Options of reclassification of loans
If you want to repost loans, you have several options. You can contact your local bank or any other bank. An important role in choosing the lender plays the question of whether you already have negative credit bureau entries. In that case, it can sometimes be difficult to repatriate loans. However, this must be decided case by case. Both the type and the severity of the negative credit bureau entries play an important role. If you are looking for a loan without credit bureau information, you would need to contact a credit intermediary or a lender whose head office is abroad. lenders are required by law to request information from credit bureau when a person applies for credit.
Rescheduling loans and disbursements
There are various forms of debt restructuring. You can take a installment loan to balance the credit line on your checking account, repay another installment loan ahead of time, and consolidate multiple installment or disbursement credits. If you would like to take out a new loan in addition to an already existing loan, this will only be possible if your credit rating is sufficient.
The credit line on the checking account is usually set up by the house bank whenever regular income is recorded on the account. The amount of the contingency loan depends on this income and is determined by the bank. In many cases, you may receive a credit line that is approximately twice or three times your monthly salary. As long as the credit line has not been canceled or shortened, it is available to you at any time without restriction. You do not have to announce it to the bank in advance if you want to have all or part of the credit line available. As a result, they are very flexible and can bridge financial bottlenecks or make smaller purchases. However, you should make sure that you repay the credit line as soon as possible. This should happen at least in the medium term. In addition, it is strongly recommended not to use the credit line constantly. Not only do you have to pay interest, but you also run the risk of being permanently in debt and of not being able to get out by yourself.
If you find that you can not repay your credit line with your current income, you should act in good time and look for alternatives. It could be a viable option if you talk to your house bank and explain ways in which you can repost loans. In many cases, the house bank will offer you a installment loan that will allow you to repost loans. The money is used to balance the account. You then have to pay monthly repayments to your bank. This will happen until the loan is completely repaid. During the repayment of the loan, you may have to expect the bank to cancel or reduce the credit line. Only when you have repaid the loan, you can again dispose of the credit line, if the conditions are still met. The credit line can also be adjusted regularly to changing conditions. If your salary increases, you can also get a higher credit line. It becomes difficult, however, if there are negative credit bureau entries. However, they must have other reasons, because a credit line alone does not usually lead to a negative credit bureau entry.
If necessary, it is also possible that you replace an older installment loan. This approach is useful if the level of interest rates has dropped significantly since your last borrowing, or if you can find a bank that can offer credit on favorable terms as your previous bank. However, you should only make a decision here if you have compared several credit offers that are suitable for you.
When you repost loans, you can often save a lot of money. However, you have to keep in mind that in many cases a prepayment penalty will be charged by your old bank. You should compare the amount of this prepayment savings with the interest savings. Only when it proves more convenient to repost loans should you take the necessary steps.
Domestic and foreign lenders
With a bank, you can only repost loans if not only your income, but also your credit bureau is in order. Negative credit bureau entries are tolerated here only in Ausnamepällen. This applies in particular if a high and secure income or if a guarantor or a co-applicant exists. Many people find out that they receive a credit rejection because their credit bureau has negative entries. This factor can play a significant role in rescheduling. If old loans are to be settled with the loan, this is generally only possible if these invoices have not yet led to negative credit bureau entries. Even if the project is praiseworthy to pay the old bills with additional money, this way is not always feasible and desirable. Rather, it is advisable to look for other alternatives and, for example, seek a debt counseling service. In any case, you should consider whether it is possible to eliminate the reasons that led to negative credit bureau entries. Only at a later time can you think again about a loan.
Foreign lenders do not require credit bureau information from their customers. Negative entries are not important here. They can not be seen by the lender and therefore do not lead to a loan application being rejected. The condition is, however, that citizens who want to obtain a loan abroad, have a secure income. This income should have a minimum amount of 1150 euros. This applies above all to a bank loan, which enjoys great popularity with many s and which has been available for several years.
With a foreign loan, it is easy for you to repost loans. Once approved, the loan is available for your free use. Rescheduling is one of the many ways you can do it. The repayment of a foreign loan, as well as the repayment of a loan, must be made in installments. These rates depend on the duration, the total amount of the loan and the debit interest. Debit interest rates on foreign loans that are free of debt are, in most cases, slightly higher than the borrowing rates for loans.