Debt restructuring can be used to replace expensive loans with a new, cheaper loan. In principle, it makes sense if the interest savings are higher than the costs for any prepayment penalties. A bad Credit Bureau says that there is at least one negative entry. In addition to the possible savings in interest rates, rescheduling makes sense if the customer has to lower his monthly charge and the previous contractual partner refuses to change the repayment agreement.
The practical process of a debt rescheduling
The new contractual partner does not transfer the new loan taken out as part of a debt rescheduling in bad Credit Bureau to the customer, but directly settles the existing credit accounts. The only exception to this is if individual accounts do not allow incoming payments through third-party transfers, which applies to some of the credit card accounts. The portion of the debt rescheduling loan intended to settle the checking account is naturally also included in this. Extremely cheap or interest-free loans such as dealer loans do not necessarily have to be integrated into the debt rescheduling in bad Credit Bureau, but some debt rescheduling banks require that their customers replace all existing liabilities.
Who owes debt?
The debt customer has a strong negotiating position when rescheduling bad Credit Bureau, since a loan has already been paid out. Some domestic financial institutions specializing in debt rescheduling also replace existing loans if there is a soft negative entry in the Credit Bureau information. As an alternative to German credit institutions, rescheduling in bad Credit Bureau can be carried out via Swiss banks. The federal institutes do not carry out a Credit Bureau request and are therefore not aware of any negative entries. Debt rescheduling in Switzerland can be applied almost exclusively through a credit intermediary, since the amounts incurred are too high for direct lending by a federal bank.
The intermediary can be regarded as reputable if he only charges a reasonable commission for the mediation of the debt rescheduling and no preliminary costs. Organized personal loans can be used for a loan repayment, but most of the lenders registered there prefer to write loan inquiries when there is an urgent loan requirement, while they are less happy to fulfill loan requests that only serve to save costs.