Is it possible to obtain credit with lawsuits?
It can happen to everyone to have a few late invoices, or debts, or to have had lawsuits in the past without being insolvent.
A difficult period, going from a simple dismissal to a work accident led you to receive a lower income,
from 70% to 80% of your previous income, which can quickly lead to an accumulation of debts when you are used to a certain lifestyle. In this regard it is possible to insure against a loss of income thanks to additional unemployment insurance that we offer.
However, being sued does not necessarily endanger your financial balance. But if you want to get credit in this situation, it can complicate the bank’s decision.
Credit with lawsuits: do I still try?
No. It is important not to prepare your file and send your credit request with your fingers crossed, this will not be of any use to you.
Indeed, you should know that banks and other financial institutions in Switzerland are under the obligation according to the LCC (Swiss law on consumer credit) to refuse credit requests to people with more than one lawsuit in their extract prosecutions.
Another important point, if you make a request to a bank with lawsuits, they will refuse your request, of course, but also keep your credit data in their own internal database. So even if you become creditworthy again and apply again, the banks may still deny you credit because of their internal history.
All the more reason not to apply for credit with lawsuits, since there is a good chance that you will be unable to access credit in the future.
How do banks know my situation?
Your credit data are stored in different registers. In particular by ZEK, an organization that collects and stores all data, good or bad, relating to the solvency of people in Switzerland. You appear in this register as a good or bad payer. And banks automatically consult this organization before granting a loan.
Financial institutions can also consult the prosecution offices, which keep most of the history of your lawsuits, including those that you have settled.
How about the good news?
The first is that it is possible for you, as an individual, to consult your state at the ZEK for free. This can tell you which points are harming you in order to correct them.
The second is that with the help of professionals you can have your negative credit data cleaned in order to make all the lights go green for your credit request, your apartment search or to apply for a job in a very looking at the creditworthiness of its future employees.
Experts by your side
Thanks to its perfect knowledge of the financial field, the YeSavers Bank team can take care of restoring your creditworthiness data with the ZEK, the CRIF register and the register of the prosecution office thanks to its ZEKA VISTA service.
In other words, we take care of making you solvent again, and offering you new freedom.