The remaining debt of your current loans / installments. It is therefore a good idea to bundle and restructure your current obligations in a loan. Repayment of loans, leases or general debts. So check out what ongoing costs should be repaid with a new loan.
Reduction in borrowing costs through restructuring
Bonds are much cheaper today than they were a few years ago. Those who compare the offers well and reschedule an old loan that has become too expensive with the help of a new and cheaper loan will from now on pay less interest and save a lot. Loans are part of everyday life. The debt restructuring models are as simple as they are effective: the loan contract, which becomes too expensive, is terminated and the outstanding amount is repaid in a single amount from a new loan on more favorable terms.
Example: Leonard L. pays a monthly installment of $ 237 for his old lending business at 7% effective interest. If he finds a cheaper bid, he pays the remaining debt of $ 12,000 with the help of a new loan at 3% interest. With the same monthly rate, the new loan volume is repaid about 6 months earlier, with interest expenses Leonard L. saved an impressive $ 1,348.
As part of the debt restructuring, it is also possible to combine several old loans into one advantageous individual loan. Even an expensive current account can be offset with a cheap installment loan. Please note, however, that anyone wishing to reschedule short-term loans should take into account the possible termination costs (“prepayment penalty”); an insight into the contract documents provides security here. Note: For consumer loans taken out since June 11th, 2010, the insurer limits the early repayment penalty to a maximum of 1.0 percentage points of the total debt – you do not have to recognize higher claims.
Are you paying too much for your current balance?
Debt Restructuring – Debt Restructuring Debt Restructuring
Debt redeployment can be considered for companies with multiple short-term loans and different funding options. In the case of rescheduling, short-term loans are merged into just one loan, hence the term rescheduling loan! This can also be a rescheduling of a construction or real estate loan. In the event of an intended debt rescheduling, there should therefore be an insight into the amount of the loan liabilities.
Ask your loan application here for a planned rescheduling, one of our banking partners always has a good takeover offer for you during the internship! Put your financings and loans together to save costs and interest. You can settle the interest rates with one another immediately upon receipt of our offer.