Payday loan relief

Progressive debt relief payday loans -Quick and easy payday loan relief

A payday loan consolidation is increasingly being chosen by people to ease their busy daily lives and improve their financial situation. The reasons may be different, but most are chosen in situations where borrowers have difficulty paying off several small loans and want to combine them to pay off all the loans in one installment.

Have you ever taken out a loan and then seen a much better deal? Also in such a situation, credit consolidation will be the right choice as it will allow you to switch to a lender offering more favorable credit terms.

How do you find the right refinancing offer to get the most out of it? Here’s a simple, easy-to-follow five-step guide to consolidating to help you find the best deal.

Quick and easy payday loan relief

Step # 1: Determine Your Refinancing Goal

Before you start looking for the payday loan relief, you need to read It will make it a lot easier to find the right offer if you know first hand what conditions to focus on and what to ignore. In addition, it will also help you avoid offers that aren’t really appropriate for you. 

What are the most common refinancing goals?

First of all, if you have problems with paying off your debt, then the goal will, of course, be to successfully settle your debt.

Second, if you have no problem paying off your loans and all your payments have been made, then you need to understand what will be a higher priority in your case – extending the repayment term or reducing your monthly loan payments. If you want to know more about defining refinancing goals, check out our article “Use Refinancing and Combine Loans Wisely!”.

Once you understand the purpose of refinancing, it is easier to find refinancing deals that will benefit you. The range of offers is really great, but keeping your priorities in mind will help you determine what works for you and what doesn’t!

Find Refinancing Offers

After successfully setting your goals, the next step in the refinancing process is finding the right deals. However, as with any other purchase of goods or services, it is important to consider several offers and their individual benefits.

Yes, refinancing offers are really numerous and easy to get confused, so it’s a good idea to find some, like three or five, that you think might be appropriate for your purpose. It doesn’t matter if at first several offers look similar – later on, you can understand which one’s are the most advantageous.

Remember, if you devote your time to getting to know the details of the offerings, you will already be the winner, because you can be sure that you have made the right choice! If you want to know more about responsible borrowing, check out the Consumer Protection Center website.

Evaluate the credit pooling offers according to your plans

Step # 3: Evaluate the credit pooling offers according to your plans

The third step is to evaluate refinancing offers. Ask – what to do to find what you need? First, you can start researching on the internet, such as creditor websites. The easiest thing to do is to start researching with loan calculators, as you will have an idea of ​​what interest rate and amount of money to take into account in this particular case.

After that, it is important to look at the interest rates, redemption times, amounts offered, commissions and monthly service charges for each offer. Comparing these criteria with one another will quickly remove offers from your list that are not really suitable for you.

During the refinancing bid evaluation phase, be sure to pay attention to various conditions or non-enforceable requirements that will not be reflected, for example, in the loan calculator.

Always check the refinancing terms offered by the lender! If you have any questions or if the nuances are not fully understood, feel free to take the opportunity to contact the lender’s customer advisors or go to the lender’s nearest customer service center. It is their responsibility to explain the information provided clearly and simply and to answer any questions you may have!

However, if it seems like it takes too much time to evaluate your offerings and you are not sure how to deal with it, you can rely on dedicated credit comparison platforms to do the work for you. How best to do it? Choose a financial comparison platform, fill in all the necessary information and you will find the most relevant offers that you can evaluate and compare accordingly.

But remember, it’s important to choose financial comparison platforms that have positive reviews and work with multiple partners. This will provide additional confidence in the accuracy of the resulting offers.

Once you find and evaluate offers that meet your goals and requirements, you should evaluate what other benefits your particular lender offers. For example, whether the advice and other issues can only be solved over the phone or have a face-to-face credit specialist who will tell you in detail, evaluate your financial capabilities and the benefits of re-crediting.

Those wishing to apply for online recrediting should check whether it is possible to apply online for a particular creditor and to conclude the contract remotely. For example, several credit institutions offer a contract through a courier, which means that you do not have to go to their branches. At this stage, it is important to deduce what is more convenient and profitable for you!

