Consumers have a wide range of loans. It is used to advertise everywhere, be it on the Internet, on television or in newspaper advertisements. It seems easy to get a loan when it comes to debt restructuring, but it’s not as easy as many think. for clarification

Loans are offered here that are supposed to be quick and uncomplicated, but those who cannot meet the criteria will not receive a loan. It is particularly difficult for those who have a negative Credit bureau. For banks, a negative Credit bureau always means that the credit default risk is very high. Loan applications for debt restructuring are often rejected despite Credit bureau because banks shy away from this risk.

Negative Credit bureau – borrowing possible?

Negative Credit bureau - borrowing possible?

It is not uncommon for banks to reject a customer if they have a negative Credit bureau and do not grant a loan to replace another loan. In this case, the customer often did not get enough information, because it is quite possible to reschedule despite Credit bureau. A negative Credit bureau means that the customer has a bad credit rating.

However, he can improve this poor creditworthiness himself if he offers the bank collateral. Banks like to see collateral because it means that the risk of default is reduced. Since they make money with credit, they are careful to forgive many too. This also applies to debt restructuring if the customer wants to replace an old loan with a new one.

Collateral – which are required?

Collateral - which are required?

It varies from bank to bank which collateral is required in the event of debt restructuring despite Credit bureau. The most common types of collateral, however, include a loan guarantee and life insurance. Anyone who listens to their private surroundings and gets someone to provide a loan guarantee will receive a loan. However, a guarantor also has to have prerequisites to be accepted as a guarantor.

So a regular income and a positive Credit bureau is particularly important. The guarantor’s salary must be above the seizure allowance so that it can be used as security. However, if you cannot find a guarantor who can secure the loan, you could also use your life insurance. However, this is only possible if it has a surrender value that is the same as the loan amount.