingencies can put your finances in the red, which will cause late payments for some or all of your bills.


1. Payment on reminder

The first scenario is that you pay the monthly payment of your credit or leasing on recall. After all, you say to yourself that this is an invoice like any other and that a late payment is a trivial fault that has never had any consequences other than administrative costs? Would you not imagine that a request for credit or leasing in the future could suffer from it?

And yet! The ZEK considers that this is already a serious fault at this stage which damages your confidence index. It will inflict a ZEK 03 code on you which will remain registered for 5 years. Thus, all future requests for credit or leasing within this period of time are very likely to be refused.


How are these penalties presented, are they late interest, fixed costs?

Regarding late penalties, fixed costs start from 15 and can be up to 100! These amounts differ from one bank to another and are entered in the general conditions.

Exception with Credit Now

Credit-now authorizes twice the deferral of monthly payments without additional interest charges and without registration with the ZEK.

Some banks do this on an exceptional basis, with no impact on the client, but on an informal basis and are rather rare.


2. Reduction of the monthly payment

late credit

The second scenario is that the evolution of your financial situation no longer allows you to assume the amount of your monthly payment. Therefore, you request a reduction in your monthly payment from your bank.

A ZEK 04 code will result, more serious than the 03. It will also remain registered for 5 years.


3. Delay reaching 10% of debt

3. Delay reaching 10% of debt

In the event of significant delay in payment amounting to 10% of the net amount of the debt, the bank is entitled to claim the total amount of the debt plus interest with immediate effect.

In general, this type of procedure leads to a court. The client will be forced to repay the full amount of the debt immediately, and if this is not possible, legal proceedings will be initiated.

If the person lives in a couple and the spouse is solvent, the bank can turn against the latter.

Credit with negative Credit Bureau with guarantor

In order to check the creditworthiness of your customers, Credit Bureau information is obtained before a loan is granted. If the bank classifies this negatively, the loan is rejected. This can also happen if there is a good income, the donor is thus fully responding to Credit Bureau’s information.

Regarding Credit Bureau, it must be said that this institution protects its contractual partners against loan seekers who have not properly met their financial obligations in the past. This can be unpaid bills from a mail order business or an unredeemed loan or even an oath of disclosure. The information provided by Credit Bureau is binding for German banks. A negative Credit Bureau loan with a surety can be an alternative to a normal loan.

credit limit

credit limit

Even if the loan seeker is of the opinion that a loan with a negative Credit Bureau with guarantor will give him the desired amount of credit, he is wrong. The size of a loan without Credit Bureau amounts to 3,500 USD. If you now need a larger sum, for example to buy a car, a loan with a negative Credit Bureau with a surety can be the better solution. However, the guarantor is subject to the same conditions as the borrower.

He has to be solvent, ie he should have a sufficient and regular income, a permanent job is also an advantage. A very important point is that a guarantor must have a positive Credit Bureau query. In addition, the guarantor should be economically able to pay the installments due in the event of a default, without severely reducing his standard of living.

The guarantee

The guarantee

The loan seeker can find a solvent guarantor in his relatives or acquaintances. If this is found, the importance of a guarantee should be made clear to it. It may happen that he does not get a loan even with a credit request, unless he provides a guarantor himself. The banks regard a guarantee as a contingent obligation. This means that a guarantor does not just guarantee, but has to vouch for his entire assets. A negative Credit Bureau loan with a guarantor is only a good solution if the guarantor is sufficiently creditworthy.

Loan with guarantor despite negative Credit Bureau – Find the right loan

If you want to secure a loan with a guarantor despite a negative Credit Bureau, you can find a variety of attractive offers on the free financial market. Unlike the house or car bank, the creditworthiness is not a prerequisite for approval. All borrowers get an opportunity and can focus on low interest rates and flexible offers, which they recognize in a comparison and thus find the right loan for them.

Recognize cheap offers in comparison

Recognize cheap offers in comparison

Since not every loan is suitable for all borrowers, one should use a comparison before applying and find out which loan with guarantor is really cheap despite a negative Credit Bureau. In a credit comparison, cheap not only refers to low interest rates, but also encompasses the general conditions. Flexible contractual bases are convincing and are particularly important in the decision, since the financial situation can change in the term and lead to an adjustment of the repayment.

