There are many reasons why banks refuse a loan request. One of them is the affidavit. This involves the disclosure of a debtor’s assets, which is also entered in the Credit Bureau.
The creditor is required to take an affidavit if the attachments have already been unsuccessful. This EV, as the affidavit is abbreviated, is valid for three years. But what about a loan? Are there banks that give a loan with affidavit?
The financial end
The affidavit in reality means the financial end of the person concerned. There is no cell phone contract, hire purchase, or affidavit credit. If money is urgently needed, only a relative or friend can serve as the borrower. But nobody will take such a risk.
What can those affected do?
It is important to get out of the situation as quickly as possible. If the debt cannot be reduced from your own resources, private bankruptcy may help. If the application is granted, the debtor must transfer all incoming payments that exceed the attachable amount to the creditors through a trustee or lawyer. After six years of conduct, the remaining debt is paid off and the debtor is released from his liabilities.
What happens to the affidavit when paying?
If the invoice for which an affidavit has been requested has been paid, this EV must be deleted immediately from Credit Bureau. The creditor must provide the debtor with a corresponding confirmation. The district court deletes the EV from the debtor register and also informs the Credit Bureau of this.
In contrast to other negative entries, which are still three years after payment as a completion note in the Credit Bureau, the EV may no longer be listed. If this has happened, the person concerned can theoretically take out a loan with an affidavit, because the matter is then done. Another question is whether it makes sense to incur new debts right away.