Apply for Refinancing

The fourth step in the refinancing process is applying for a credit pool. This is definitely one of the easiest steps if you’ve taken the previous steps responsibly and carefully. The options for applying for refinancing are many and vary between lenders. Most offer online application forms, which include your personal information, loan repayment period, outstanding amount, and overdue amount (if any).

Many non-bank lenders provide the option to do so over the phone or at their customer service centers. Be sure to prepare the documents you need in advance – the contracts you have signed, your proof of identity, and any other paperwork you received when you got the loan.

Conclude a Refinancing Agreement and Get Money

Step # 5: Conclude a Refinancing Agreement and Get Money

Once you have selected a specific offer, read and evaluated all the necessary information, and completed the application, the final step is to conclude a refinancing agreement. You can choose how you want to receive it and sign it. In most cases, two options are offered, firstly, on-site contracts by going to a customer service center, or secondly, by remote delivery, without additional charges. Once the contract is concluded, you will receive the money within a few days or hours (depending on the credit institution) and your re-credited liabilities will be extinguished.

Online loans for bad credit

Consolidation Loan or Balance Transfer: How to Choose

Paying off the debt is never easy. But lower interest rates and smaller payments can alleviate your burden.

When it comes to joint consumer debts such as credit cards and personal loans, two of the most popular ways to lower your rate include balance transfers and debt consolidation loans.

What is the difference between those options and which is the best? They both have pros and cons, but you can make an informed decision once you understand the costs and how your debt is currently configured.

Credit Card Balance Transfers

Credit Card Balance Transfers

With a credit card balance transfer, move your debt to a new or existing credit card. To do this, your credit card company can offer promotional convenience checks or you can request the transfer online. Credit card balance transfers are the most attractive when you know that you can pay off the debt quickly.

In a best-case scenario, you can pay no interest on your debt, at least for a limited time. Getting rid of the interest charges helps to stop the bleeding because your loan balance stops growing, and 100 percent of every payment goes toward reducing your debt. But it is crucial to understand the terms of your offer.


Find out if you have to pay a fee to pay balances. The costs are often around 3 percent of the amount you transfer, or a flat amount in dollars – whichever is greater. Any savings that you get from a lower interest rate will have to relate more than to the transfer fee. You would also be on new annual fees if you open a new credit card.

Interest rates

The best interest rates are available for customers with good credit. You might see tempting offers in advertisements, but make sure to view what the card issuer actually offers you after viewing your credit. Even if you were 0 percent in April, that rate wouldn’t last long. Check to see when the speed changes and what happens after the promotion period ends. In some cases you have to pay your balance during the promotional period to avoid deferred interest charges.

your Credit

Balance transfer offers are not necessarily bad for your credit, but they can cause problems. Every time you apply for a new card, lenders look at your credit history, and those questions can thing your credit scores. Having too many consumer accounts (such as credit cards) opened can lower your score. If you end up using credit card balances, you need to use them as a debt payout tool not a debt increasing tool. Avoid using the card you paid to get deeper into debt.

Debt consolidation

Debt consolidation

Instead of using credit cards, you can consolidate debt with a personal loan, a type of secured loan, or a P2P loan. A large loan would allow multiple loans, be combined and get everything in one place. Debt consolidation loans often come with a fixed interest rate, so they make more sense if credit card promotional periods are too short. For example, a 0 percent April offer for three months may not be useful if you expect to pay your debt for three years.


You may or may not have to pay upfront fees for a debt consolidation loans. With some loans, you will see obvious costs, such as processing or initiating fees. With other loans the costs will be invisible, but they are built into the interest. Compare different loans to the combination of upfront costs and interest charges that you will find the most benefits.

Interest rates

The price you pay depends on the type of loan you use. A personal unsecured loan will have a higher rate than a secured home equity loan, for example. However, you will probably have a rate that is lower than standard credit card interest rates – but “teaser” or promotional credit card rates should be even lower, at least for a few months to pay interest.

