In the case of debt restructuring, previous loans are replaced by a newly taken out loan. This makes sense if the savings from the significantly lower interest rates are higher than the prepayment penalties to be paid for the old loans.

The rescheduling of existing liabilities is also useful if a reduced income makes it difficult to pay the loan installments and the previous contractor has refused to request an extension of the term. A bad Credit Bureau exists if there is at least one negative entry.

Despite the bad Credit Bureau, the debt restructuring can succeed

Despite the bad Credit Bureau, the debt restructuring can succeed

Financial institutions are more likely to grant a debt rescheduling than a new loan despite bad Credit Bureau, since it does not increase the total debt of the customer. Some financial institutions generally refuse to grant Credit Bureau negative characteristics for debt restructuring, while other credit banks consider the individual case.

They usually approve a loan for debt rescheduling despite bad Credit Bureau if it is a single soft negative feature and the loan seeker believes that the punctual payment of the loans to be restructured is credible. Financial institutions do not pay out the money to a debt customer in the event of a debt rescheduling despite poor Credit Bureau;

An exception applies to accounts to which third parties are not allowed to make payments in accordance with the contract and for the settlement of the overdraft facility. A ban on third party deposits applies to some credit card accounts. As an alternative to German credit banks, a loan for debt restructuring can also be taken out from Swiss banks.

They do not make a Credit Bureau request anyway and therefore do not learn that there is a bad Credit Bureau. Swiss debt rescheduling loans are applied for through a credit intermediary, since direct lending by the federal banks is limited to loan amounts of up to $ 3,500.

Behavior after debt restructuring

Behavior after debt restructuring

Existing lines of credit, such as credit card accounts and the overdraft facility, usually remain even after a bad Credit Bureau has been forfeited. Ideally, so that consumers do not accumulate large debts again after a debt rescheduling despite bad

Credit Bureau, they should not use the framework credit granted before the debt rescheduling loan has been repaid in full. In particular, they make sure that they can pay the installments from their income without having to use the overdraft facility that was initially balanced as part of the debt restructuring.

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