In the case of debt restructuring, an existing loan is replaced by a new one. Whether installment loans or mortgage lending – borrowers can currently save a lot of money by rescheduling existing loans.
Debt credit now and save
Who doesn’t have it? Plans, dreams and ideas. In order to achieve this, money – and the associated credit – often plays a crucial role. Banks and other lenders provide important information for financing your own home, a new car or the long-awaited piece of furniture. Those who are smart and knowledgeable can save a lot of money. And also when rescheduling an existing loan – whether construction finance, overdraft facility or a loan that is too expensive – there are currently rewarding and secure options.
Low interest rates make it possible
The current financial situation is optimal for borrowers. You get good and fair conditions through low interest rates. The repayment rate can be higher or the term can be shortened. This in turn brings advantages for the amount of the loan. A loan and repayment calculator can already provide an initial overview online. If you want to save money in the long term, you should also consider rescheduling an existing loan or combining several loans.
Save a lot of money every month with a cheaper loan
No matter whether it is an installment loan or a mortgage. Regardless of whether an overdraft facility is to be settled or, for example, an expensive food processor is being financed. In any case, rescheduling or refinancing existing loans can significantly reduce the monthly charge on the account. Debt restructuring should always aim to relieve the financial burden on the borrower.
It doesn’t work without a budget bill
In order to be able to identify possible savings potential, a detailed household calculation of monthly and annual expenses and costs is always useful. On the one hand, this overview helps to find the ideal loan rate. On the other hand, these figures can later be presented in conversation with potential lenders. This saves one work step and the borrower is well prepared all round.
Compare conditions for more security
In order to be able to really take full advantage of a debt rescheduling, the new loan should definitely have better terms or better credit terms. It is therefore worth asking for offers from various banks or lenders. For mortgage lending, for example, there are practical interest checks to ensure the best conditions. Many companies provide safe tips and information on other topics related to finance.
Score with the interest rate development
Those who find out are always clearly at an advantage. You don’t have to be an expert to perceive the current interest rate situation as positive for borrowers. But in addition to comparing the individual bank or lender offers, it can also be helpful to get an overview of the interest rate developments in recent years. Of course there is no one who can look to the future. But the current situation and past developments clearly show that it is currently worth comparing or repaying loans.
The right time for debt restructuring – the specialist helps
Everyone has to make the decision to reschedule a loan or several ongoing loans. Especially when there are several older loans, you quickly lose track. High interest rates, low repayment rates and generally unfavorable conditions often blow deep holes in the wallet. But that need not be. Whether a debt rescheduling makes sense depends, among other things, on what the current interest rate is. And generally it is important to first redeem loans with high interest rates. The best conditions for this are a stable economic situation and low interest rates. If you are not sure whether the time is right for a debt restructuring, a specialist can help.
Debt Credit: The 10 most important steps at a glance
- View current loans
- Determine the need for debt restructuring
- Create a budget bill
- Compare conditions from possible lenders
- Carry out an interest check
- Contact lenders and banks – a professional can help
- Obtain multiple offers
- make decision
- Apply for a loan
- Set the time for the loan change