If you plan to pay off the debt for several years – which is longer than any credit card promotion – you might do better with a debt consolidation loan. The interest rates can be variable, which means they will move up and down like credit card rates, or they can be set. Fixed rates make it easier to plan because you know what your monthly payments are for the entire duration of the loan. But fixed rates usually start out higher than the variable interest.

your Credit

As with credit cards, new loans lead to questions that can affect your credit scores, at least in the short term. In the long run, a number of debt consolidation loans can potentially be better for your credit than balance transfers.

Credit scores are higher if you use a mix of different types of credit, and the installment loans make you more attractive than a borrower based solely on credit cards. If you are a heavy credit card user, it seems that you are spending your means for consumer goods and paying high interest, which is not sustainable.

A debt consolidation loan might suggest that you have made a commitment to pay off debts, and you use the right type of debt for that purpose. That means you are a smart borrower, so you have the chance to repay other loans in the future. As long as you make payments on time and only on debts that you can afford, your credit will strengthen.

Pledging Collateral

Pledging Collateral

For some debt consolidation loans, you may have to pledge collateral. That means you give the bank permission to take your assets and sell them if you fail to repay the loan. For example, you might consider your home property as part of a home equity loan, or you could use your car as collateral.

Keep unsecured loans unsecured: Collateral can help you get approved, but pledging your assets is risky. What if things don’t work the way you planned — can you live without your house? Can you get to work and earn an income without leaving your car? It is best to keep unsecured unsecured loans because the only risk is your credit. If you have a home equity loan to pay off unsecured credit card debt, you will increase your risk dramatically. If something unexpected happens, you can lose your home in foreclosure.

Refinancing secured loans: If you already have debt that is covered by collateral, consider refinancing these loans separately. For example, use a balance transfer or debt consolidation loan for unsecured debts, and get another loan for your secured debts. That said, if you can pay off guaranteed debts and turn them into unsecured debts, you will reduce your risk – but make sure it is not worth any additional costs.

Student Loans: Be careful

Student Loans: Be careful

If you have student loans, do some homework before consolidating these loans or paying them off with a personal loan. Government loans offer unique benefits, such as the possibility of loan forgiveness or the possibility to postpone payments. If you refinance or consolidate with a private lender, you can lose access to those borrower-friendly features.


Credit 1000 USD instantly with Financial Credit Institutions

If you have come here looking for “ credit 1000 USD instantly with credit institutions ”, you have come to the right place because we are going to introduce you to 2 financial entities that currently offer credits of 1000 USD instantly even if you are in credit institutions and that currently have an offer in The first loan is free (without interest) even if you are in a delinquent registry. They are the following:

Credit of up to 1000 USD at the moment even with credit institutions to be paid up to 31 days. No payroll is necessary, just have demonstrable income such as: payroll, pension, unemployment benefit, rental income, etc… credit institutions does not matter if it is for a debt that is not with banks or financial entities and is less than 1500 USD. They currently have an offer in which the first credit is free (0% APR)

  • Be of age
  • Resident in Spain
  • Holder of a mobile line
  • Not having debts registered in credit institutions for more than 1500 USD
  • Have some type of demonstrable income
  • Be the owner of a Spanish bank account

Credit of 1000 USD instantly with credit institutions even to pay up to 30 days. No payroll is necessary, just have recurring income such as: salary, unemployment benefit, pension, income from rental of homes or premises, etc…. They accept credit institutions if it is for a debt of less than 1500 USD. They have a promotion in which the first loan is free (0% interest)

  • Be over 21 years old
  • Residence in Spain
  • Holder of a mobile line as well as providing a second line during registration (landline or mobile)
  • Not having debts recorded in delinquent records for more than 1500 USD
  • Have some type of periodic income
  • Be a bank account holder

Credit of 1000 USD instantly with credit institutions. How to get it?

Credit of 1000 USD instantly with credit institutions. How to get it?

