So you get a loan for debt restructuring
November 21, 2019
A loan for debt restructuring is in many cases a comparatively sensitive issue. Most of the time it is about giving a debtor at the limit of his economic capacity either a little bit of fresh air for new investments or sustainably lowering the interest burden in order to accelerate the repayment. How a debt relief loan works and what to look for is best read here:
The rescheduling within the house bank is comparatively easy
For example, anyone who has taken out a third-party credit of $ 3,000 from a bank is often charged with approximately $ 400 interest a year. However, this high amount is then missing in the own purchasing power or for the repayment of the loan. For exactly this reason, rescheduling within the house bank is comparatively easy. An amount of $ 3,000 will be “transferred” from this credit line to a consumer loan with fixed repayment dates and installments.
At the same time, the available dispolimit decreases by 3,000 USD, this limit being taken as consumer credit. Since consumer loans are ALWAYS cheaper than a credit line, even with a comparatively low credit rating, it is usually possible to save about USD 200 per year, which is available for debt repayment.
It becomes more difficult with many loans appearing in the credit bureau
Another credit for debt restructuring will be a bit more difficult if many loans are already included in the credit bureau information. If these are paid back normally, then a loan for debt restructuring can already be thought of: Here, in addition to the credit bureau information and a salary statement, a kind of budget calculation is carried out, in which the debtor’s disposable income is estimated. If this monthly amount is positive, nothing stands in the way of a loan from this point of view.
However, with every kind of credit, it is always important to be open and to communicate clearly with the “new” bank. So if you clearly say that he wants to replace existing loans and thus save interest or accelerate the payment, he has good cards. The offer at the new bank will then not necessarily have a best interest in favor of the customer, but can still be seen. In this case, the new loan should really be used to repay debts and not to accumulate new mountains of debt.
Unpaid bills are a stop signal for any debt restructuring
However, every borrower should be careful not to send any signals of unreliability, either consciously or unconsciously. These include, for example, unpaid bills or mobile phone contracts, which ultimately have a negative impact on customer ratings. This becomes all the more understandable when one thinks of one’s own behavior: Everyone wants to have reliable business partners when it is possible. So who wants to have a loan for debt restructuring, should think in advance of its reliability and send positive signals to the business community.