A debt restructuring makes sense if the interest rate is cheap. Debt restructuring means replacing a current loan with a new one. A debt rescheduling makes sense if a loan comparison shows that the current interest rate is significantly lower than that contractually agreed for the current debt. Who actually writes and advises here? About us On this page Debt rescheduling When does new credit make sense? How does debt restructuring work? Compare loans directly
What if you do a loan comparison and see that the current interest rate is significantly lower than what you have agreed on your current loan? Then you can carry out a so-called debt restructuring.
The lender, regardless of whether it is a bank, savings bank or other credit institution, may charge a fee of 1 percent of the current remaining debt if it is terminated prematurely. If the remaining debt is 7,000 dollars, the fee is 70 dollars. This also applies to online loans.
More about credit When does a new loan contract make sense?
Whenever you will pay less in total despite the fees mentioned. You should therefore keep an eye on all costs for the new loan, as well as those for the old one. For old debts, this is the sum of all interest still to be paid plus the fees for early termination. The new lender is all about the amount of interest payable on the remaining debt.
This applies to consumer loans in the form of car loans, installment loans or other forms of financing. The situation is somewhat different for real estate loans. If a mortgage loan is canceled, the lender may request prepayment penalty. In this case too, the calculator helps to clarify whether the effort is worthwhile.
Find and apply for an online loan using the free and non-binding comparison calculator.
How is debt restructuring going?
It is not particularly difficult to find out whether a new loan agreement can save money. The Internet is particularly helpful here. Feel free to use our free credit calculator above to compare loans directly.
If you want to make it even easier for yourself, you can use the help of a credit agency. Such an intermediary will not only make an offer to the customer, he can also support him with his know-how in all steps up to the new loan agreement. Ultimately, whether you use the help of a credit broker is a question of price. If the intermediary is rewarded by the bank with which the customer concludes his credit agreement, there are no additional costs. If the customer is to pay a fee for the mediation, this should often use up the savings to be achieved.