Many consumers think of debt rescheduling whenever there is a real estate loan where the fixed interest rate expires. Since such loans and credits usually go hand in hand with a very long term, an interest rate commitment is agreed when the contract is concluded, which only covers part of the term. The fixed interest rate usually applies for 8 or 10 years. After the time has expired, a new interest rate can be negotiated.
For the borrower, this means that after the fixed interest rate, he has the opportunity to continue the loan on better terms. The bank offering the current loan will make an offer in this regard. However, the borrower can also search for new offers himself. If he finds this, the loan can easily be rescheduled. That is definitely the theory.
But as everyone knows, the theory can sometimes deviate significantly from practice. A debt restructuring can also be interesting if there are several smaller loans that are to be combined into one large loan. Or if there are liabilities in the form of invoices or perhaps even reminders, which can also be summarized and paid for by a loan. Such reasons for a debt rescheduling can usually be justified with incorrect consumer behavior, which can quickly lead to over-indebtedness. If this is imminent and the liabilities may have already left their mark on Credit Bureau, those affected will seek debt restructuring without Credit Bureau. But debt restructuring without Credit Bureau is hard to get. And if it does, then only on unfavorable terms.
Debt restructuring without Credit Bureau in case of over-indebtedness
If there is over-indebtedness, debt restructuring without Credit Bureau can be seen as the last saving measure. In such a case, the victims are faced with the problem that they have lost the financial overview due to several loans or open debts and that the different repayment agreements leave little or no money to cover the fixed costs. However, since the rent and electricity have to be paid and the refrigerator should also be filled, the repayment agreements are only carried out loosely, which has led to the present over-indebtedness.
In order to really escape the over-indebtedness, all liabilities and loans have to be combined. If you pack this into a large loan, which is at best equipped with a long term and low interest rates, the old creditors can be serviced directly and you only have to take care of one creditor through the one loan.
However, since the banks in Germany only grant a loan if Credit Bureau has not noted any negative entries, no debt restructuring can be carried out in our beautiful country without Credit Bureau. To do this, one would have to take a look abroad, which hopefully has the ideal solution.
A debt restructuring without Credit Bureau through a foreign loan
In the small Principality of Liechtenstein there are some banking houses that specialize in foreign loans. However, these are provided with fixed specifications. For example, only small loans of € 3,500 and € 5,000 are offered. These must be repaid to the bank within 40 months. The interest rate is fixed and is therefore not based on the personal requirements of the borrower.
This does not have to fear Credit Bureau’s query, since this cannot be done from abroad. However, he must be able to demonstrate a fixed and attachable income. In addition, there must be a permanent residence in Germany. The loan can be conveniently ordered online. The money is transferred to a previously specified reference account. In the event of default, the bank is entitled to seize the borrower’s income. This also comes from abroad.
The foreign loan for debt restructuring without Credit Bureau is therefore a good alternative. However, this alternative cannot simply be used without hesitation. Anyone who is interested should therefore be aware that even a foreign loan has many obligations that borrowers have to take care of.