Special payments, a deferral or extension of the term are only worthwhile if the borrower can decide to do so without additional costs. With the enormous variety of loans, it is advisable to exclude all compromises and to opt for a loan with a guarantor despite the negative Credit Bureau, which fits the personal requirements optimally and does not only come with a low interest rate. The comparison of the lenders and their conditions shows the way and helps to exclude offers that are too expensive or unsuitable and to concentrate on the best loan.

Non-bureaucratic approval and quick transfer of the sum

Non-bureaucratic approval and quick transfer of the sum

If an invoice does not tolerate deferral or if an urgent purchase has to be made immediately, waiting times for a loan with a guarantor are very uncomfortable despite the negative Credit Bureau. In the free financial market, you apply for the loan directly online and send the completed form to the lender on the Internet.

This provides an overview and includes the truth of the information and the relevance of the guarantee in its decision. The permit and a prompt payment are received within 24 hours, so that urgent purchases or repairs, important bills or other uses of the loan can be realized quickly and without waiting.

Loan for pensioners without Credit Bureau

Do you know the sober facts about loan for pensioners without Credit Bureau? You can read about the credit options available without Credit Bureau and why alternative offers should not be excluded in the article.

Loan for pensioners without Credit Bureau – problem situation

Loan for pensioners without Credit Bureau - problem situation

If you are still working full time, you can get a Credit Bureau-free international loan if you have a negative Credit Bureau entry. Realistically speaking, without Credit Bureau since 2010, only a loan from Lite Lender from Liechtenstein has been considered. As far as is known, only this credit bank fulfills the requirements to legally be able to offer Credit Bureau-free credit bank financing in Germany.

This dominant position of the credit bank has serious implications for the search for a loan for pensioners without Credit Bureau. By setting the age limit of 58 years for lending, retirees are excluded from Credit Bureau-free financing.

Credit Bureau-free financing for pensioners – real offers

Credit Bureau-free financing for pensioners - real offers

Only young retirees, such as reduced-earning pensioners, can get a credit opportunity in Liechtenstein. Basically, a pension income is equivalent to a work income. Borrowers with a pension income are not specifically excluded from financing. Nevertheless, the pension is harder to seize than a normal income from work.

The credit bank’s hotline can be used to clarify whether there is a credit opportunity in a special case. In this case, the help of an intermediary, such as Cream Bankt, would be better than taking the initiative. The only other alternative that allows a Credit Bureau-free loan for pensioners is unfortunately only the loan from the pawnshop.

Loan alternatives not overlooked lightly

Loan alternatives not overlooked lightly

Nobody who has to make do with a small pension is looking for a loan without Credit Bureau in order to buy luxury goods. It is elementary desires that lead to the search for a loan for pensioners without Credit Bureau. For example, the washing machine is defective and must be replaced or at least repaired.

Vexcash offers a loan option for small credit requests that can also be met with a negative Credit Bureau and low income. Financed up to the Credit Bureau score of M, microcredit that must be repaid within 30 days. Neither an age limit nor high income requirements prevent lending. From a pension amount of at least 500 dollars a month there are realistic credit opportunities.

Another alternative to the loan for pensioners without Credit Bureau would be a private loan. Up to a score of H, a credit attempt can be successful despite Credit Bureau via Auxmoney or Smava (Link:

Apply for a loan in Switzerland


In Germany it is not easy for everyone to get a loan. There can be different reasons for this. Customers with poor credit ratings are often rejected. Banks always check the customer’s Credit Bureau when applying for credit. The worse this turns out to be, the harder it will be to apply for a loan. The Credit Bureau contains unpaid bills, credit agreements and other payment requests that the customer may not have followed up. This often leaves only the way to apply for a loan in Switzerland.

Swiss credit information

Swiss credit information

This loan is increasingly being granted in Switzerland and has different advantages. For one thing, banks do not work with Credit Bureau. You give yourself the collateral in the form of pay slips. If the salary is so high that it can be attached if there is a default, a loan is often given. Since Credit Bureau is not used, the loan that is applied for in Switzerland is not recorded in Credit Bureau.

Customers can take out a loan in Germany later, if their credit rating is better. Nobody has to go abroad to apply for a loan in Switzerland. Credit brokers who work with foreign banks work for this. The customer is increasingly finding these on the Internet. Credit intermediaries charge a fee for their services, but this only has to be paid after a contract has been signed.

