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<\/span><\/p>\nHow a debt restructuring takes place<\/h2>\n
First of all, you have to find a new lender and ask him for a loan in the amount of the remaining debt for the old loan and the newly needed money. At the lender where the new loan is applied for, one must indicate that a part of the loan is to be used for the rescheduling of the old loan.<\/p>\n
To do this, the lender must be informed of the name bank and the processing or account number. The new lender will then contact the other bank and request a so-called balance confirmation. Once the credit check is completed, the remaining balance with the old lender is then cleared and the difference to the total loan amount is transferred to the customer's account so that the money can be disposed of.<\/p>\n
What else to consider<\/h2>\n
However, debt restructuring is not possible or advisable for all types of loans. Thus, in the case of very long-term loans, where a fixed interest rate for a certain period of success, such as regularly for real estate loans, a so-called early repayment penalty is due, which can amount to a considerable sum depending on when the loan is to be redeemed. In such a case, the borrower would be much worse off with a debt restructuring than without the debt restructuring.<\/p>\n
The reason for requiring a prepayment penalty by the bank is that it has to refinance differently for the term of the loan and thus it may incur a loss. A termination without prepayment penalty is possible for long-term loans only after 10 years.<\/p>\n
Tip: In Austria, loans can be deducted from taxes if certain conditions are met. The loan installments are then credited with the annual tax return on the taxes to be paid.<\/p>\n
What to consider in case of a Schufa entry<\/h2>\n
If someone has received a Schufa entry, for example, because he has paid a bill late at some point and therefore received a reminder, he will still get a loan from many providers, provided that he can pay the installments from his salary and the old bill has long since been settled. It is important that after deducting the credit installment, rent and other running costs, there is still enough money left to live on. Who, on the other hand, so-called hard features in the Schufa to stand, such as the application for an enforcement order or an ongoing private insolvency proceedings will not get a loan against it.<\/p>\n","protected":false},"excerpt":{"rendered":"
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