Reschedule sensibly

Reasonable debt redeemable than to be slain by debt.

Recalculating loans can be a sensible solution if borrowers are running up on current installment rates or have lost track of their installment obligations. Even if loans were concluded on significantly worse terms than is currently possible, the sensible debt restructuring can save money.

Debt rescheduling only with appropriate creditworthiness

Debt rescheduling only with appropriate creditworthiness

The basic requirement for a rescheduling is, of course, that the borrowers have a corresponding credit rating. Specifically, this means that the credit bureau information should be flawless and an attachable income from a permanent position is detectable.

To find out what the transfer fees for existing contracts are, contact the lender and ask about the transfer fee. In addition, the redemption amounts then give the amount to be recaptured if it is sensibly rescheduled.

If a rescheduling is planned, the MRP should also be included, if this is in the target. The interest rates on the use of the Dispos are usually much higher than the interest on installment loans. So that a rescheduling makes sense in principle, if it is not possible, the Dispo short term due to the current income so.

If the loan amount required to repay the current obligations is determined, a loan comparison can ideally be used to find out which bank offers the best conditions for the desired installment loan. There are also banks that directly have debt rescheduling in the product portfolio. A special debt repayment loan gives the customer the advantage that the banks that offer this loan also take over all formalities related to the debt restructuring. When such a debt rescheduling loan is approved, the borrower grants the lender appropriate transfer authority. The lender then initiates the replacement of existing loans. The rescheduling loan will not be paid directly but will be used directly to repay the debt. This option is recommended because the bank takes care of all formalities for free. Borrowers save not only time, but also nerve-wracking phone calls.

As already described, debt rescheduling loans are only granted without difficulty if the applicants are creditworthy. This also means that the rate for the loan can be paid off the freely available attachable income. Borrowers who already have a negative credit bureau information because current loans are not serviced and have already been terminated by the lender have little chance of a debt rescheduling loan. This also applies if there are payment problems due to unemployment or illness in the case of current obligations. In these cases, no new lender will agree to lend.

Make a credit comparison in advance

Make a credit comparison in advance

To find a bank that gives the desired loan on the best terms, is the free credit comparison on the Internet. If credit offers with credit-based interest rates are the obvious best deals, it makes sense to get in advance personal offers. For interest-based interest rates, the advertised interest rate changes depending on the applicant’s credit rating, so that personal offers are indispensable for comparing offers.

Alternatively, you can only access fixed-income offers from the outset. In the case of loans with fixed interest, the amount of the interest depends on the loan amount and the term, but in principle not on the personal creditworthiness of the borrower. Loan seekers, who have only an average or a weak credit rating, are usually better advised with fixed interest rates.

In order to make the monthly installment affordable in the future, the term of the debt repayment loan should be selected as long. Few banks grant consumer loans with a term of ten years.

If the credit rating is not given

If the credit rating is not given

Somewhat more complicated or impossible is the meaningful rescheduling when borrowers are totally overindebted. As soon as the installments from existing loans have not been paid and there have been credit cancellations, the credit bureau statement is correspondingly negative. If a borrower can not prove that he has a permanent employment, rescheduling is not easily possible.

In such situations, borrowers should contact the lender and try to find a solution together. Many banks are willing to compromise. Rates may be deferred or bank rescheduling may be granted.

If a meaningful rescheduling is no longer possible at all, the way into debt counseling can be an appropriate option.

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