Insolvency can affect a company as well as a private person. Regarding the consequences for the subsequent creditworthiness, bankruptcy differs from consumer insolvency, even if the legal form of an individual company or a OHG leads to points of contact. The colloquially occasionally used term bankruptcy does not apply to most bankruptcies, as this is the criminally relevant intentional or grossly negligent cause of insolvency.
The impact of bankruptcy on creditworthiness
A personal bankruptcy is a hard negative feature in a future private credit request and prevents the consumer concerned from getting cheap credit despite his bankruptcy with German-based banks. This does not apply if the insolvency relates to a GmbH or a stock corporation in which the borrower was involved. In this case, insolvency has no further consequences other than the loss of the deposit, especially as there is no personal breach of financial obligations.
The fact that consumers are given favorable loans after a personal bankruptcy despite the bankruptcy due to a transfer of assets to the lender also appears to be precluded, since they must use all their assets for debt repayment with correct behavior with the exception of the legal guardianship. Placing a guarantor is not sufficient as an additional security feature to most financial institutions for lending following a private bankruptcy. People often apply for cheap credit despite the bankruptcy of a third person.
This behavior is legally permissible, but in this case the nominal borrower is solely liable to the bank for the repayment of the loan. Thus, the absolute trust of the helper is to be regarded as a precondition for the lending. Anyone who has successfully registered on a private lending website before filing a personal bankruptcy can continue to use it after the bankruptcy application. Here, the personal situation should be given honest, especially since private lending is mainly based on social criteria.
Swiss loans despite insolvency?
In spite of bankruptcy, cheap loans are basically available at Swiss banks, as the corresponding financial institutions do not have access to private credit documents and thus lend their loans without private credit. However, caution is advised if the bank asks in the loan application for a possible personal bankruptcy. Anyone who makes dishonest credit application submissions prior to issuing the remainder of the debt risk their subsequent refusal.
However, if the Swiss bank does not ask for a bankruptcy petition in the loan application form, the borrower does not have to refer to it on its own initiative. In order to get really cheap loans despite its bankruptcy, the borrower necessarily compares several offers Swiss banks to lending.