Requirements for the loan

Requirements for the loan

In order to apply for a loan in Switzerland, certain requirements must be met. Not only the salary that was mentioned is crucial. In any case, the applicant must be of legal age, must not work during the trial period and must be registered in Germany. The relevant documents must be sent to the credit intermediary. The latter forwards the documents to the bank, which are checked again there. If all requirements are met, a loan is concluded. The customer can look at different loan offers and choose one. If there is no suitable offer, you have to continue searching. In such a case, it is advisable to contact several credit intermediaries so that the selection is wider.

Are there forward loans with no surcharge / costs?

Normally there is always a surcharge for a forward loan. There are banks that waive the interest surcharge in the first few months of the lead time, but mostly only for short-term offers.

A forward loan without a premium is therefore rarely found on the market

A forward loan without a premium is therefore rarely found on the market

The amount of the premium depends on how long in advance you take out the forward loan. The following applies: the longer, the higher. For a forward loan with a short lead time of 12 months, a lower premium is payable than for one with a 36 or 50 month lead time. On average, the premium is 0.02 percentage points per month, but this of course also depends on the bank and its offer.

You can use this formula to calculate your forward loan premium:

Interest surcharge per month x number of lead times in months + reserved interest rate.

Interest surcharge per month x number of lead times in months + reserved interest rate.

Suppose you take out a forward loan today, which is due to start in three years, and secure an interest rate of 1.8 percent per year. The lead time is consequently 36 months. For this, an interest premium of say 0.02 percent per month is due. The calculation is accordingly:

0.02 percent x 36 months + 1.8 percent = 2.52 percent pa

You receive the offered forward loan for 2.52 percent per year, and this interest rate then applies to the entire fixed interest rate that you have chosen for the forward loan. If, for example, you have fixed the rate fixation to ten years, then you pay 2.52 percent per year on the loan amount for ten years from the start of the forward loan. However, the interest premium is the only item that arises: Otherwise, the forward loan does not incur any additional costs – for example, there are no further commitment or transaction fees.

By the way, finding the right forward loan with a good interest rate offer is not difficult at all. With our practical forward loan calculator you can calculate in advance what interest you can expect. And our on-site consultants know the supply situation exactly and will help you to find suitable forward loans with suitable conditions. Simply contact us and arrange a free, non-binding consultation appointment!

Special repayment options for mortgage loans

Most people rely on a mortgage loan when buying real estate, only a few can pay for the house or property completely independently and in one act. With a mortgage loan, the borrower should pay particular attention to the special repayment options of the loan. On Astro Finance you can find such a mortgage calculator, which can calculate how special repayments, transferred to your own credit, would have an effect. And that can certainly pay off in individual cases. We explain how and why in the following article.

Attractive mortgages are characterized, among other things, by the possibility of special repayments

General information about mortgage loans

General information about mortgage loans

A mortgage loan offers the possibility of private real estate mortgage lending. With this type of real estate financing, however, anyone who avails himself of a mortgage declares that he agrees to transfer the rights to his property to the person who finances the purchase. Most of the time, the bank is a bank. The property thusserves as a kind of security for the lender who, in return for this contract, takes advantage of the interest to be paid by the borrower. If the debtor can no longer pay his installments, the credit institution has the option of realizing the property and thus repaying the outstanding debt. The money received initially must be returned to the bank or any other lender in installments, the frequency and amount of which can be negotiated individually. The repayer can also make use of so-called special repayments.


Advantages of special repayments

Advantages of special repayments

In short, it can be said that special repayments get a borrower to their home loan faster when it comes to real estate financing, and that even with less interest than is usual with a normal repayment. In addition to saving interest, the advantages of special repayments are that the debtor remains flexible and has the option of paying the loan faster than originally planned and thus becoming debt-free more quickly.


Remain flexible through special repayments

loan payment

By making special payments, the borrower is financially more flexible than with normal installment payments. For example, if he receives additional capital, such as in the event of an inheritance, gift or bonus from the employer, he can pay a large part of his debts with the bank with just one payment. Even the bank has an advantage here, because it receives its money safely and quickly and thus has the opportunity to reinvest it.


Become debt-free faster thanks to special repayments

Become debt-free faster thanks to special repayments

With the special repayments, there is an opportunity to become debt-free faster than originally provided in the loan agreement. Ultimately, these represent additional payments that the borrower can make voluntarily to pay off their loan faster than contractually agreed. However, the maximum number and the maximum amount are specified at the beginning of the loan agreement, which is particularly important for the lender, because if too many and too high special repayments were made, this could have a negative impact on the hoped-for interest rates and the business for him May make it less profitable. The additional payments can therefore also result in prepayment penalties in order to prevent exactly this case, which has just been described.

