Loan restructuring under credit bureau
Anyone who has a loan with a long term and a large loan amount to serve, which will bring the time here, on which the first time about debt restructuring can be considered. When this time is accurate, must be read in the loan agreement. As a rule, however, the banks and savings banks only allow debt rescheduling after several years. After all, they do not want to lose their clients to a cheaper bank too soon. And even if many consumers carry out the debt restructuring within the old bank, this step always means that a financial loss must be budgeted for the bank.
Because the goal of debt restructuring is always a financial relief for the borrower. Either in the form of a reduction in the effective interest rate or a reorientation of the monthly installments to be used around the loan.
However, to be able to reschedule, the borrower does not have to go looking for another loan offer. He must also meet all the requirements for debt restructuring. And this is usually more difficult than expected. Because rescheduling requires a good credit rating
It does not work without a good credit rating
In not a few cases, however, borrowers are struggling with credit bureau. Over time, negative entries have crept in or the credit weighs so hard that he turns the credit bureau into negative. Therefore, a loan for a debt restructuring must be sought despite credit bureau. A task that is not necessarily easy.
Because the banks and savings banks demand a good credit rating. Even if a loan for debt restructuring is sought despite credit bureau. Only a good credit rating can keep the default risk around the loan at an acceptable level. For the banks, this is very important, especially for large sums of money. So if a loan for debt restructuring, despite credit bureau be included, this will only succeed if the borrowing can be secured with a guarantor.
The guarantor required for this must necessarily have a positive credit bureau. He should also be in close relationship with the borrower. Many banks want the spouse or another family member in this context. Wherein the spouse – if available – is requested directly at the start of the actual loan.
On top of that, as a borrower, the loan for rescheduling should provide additional security despite credit bureau. This can be given for example by a term life insurance or a residual debt insurance. Which insurance variant fits best, must be clarified individually, since the personal conditions and circumstances of the borrower play a very large role in the decision-making.
It also seems important in this context that debt rescheduling should only take place if it represents a significant relief for the borrower. Since this credit bureau is negative, it may be that debts have accumulated. If a rescheduling is possible, then the debts should flow directly into the debt restructuring, in order to clear these out of the way and to make the credit bureau shine in a better light again. Because these are needed very often in life, so they should always be of a positive nature.