Expensive Credit Rescheduled


Those who bundle their loans can quickly save several hundred to a thousand USD. The preliminary comparison helps to find a low-interest loan offer. Conditions of the banks compared ⇒ Cancel old loans. A debt restructuring (loan repayment) can also benefit borrowers who rely on old and expensive loans. The one who wants to replace his expensive loan with a cheap debt rescheduling loan, should also specify “debt rescheduling” as the purpose of the loan request.

Expensive loans should be rescheduled.

Expensive loans should be rescheduled.

Before the monthly interest payment on expensive overdrafts or high lending rates, the consumer should think about whether it makes sense to debts. This saves a lot of costs. An installment loan is a loan with a fixed interest rate and a fixed term, which is repaid the same amount each month.

Depending on the need and the creditworthiness of the debtor, the loan is awarded in net loan amounts between 5,000 and 50,000 USD (but there are also credit institutions that grant larger loans). The customer receives the entire loan amount (disbursement amount) for free disposal for private use, as no special purpose is specified for a grant loan application. The installment loan can therefore also be used to replace existing loans by other credit institutions.

You either have the entire amount transferred to your own bank account or you instruct the new lender to use it to repay existing loans. For this purpose, a letter must be requested in advance from the principal bank listing the balance of the loan to be canceled. Who has a binding offer that can be saved in contrast to an existing installment loan, should not hesitate to repost its loans.

Rescheduling – replacement of expensive loans at low cost – that’s how it works

Rescheduling - replacement of expensive loans at low cost - that

Whether new furnishing, expensive mobile phones or just during the holidays – the consumers in Germany want to spend their money. But many things are bought on credit. Especially popular: the expensive disposition on the current account. However, the high interest rates are not only annoying, but often led to a debt trap. In an emergency, the solution: Reschulden.

Which loan for rescheduling? If the current account is in the red range or the price is too high, rescheduling is appropriate. In any case, it is worth comparing the interest rates of different lenders. In the case of an on-line loan, submit your loan application through the bank’s web portal. Wait for the new house bank to approve the loan before canceling the old loan.

In the disposition, the capital from the debt rescheduling loan is only transferred to the account. For this purpose, the current loan is reposted with a new one. The house bank can charge a so-called early payment fee. This is to be seen as compensation for unrecognized interest income, which is eliminated by rescheduling. The amount of the compensation may not exceed a percentage of the loan amount.

The notice of termination will be provided to BayernLB bank customers. The remaining loan amount, the interest still to be paid and the advance payment compensation are calculated by BayernLB. The total claim amount and the repayment date are communicated to the bank customer.

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