If you are claiming a mortgage loan, it is advisable to inform your credit institution about it when preparing the loan contract or in advance. It is common for a bank to allow special repayments of up to three, five or even ten percent of the previous loan amount per year. If you take advantage of the option of special repayment, the term of the loan is shortened depending on the amount of the payment made.


Save interest through special repayments

debt repayments

If you take advantage of the option of special repayment, it is also possible to save interest. If the borrower pays a special repayment, this reduces the total amount still to be paid and thus the interest that is due for this total amount in each repayment installment. Especially in the case of financing with a high interest rate, this can be a decisive criterion for choosing construction financing with a special repayment clause.

Employer loan: a loan granted by the company.

The employer loan, better known today as the “Action Logement loan”, is a type of mortgage available to employees of companies with 10 or more employees. This loan to employees in the non-agricultural private sector is based on a contribution paid by the companies. It applies to plans to purchase a main residence in new or old.

How does the employer loan work?

How does the employer loan work?

Need a boost to finance a real estate transaction? The employer loan is there for you. This is an additional loan backed by a conventional mortgage loan granted at advantageous rates. It is used to partially finance the acquisition of housing for the purpose of primary residence, whether:

  • In the new (new apartment or land to build a detached house);
  • In the old (with or without work).

In addition, the accommodation must display a level of energy performance greater than or equal to “D” (the scale going from “A” to “G”).

The amount of the 1% employer loan can be up to 30% of the total amount necessary for the acquisition, with a range between $ 7,000 and $ 25,000 depending on the geographic area concerned, and for a period of 20 years maximum. Possibilities of increases have been foreseen in case of professional transfer, essential work for the improvement of housing or its adaptation to disabled people, or for the acquisition of social housing.

The employer loan can also be used to finance work, for a maximum amount of $ 10,000 (with the possibility of an increase depending on the type of work).

The story of the 1% employer

The story of the 1% employer

It was in 1953 that the employer loan was set up in France, under the name of “1% housing”, or Employers’ participation in the construction effort (PEEC). The context is that of the immediate post-war period, when the country is experiencing a major housing crisis. The government therefore created a system which consisted in asking companies in the private sector (excluding the agricultural sector) with more than 10 employees to pay a contribution of around 1% of their payroll, in order to help employees access to the property.

After 1992, the participation rate dropped from 1% to 0.45%. Companies always pay the same amount, or almost (0.95% of their total payroll exactly), but 0.5% is donated to the National Housing Assistance Fund which is responsible for funding several allowances for households. The expression “1% employer”, or “loan 1 employer”, therefore became improper.

Who can benefit from the 1 employer loan?

Who can benefit from the 1 employer loan?

All private sector (non-agricultural) employees working for companies with 10 or more employees, regardless of their seniority, as well as former employees who have retired for less than five years can benefit from the employer loan.

Also concerned are the unemployed under 30, salaried students, and students who receive a scholarship.

In all cases, obtaining the 1% employer loan is subject to means test. These are aligned with the social housing accessibility grids

Other devices backed by the employer loan

Other devices backed by the employer loan

There are also other systems backed by the employer loan, depending on the situation of the employees and their real estate project:

  • For employees in difficulty: the Sécuri-Pass loan which corresponds to a zero-rate advance on the monthly payments of a mortgage, or aid for the refinancing of a mortgage or a home buy-back;
  • For tenants: rental accommodation offers and Loca-Pass aid (financial advances and rental guarantees);
  • For lessor owners: loans to finance improvement works, specific bridging loans in the event of professional mobility, etc.

What You Should Know About This Type Of Loan

What You Should Know About This Type Of Loan

Important thing to know: the employer loan is not attached to the employment contract. This means that if the borrower leaves his company following a resignation or dismissal, and this after obtaining a 1% employer loan, he will not be subject to any obligation to repay the loan in advance.

Another essential point: two salaried spouses can fully benefit from the 1 employer loan granted by their respective company. However, this possibility does not allow them to exceed the ceilings accepted for the loan.

Finally, last thing. To obtain an employer loan, you can:

  • Go directly through your employer. In this case, you must give him an official request for a 1% employer loan. It is free to accept or not this request, depending on the priorities and the use that has already been made of the funds.
  • Go through Action Logement to request a form to give to your employer, who will fill it out and send it himself to the organization.

Note that since civil servants are not part of the private sector, they are not entitled to the employer loan. However, a particular type of credit is open to them: the official loan.