An impending or existing over-indebtedness is always a serious event for a private individual. If personal bankruptcy has not yet occurred, the debtor can, however, reduce the debt on his own and seek debt rescheduling in the event of over-indebtedness.
Rescheduling in the event of over-indebtedness generally makes sense if your own loan liabilities are very high or if they are associated with a high effective interest rate. Numerous credit institutions today offer a loan with a free use or a special loan for debt restructuring, especially with the online banks on the Internet, borrowers can hope for low-interest offers, which can at least significantly reduce the interest costs for the loan.
It is always interesting to use a loan for debt restructuring, but the conditions of the current offer must be compared in advance with those of the potential debt restructuring partner, as this is the only way to save money permanently and to prevent overindebtedness. A comparison can be made as best as possible on the Internet today, and numerous financial portals now allow a free comparison for loans in the event of over-indebtedness.
Debt restructuring in the event of over-indebtedness – this should be noted
In order for the debt restructuring to really have the desired effect and the debt can actually be reduced, consumers should definitely consider the fees for a debt restructuring. It is not uncommon for the current lender to charge rescheduling fees. In addition to these fees, the effective interest rate of the new offer naturally also plays a decisive role. Borrowers should never be blinded by a low borrowing rate when searching, as this is of little significance and gives only a limited idea of the total loan costs.
The effective interest rate, however, proves to be of great importance. The effective interest rate is fundamentally variable and can be influenced by the borrower over the term and loan amount as well as the credit rating. Since existing credit liabilities are backed up with private credit checker information, loans can be used for rescheduling that either serve precisely this purpose or loan offers without private credit checker.
The creditworthiness cannot be negatively influenced by not providing private credit checker information. In particular for loans without private credit checker, income plays an important role in creditworthiness, borrowers with a high and regular earned income can hope for a low effective interest rate. Banks value low risk and low capital commitment. Accordingly, the term and the loan amount should be kept short.
In order to avoid even greater indebtedness, however, your own requirements should never be neglected, especially short terms lead to a high liquidity burden.
Compare with the loan calculator and successfully reschedule if you are overindebted
Loan calculators now allow quick and free comparison of several loan offers. Since individual information on the term, loan amount, usage, income etc. can be taken into account in the comparison, particularly precise comparison results can be achieved here.