The procedure to grant you a loan in 15 minutes of 1000 USD even while in credit institutions is very similar in all cases.

First of all you have to enter the website of the financial institution to access the form where you must indicate the desired amount and the time in which you want to return it (you can do it from the buttons below).

Then you will go to a page where you will be asked to fill in your personal and economic data. To finish you will have to press send to evaluate the viability of your credit.

Finally, within 15-20 minutes you will receive a response to your request.

If the answer is yes, in most banks your credit of 1000 USD instantly with credit institutions, the transfer will be immediate and you will have the money in your account in less than half an hour.

Advantages and disadvantages of requesting a loan of 1000 USD at the moment with credit institutions

Advantages and disadvantages of requesting a loan of 1000 USD at the moment with credit institutions


  • First free credit (0% APR)
  • Speed ​​of grant (in more than 95% of the applications approved the money is in less than 30 minutes in the account of the applicant)
  • Procedures from home
  • Being in credit institutions does not limit your chances of obtaining credit


  • If the debt registered in credit institutions is very high, you may be denied credit
  • In case of default the commissions are high

Debt rescheduling | Consolidate existing loans

Many consumers are burdened with loans that have been taken out in order to be able to implement long-cherished wishes, important projects or large investments. If these loans can be repaid quickly, since the loan amount is short and the term is short, they are not a major problem. They disappear from life just as quickly as they entered it.

However, if the loans are large and have a very long maturity and the budget has been over many years, it can sometimes be advisable to consider rescheduling existing loans after a few years. Because there is always a lot of movement in the financial sector, which can also be determined in the effective interest rate, for example, if you do not react here, you will sometimes have to raise more money to repay the loan than would actually be necessary.

When it makes sense to reschedule existing loans

When it makes sense to reschedule existing loans

Debt rescheduling is always a good idea if you can save money with it. The effective interest rate is constantly on the move. What was advertised as a cheap effective interest rate when the current loan was taken out no longer has to fall into this category. The banks keep coming towards their customers and offer ever better loan offers. On the one hand, competition forces them to do so. On the other hand, the banks themselves get their money so cheap that they can pass it on cheaply.

Therefore, check what the current effective interest rate you have to pay for the current loan is. Then find out about the current interest rates and decide whether debt rescheduling would be an option for your loan.

This is the easiest way to reschedule existing loans

This is the easiest way to reschedule existing loans

Before considering debt rescheduling, you should seek out different offers from other banks. You also have to check whether the current bank enables you to reschedule a debt, i.e. to prematurely redeem the current loan. As a rule, this must be agreed in writing when applying for the loan. Therefore, take a look at the loan agreement to find out which regulations have been made with regard to special payments, early redemption and debt restructuring.

If such an option has been considered from the start, it may well be that you will not incur any additional costs for rescheduling existing loans. This means that the bank accepts free special repayments and therefore free early redemptions.

If this is not the case, fees for rescheduling will be incurred by the old bank. You must find this out in advance in order to be able to calculate exactly the conditions under which a debt rescheduling of current credit must take place so that it is worthwhile. If the fees are very high, the lower interest rate that you may be offered with a new loan may not be enough to cover the fees. So you save nothing and the effort with the debt restructuring is not worth it.

Furthermore, you should always have signed a new loan contract with the loan amount required for the debt rescheduling before you cancel the old contract. Every now and then it happens that, for reasons of creditworthiness, no new loan contract is concluded. If you had already terminated the old contract in advance, you would have to look in such a case where you can quickly get the money you need for the transfer. Not an easy task, which will not only require a lot of nerves, but also an extremely large amount of money. So wait before you cancel the old contract and only do so when you have the firm commitment in the form of a new signed loan contract in your hands.

Also inform the old bank that you want to reschedule the current loan. It is not uncommon for them to submit a new loan proposal, which does not necessarily have to be worse than the offers that you receive from other banks and savings banks. Compare exactly and pay attention not only to the effective annual interest rate, but also to the most flexible repayment options possible. Because who knows: Maybe you want to reschedule the new loan agreement at some point.

