A loan in spite of credit bureau for debt restructuring can be the first important step in restructuring private finances. Embedding the debt rescheduling in a reorganization concept creates scope for liquidity. This step is not easy and risk-free. The article explains how a debt rescheduling is possible despite credit bureau entry.
Credit despite credit bureau for debt restructuring – objective
Comprehensive debt restructuring is not an easy task. Professional help should only come from a non-profit debt counseling center. If you hire a credit broker or consultant with a reorganization concept, you pay unnecessarily. Debt restructuring is equally successful on your own initiative and with the help of a free advice center. The first step is to define the goal to be achieved. A loan for debt restructuring despite credit bureau is only advisable if the measure leads to a permanent improvement in the overall situation.
To do this, it is necessary to record all current liabilities and transfer amounts precisely. The data is compiled on a list. Only when everything has been recorded is added up. The result is a shock to many. Hardly anyone correctly estimates the amount of personal debt. There are two different ways to search for a loan. It is self-directed or the help of a credit broker. Above all, the costs speak for trying to do it on your own. Even a reputable credit broker cannot work for nothing. He calculates an average of around three percent of the loan amount for his performance.
Fair interest rates are the best prerequisite for achieving effective debt restructuring costs. For a debt rescheduling loan despite credit bureau, it is therefore advisable to try out private donors first. The large portals for private lending also charge a commission, but with a little luck the base rate can be cheap. Long terms that ensure a low rate are not uncommon for private investors. The size of the portal can favor implementation. A private loan is always granted in the bidding process. Of course, whether it works depends on the number of possible bidders. The two largest portals on the German credit market are called Fine Bank and Agree Bank.
Bank loan despite credit bureau – problems and risks
A loan despite credit bureau for debt restructuring is not an everyday loan request that would be viewed by any credit bank. Debt restructuring is quickly rejected if there are creditworthiness problems. Finding credit through a credit intermediary appears to be unproblematic. However, with a view to the media, this path is not entirely without risk. Numerous methods are reported to exploit prospective credit with poor creditworthiness. There is no comprehensive protection against dubious people. Only the distrust, the Google research and the thorough study of all contracts and proposals offer a certain protection.
Refurbishment offers should always be rejected. The same applies to any other service outside of credit brokerage. Only a success fee is paid. If the credit broker wants to make a home visit, then only if the visit and the journey are 100 percent free. Everything is also online. With the request for a call back on a service hotline, each credit broker disqualifies himself.
A look at the effective annual interest rates offered should also be very critical. The interest rate level is currently at an extremely low level. Small loans with a normal interest rate of 2.89 percent effective interest are granted. Large sums with long terms cost – regardless of credit rating – 4.95 percent APR. A typical debt rescheduling offer, as is more often recommended by credit intermediaries, comes from that of Fine Bank, for example.
Despite credit bureau, the loan is called extra credit for debt restructuring with this credit bank. Maturities are possible up to 120 months. In return, the loan offer, regardless of the loan amount, costs 11.95 percent APR. This interest rate is at the level of an overdraft rate and maybe even higher. The debt advisor can determine whether it is worthwhile to reschedule at all.
Conclusion – debt restructuring despite credit bureau
A loan for debt restructuring despite credit bureau only makes sense if a permanent improvement in the situation can be achieved. Help for solving this problem should only be sought from non-profit debt counseling centers. Only then will help, as it should be, be free.
Credit brokers know credit solutions for almost every credit rating. Nevertheless, the offers are not always in line with the market. If you are considering a high-priced debt rescheduling loan, you are well advised to have the numbers recalculated. In order for a loan to provide the desired relief for debt restructuring despite credit bureau, it must not be too expensive.