You will not get a loan for debt restructuring despite Credit Bureau at your house bank or another credit institution in Germany. For the German banks, a clean Credit Bureau is the most important criterion for lending. If this is not available, no cooperation on the part of the banks is desired. This is a very difficult situation for the borrower concerned. On the one hand, he would like to reschedule debt in order to save money and be financially free. On the other hand, no financial institution grants him this possibility, so that the difficult financial situation can sometimes worsen.
We will show you how you can still take out a loan for debt restructuring despite Credit Bureau. Where you can find suitable offers and what you should pay attention to when using them.
Why debt restructuring?
Debt restructuring is an interesting thing for several reasons. On the one hand, you can ensure that existing large loans that have been running for several years are given a cheaper interest rate. In the case of real estate loans in particular, interest rates are usually fixed for a certain period of time. However, this period does not coincide with the term of the loan and is significantly shorter.
If the fixed interest rate has expired, the bank will give you the option of rescheduling. This means that you can go in search of a better deal to redeem the old expensive loan early. And without having to pay penalty interest and high transfer fees.
The bank that looks after the old loan will also offer you a new loan offer for a loan for debt restructuring despite Credit Bureau. You should always use this as a comparison option for other offers. Because the bank will in all likelihood make you a very good offer because it does not want to lose you as a customer. You should only change banks if another bank has an even better offer. Otherwise, you should make the debt rescheduling directly with the bank that is currently servicing the loan.
By the way: If debt restructuring is not possible due to the defective Credit Bureau at the current bank, you should look for a guarantor or a second borrower who will help you with the debt restructuring. This is easier than looking for alternative offers.
A second reason for a loan for debt restructuring despite Credit Bureau is always the accumulation of already accumulated debts. Whether these are in the form of multiple payment agreements or are currently presented through multiple open invoices is secondary. It is important that several creditors can be converted into a large creditor with the help of debt restructuring, which you only have to take care of after the debt restructuring.
What can a personal loan do?
With a loan for debt restructuring despite Credit Bureau, Credit Bureau often stands in the way of normal borrowing. Only those who can activate a guarantor or a second borrower will get the loan for debt restructuring despite a Credit Bureau at a classic bank. Everyone else could look for a personal loan, among other things.
A personal loan is a cash benefit that is provided by private donors. These private donors can be found on portals on which the donors are brought together with the borrowers. For you as a borrower, this means that you have to register on one of these portals to describe your loan request. Do this in as much detail as possible and also describe why you are seeking debt restructuring. Also provide collateral that you can include in the loan.
If a sponsor is interested in your project, they will contact you. You can then negotiate the terms around the personal loan and sign the loan agreement. You would then have your money in your account within a few days.
However, keep in mind that even a personal loan does not work without collateral. In addition, you will not be able to activate extremely large loan amounts in this way. Rather, with a personal loan you will have to limit yourself to a small loan. Just as is the case with a foreign loan.
What about a foreign loan?
A foreign loan is granted by banks from abroad and also does not require Credit Bureau to ask. In this way, loan amounts of up to $ 5,000 are possible, which can be applied for directly from the banks. The market leader for such loans is Lite Lender from the Principality of Liechtenstein.
It enables a loan to be rescheduled in spite of Credit Bureau of up to 5,000 USD with an effective interest rate of 11 percent and a term of 40 months. As a prerequisite, you as a borrower do not have to have a good Credit Bureau. However, a relatively high income from a permanent job, a permanent residence in Germany, an account with a German bank and a minimum age of 18 years. You will only be entitled to a foreign loan if you succeed.