Quick loan – This is what you should be thinking about

A broken car, a leaking roof on the summer cottage roof, or a crying need for a sun holiday with salty baths. There are many reasons why you need money right away. Fast loans are just fast loans, where the whole process from application to payment goes away. In some cases, the person with a payment note may also be able to borrow, since no credit report is made. It may sound tempting, but there are some things that are extremely important to consider before taking a quick loan.

What is a quick loan?

What is a quick loan?

A fast loan is a fast loan that can be granted and repaid almost as quickly – 30 days is a regular repayment period. Typical examples of fast loans are SMS loans, micro loans, telephone loans and other short-term loans. Fast loans, not least SMS loans, have been talked about and criticized in recent years. The criticism is often due to the fact that people who have not been able to repay the loans on time have taken additional quick loans to pay off the previous loans, which has led to a fall in debt and payment remarks.

What are the differences to private loans?

What are the differences to private loans?

The interest rate

There are some important differences between fast loans and unsecured loans. Mortgages generally have a higher interest rate than private loans. Sometimes fast loans are offered interest-free, but this usually means that the fees are high. Therefore, be sure to check what fees are available and check the effective interest rate. It is also important to remember that the quick loans usually indicate the interest rate on a monthly basis. For private loans, instead, the interest rate is set annually. Therefore, it is good to recalculate the interest rate of the fast loans to the annual rate for a clearer comparison.


The repayment period also differs, for private loans it can vary between 1-15 years, while a fast loan must be repaid quickly, often within a 30 days. The short repayment period increases the risk of getting into a vicious spiral where you are forced to take out new loans to repay the old loan.


We say you borrow $ 5000 with an SMS-Loan. The repayment period is 30 days. The loan is offered interest-free, but a fee of $ 395 is added. This gives a monthly interest rate of 7.9% (395/5000). If you are going to convert the interest rate to the annual interest rate, you can multiply the monthly interest rate by the number of loan periods per year. There are 12.17 loan periods per year (365/30).

This gives an annual interest rate of 96.12% (7.9 x 12.17). The effective interest rate on the loan will be even higher, it will be 152.21%.

It is an interest rate that is vastly higher than what you can get with a private loan.

Quick loan with direct payment

Quick loan with direct payment

Quick loans are often able to mean the payout goes just as quickly. Sometimes you have the money in your account within 24 hours. A private loan is also paid off quickly, but you usually have to wait some extra day. When you apply for a private loan from Astro Finance, you have to wait two days after the lender receives your signed loan agreement before the money is in your account.

Why take a quick loan?

If you really need to have the money the same or next day and you absolutely have no other options, a quick loan can solve a temporary need for money. In some cases it is also possible to take quick loans despite payment remarks, which can be a savior in need if all other possibilities are excluded. In some cases, the banks also allow you to take out a quick loan without UC, this to speed up the process as much as possible.

Disadvantages of quick loans

A major disadvantage is that fast loans often become much more expensive than unsecured loans. Although the interest rate may be low, or if the loan is “interest-free,” it is important to pay attention to the fees as well. They may seem low, but since the loan amount is also not very high, the effective interest rate is still high. Also, keep in mind that if you do not repay the loan within the agreed time, it may be even more expensive.

The short repayment period is also a disadvantage. Keep in mind that you will be able to repay the loan within the agreed time. You should definitely not take a quick loan to pay off another fast loan. This is a common debt trap that you should really avoid. If you already have several expensive quick loans, it can instead be smart to collect your loans and credits into a new, cheaper private loan with the help of Astro Finance.

Alternative to quick loans

Alternative to quick loans

If it is about small amounts, it may be wise to first ask a good friend or family member if you can borrow money privately from them. You can often get such a loan directly and are often free of interest for real.

