Loan with bad ZEK credit rating

Hello,

Is there any chance of me being approved for a personal loan if I have a negative entry in my credit record at the ZEK?

Thanks

Hi there,

Whether or not you can get a loan depends on the specific code listed in your credit history at the ZEK. Not all entries are detrimental. If the entry is a code 01, code 02, code 03 (delayed repayments) or even a code 00 (behind on repayments), you may still be able to get a loan depending on the case in question and your overall creditworthiness.

However, you may only be approved for expensive loans because your creditworthiness is poor.

Other ZEK entries, such as 04 (debt collection), 05 (loss for lender) and credit card codes 22 (failed debt repayments), or 23 (loss for lender) have a stronger impact. If one of these is included in your credit history you generally will not be approved for a loan from a reputable lender. Applying for a loan with one of these ZEK entries will almost surely result in a rejection, which will also be listed in your credit record.

But ZEK codes are removed from your credit record after a certain amount of time. You can find the expiry periods listed here (in German/French).

If you can prove that a ZEK entry is not correct, you can contact the person or merchant which reported the incident and request that they withdraw the ZEK entry.

Best regards from Moneyguru

More on this topic:
Personal loan comparison
Getting a loan in Switzerland: Criteria
11 tips for getting personal loans in Switzerland

How can I get a car loan or home loan with a bad credit score, but with a bad income source? Is it possible to get the loan?

Good day

First of all: You must have a residence in Switzerland (usually for at least one year) to get a loan in Switzerland. Negative entries (in the ZEK database) are usually a no-go. In addition, you must have a sufficient credit rating.

Car loans per se do not exist in Switzerland, simply ordinary loans that you can then use as you wish.

You can learn about how credit scores work in Switzerland in this guide:
Credit scores in Switzerland