If you need to borrow a larger amount of money, unsecured loans are a good alternative. To find your best loan, do your best in comparing the lenders first. Astro Finance is a loan broker that helps you compare the lenders so that you find the best interest rate and loan terms when applying for a private loan. When you decide on a loan that suits you, the lender will pay the money out within two days. A tip for those who want the payment to go as quickly as possible is to sign with BankID – then the lender gets your signature directly and you get the money faster.

Do you have a payment note? Even if you do, we make an effort to find a bank or lender that can offer you a loan. A condition that you have a fixed monthly income of at least $ 10,000.

Benefits of comparing lenders

Benefits of comparing lenders

As you have understood, there are both pros and cons of quick loans. Remember that when you take out a private loan you should compare the lenders first. All lenders specialize in different types of customers. Therefore, it is not possible to say that one specific lender is better than another in advance. That is why it is important to compare different loan offers to find which lender is best for you!

If you, as a private individual, go to several different lenders to compare the terms, they each take credit information on you at UC. This affects your credit rating and can impair your ability to get a really low interest rate. If you choose to compare with Astro Finance, only one credit report is made at UC. The service is completely free of charge and you do not commit to anything when you make a comparison. Instead, Astro Finance gets paid directly by the bank or lender when we can help them get a new satisfied customer.

10000 USD credit | Where to borrow money


Many people want a larger loan of around 10,000 USD. With this, they could have a great vacation, finally buy a car or renovate their apartment and fundamentally refurbish it and finally live the way they always wanted. But where do you get a 10,000 USD loan from? Astro Finance’s loan calculator provides helpful answers. The offers shown here are calculated with a credit term of 48 months.

Best Lender to get a loan

Best Lender to get a loan

The Capital Lender performs best with a 10,000 USD loan. The German Citibank successor demands installments of 226.72 USD. These result from an annual percentage rate that starts at 4.29 percent and goes up to 10.99 percent. The acceptance rate for loan applications at Capital Lender is around 80 percent. This promise of getting a loan is immediate, so immediate. The previous customer response underpins the seriousness of the offer. 89 percent of credit customers at least found the offer good. In total, the Capital Lender receives nine out of ten possible points from its customers.

The loan offer from Lite lender is just behind. For a 10,000 USD loan, the house requires an annual percentage rate that can range from 4.35 percent to 10.90 percent. This means that the loan would have to be paid back in monthly installments of $ 226.98. The acceptance rate for loans in this amount is 50 percent at Lite lender. The promise is made immediately. 85 percent of the customers found the service of the house and the handling of them at least positive. This results in nine out of ten counters for Lite lender.

The third best offer for a 10,000 USD loan comes from Cream Bank. Due to an effective annual interest rate ranging from 4.40 percent to 11.95 percent monthly rates of 227.20 USD. The loan approval is also made immediately by Cream Bank. The acceptance rate is 70 percent. 91 percent rated the house good or better. Thanks to this great response, Cream Bank received the top grade with ten out of ten points.

You have to meet these conditions for a 10,000 USD loan

You have to meet these conditions for a 10,000 USD loan

All banks emphasize that inquiries are Schufa-free. This means that you do not have to worry about your own entry in the protection association for general credit protection because of the request. In any case, the real loan application can only be sent to the financial institutions by post-identification. A withdrawal is previously impossible. The creditworthiness is decisive for all financial institutions. This term stands for credit repayment ability and is roughly derived from income minus living expenses. Of course, your own credit rating will be much better if you sign the loan application not in person, but in pairs. That is why all banks recommend this step and note that both the approval of the loan and the interest conditions would then be much better.

Online loan comparison | What are the benefits of the loan?

Those who want to take out a loan these days have many options. Actually it can be said “far too many”. The increased number of credit institutions that can offer all people a loan has also created a tariff jungle. It becomes confusing and unmanageable, so that the person in need of credit quickly takes out a loan that is significantly more expensive than with other providers. This can be avoided with a credit comparison.

Make the loan comparison online

Make the loan comparison online

Loan offers were also compared earlier. Because of the clear number of banks that had their branch on site, the loan seekers did this themselves. Today, the effort would simply be too great. Credit comparisons are therefore offered online and can be carried out by anyone. The most important thing is that they are non-binding and free of charge. Otherwise, very few would do it.
The website for the loan comparison states which details must be given to the calculator for the comparison:

  • Loan amount and
  • Term or desired monthly rate,

With these two points, the calculator can calculate the conditions of the banks. The result will then be available online. As a rule, the comparison computer sorts them directly so that the cheapest are the first to be seen. The more expensive a loan will be, the lower it will be found.

Pay attention to the benefits of the loan!

Pay attention to the benefits of the loan!

However, the costs alone should not be decisive for the conclusion of a loan agreement. The services that the credit institution offers on the loan should also be included.

So it should first be looked at whether the interest rates depend on the credit rating. This can mean that they do not apply to every borrower. Only customers who have excellent credit ratings receive this interest rate. The worse the credit check will go, the higher the interest will be.

It can also be decisive for the quality of the loan whether the banks allow special repayments. Many borrowers want to reduce the remaining loan amount with special payments during the loan term. However, since the banks lack interest income, not all banks will allow this. And if they allow it, a fee may also apply. Borrowers who care about this should pay attention to this in comparison.


Debt rescheduling | Debt restructuring with guarantors


Debt is no longer a rarity in today’s fast-moving world. Everyone wants to live a good life and “belong”. Go on vacation, have a chic apartment and a great car and use the latest smartphone. However, this consumption, which is encouraged by the wide range of possible uses, means that many consumers become indebted at some point in their lives. They are no longer in control of their spending, can no longer pay their debts, and continue to move towards debt faster and faster. Once this has occurred, there are hardly any ways out of the vicious circle. It is therefore important that a reaction is made in advance in order to save what can be saved.

If the debt can be identified in good time, a debt rescheduling with guarantors can be seen as an escape from the impending debt. However, in order for this debt restructuring with guarantors to succeed, it is important that the response is not only timely, but also correct.

The reasons for debt restructuring with guarantors

The reasons for debt restructuring with guarantors

Debt restructuring with guarantors is the last straw for many consumers to hold onto and that will keep them from ruin. The debt rescheduling may become necessary because old installment loans or consumer loans that have to be paid at the moment are subject to unfavorable interest rates or represent an excessive monthly financial burden. If this already leads to the fact that the payment obligations associated with the loans can no longer be met, you have to react particularly quickly.

On top of that, the overdraft of the checking account, the full use of the overdraft facility, open invoices and the threat of insolvency are very common reasons for rescheduling. Also an existing real estate loan, which is to be provided with follow-up financing through a new loan.

The most important key data for a debt restructuring with guarantors

The most important key data for a debt restructuring with guarantors

If you want to reschedule debt because existing loan agreements are too expensive or there are too many of them, you will first find little understanding and mutual love from the lending banks that provided the loans. Because they see the money, which they earn with the help of the interest, always wane. It can therefore happen that the loans can only be redeemed early with a financial surcharge. In addition, the banks may have notice periods for early redemption. These can be up to six months.

It will be a little easier if the new loan is taken out from the bank that is already servicing the old loans. This means that less money is lost for the bank and the customer is retained. If the conditions offered for the new loan are better than for the old loan, there is nothing to prevent debt restructuring within the bank.

Why debt restructuring with guarantors and not without guarantors?

There are several good reasons for a debt rescheduling involving a guarantor. On the one hand, the guarantor helps get better loan offers from the individual banks. The banks and savings banks are always happy when several people take out a loan together, as they also have several contacts if there are problems with the repayment. And even if the guarantor is not a second borrower, he is liable if the actual borrower becomes insolvent.

But there are also advantages for borrowers if a guarantor is included in the debt restructuring. It increases his credit rating, which in turn will have a positive impact on the annual percentage rate. The loan is cheaper and the monthly installments are lower. And as long as the loan is serviced regularly and in full, there is no risk for the guarantor. This is because the bank will only ask the cashier if there is really nothing to get from the actual borrower.