My WordPress Blog Thu, 14 Mar 2019 16:58:27 +0000 en-US hourly 1 Loan For Rescheduling Despite Private Credit – Clever Debt Repayment Thu, 14 Mar 2019 16:58:27 +0000

The lending rates are still on the decline. Anyone who pays off an older loan quickly curses. Today, an identical loan would be much cheaper. A rescheduling would be a way to benefit from the favorable interest rates. However, it becomes a problem with negative Private credit. However, it is by no means impossible to get a loan for rescheduling despite Private credit. Here we would like to help you.

Loan for rescheduling despite Private credit: What does “rescheduling” mean?

Loan for rescheduling despite Private credit: Why problems with the Private credit

In a rescheduling you take on a new loan and pay off the old loan completely. From now on you pay off the new loan. So you benefit from the low interest rates. However, there are a few things you need to look out for when rescheduling. Generally speaking: The debt restructuring must be really cheaper for you.

Therefore, the so-called prepayment penalty has to be considered first of all. This is a penalty. You have to pay them for the early repayment of the old loan. It is covered by law. If the old loan runs for a further 12 months or more, it will not exceed 1 percent of the balance. If the old loan lasts one year, the prepayment penalty is 0.5% of the balance. Caution: These limits do not apply to real estate loans. The prepayment penalty can be set freely by the bank.

Loan for rescheduling despite Private credit: Beware of maturity

But not only the early repayment penalty can make the loan more expensive and make rescheduling so pointless. You also have to pay attention to the terms. A loan can have lower interest rates but be more expensive. As an example, you pay 10,000 euros for one year at 3 percent interest. So you have to live with 300 euros interest costs. Or, you could take a 10,000 euro loan at 2 percent interest for 2 years. You pay 404 euros interest. The burden would be 104 euros higher. Accordingly, rescheduling makes no sense.

Loan for rescheduling despite Private credit: Why problems with the Private credit

One question you can justify with a loan for debt restructuring, despite Private credit: If a debt restructuring is cheaper, why are there any problems with the Private credit? After all, you reduce your debts. Basically, you will temporarily take out an additional loan. At this point, the bank does not yet know that you are planning a rescheduling. Debt rescheduling loans can also be very high. Accordingly, your credit rating is insufficient to justify lending.

Loan for rescheduling despite Private credit: How to convince the bank

Loan for rescheduling despite Private credit: How to convince the bank

The easiest way to get a loan for rescheduling despite Private credit from your bank. With house bank is meant the money house, where the previous loan exists. Share this with your plan. And give your legal agreement that the bank will carry out the debt restructuring automatically. Especially with significant savings, the money house should not cross. To secure the repayment finally.

For foreign banks, it gets a bit more complicated. These too should inform you about your plan. Luckily enough, this also means that you contractually assure that the new bank will do the debt restructuring itself. You will never have access to the funds. You can not use the money for a different purpose. Unfortunately, the new bank demands collateral or a guarantor for lending.

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Debt Consolidation: Rescheduling of loans Wed, 27 Feb 2019 09:56:26 +0000

A prerequisite for debt rescheduling is that existing loans can be repaid early. This basically applies to installment loans, while loan agreements for real estate financing may restrict or exclude special repayments.

The most common reason for rescheduling existing loans is in more favorable interest rates on the new loan. In some cases, bank customers may want loan remittance without interest savings as they are reliant on lower rates and the current lender has declined the requested term extension.

The process of debt restructuring

The procedure deviates from the debt rescheduling of the payment of money for consumer loans taken up by the new lender, if possible, the direct transfer of the individual amounts on the existing loan accounts and balances them. For this purpose, the applicant asks the contracting parties to date the amount of the redemption amount, including any prepayment interest. The direct transfer of funds to the current credit accounts rather than to the current account of the applicant ensures that the customer actually uses the money to reschedule existing liabilities and not to increase the volume of credit. Without this certainty, the new bank would have to carry out its budget statement for safety’s sake with the existing monthly installments and the new loan installment,

A part of the money goes into the account of the borrower also with a rescheduling of credits. This applies both to the partial amount intended to compensate for the current account and to any top-up amount that can generally be applied for in connection with the repayment of existing credit agreements. Some credit card issuers do not allow third-party payments, so the new lender also transfers the amount provided to clear the card account to the customer’s bank account.

What claims should the new loan fulfill?

Many banks require a rescheduling of loans that the customer includes all existing liabilities in these. Exceptions are most likely for zero-percent financing and discounted loans such as a car loan. For most consumers, rescheduling all existing liabilities makes sense. In other cases, in a credit comparison, borrowers also pay attention to which financial institutions accept the partial inclusion of the existing loans.

When calculating the savings on a planned debt rescheduling, consumers look for both the reduced interest rates and the prepayment rates that may be payable for the early redemption of existing loans. If this bill does not show actual savings, a loan remulture due to interest rates is not recommended.

A loan debt loan should not only be linked to low interest rates but also to a flexible repayment. This includes both the option for special repayments and the right to install rates every twelve to twenty-four months. An alternative to permitted installment breaks is the contractual commitment to change the repayment plan during the term at the request of the borrower. The fact that current customers of a bank in blog posts and on review portals praise the compliant behavior towards corresponding requests does not replace an amendment clause in the loan agreement. After all, any financial institution can at any time unilaterally change the voluntary rules of goodwill.

In the search for a loan for a rescheduling, prospective customers encounter special debt rescheduling, the interest rates are reduced compared to the standard interest rates of the same bank. The advantage over non-earmarked installment loans does not in any way preclude a competition bank from offering special loan repayment loans but generally requiring lower effective interest rates.

Sufficient long maturities and consequent low monthly installments are important for loans for rescheduling existing debts, so that the bank customer does not have to resort to loan repayment on the repayment credit during the term of the loan. Provided that the borrower has free funds, he will use the ideally existing option to make free special repayments. This also allows a rescheduling if interest rates continue to decline in the future.

Credit debt with bad credit

An interim private credit application does not lead to a termination of current credit agreements if the bank customer duly settles the installments for the specific installment loan. However, the negative feature makes it difficult to accept a new loan and, as a result, a planned rescheduling. If this only serves to save interest, the new borrowing is not mandatory.

If borrowers with negative private credit are reliant on debt rescheduling because of non-payable installments, they face considerable challenges in rejecting their loan application. The appointment of an experienced credit intermediary in many cases causes the requested banks to agree to a loan debt with a soft private credit negative entry.

Another option for debt rescheduling is organized personal credit. This can be applied for on the respective platforms both for interest savings and for the absolutely necessary reduction of monthly installments. From experience, according to experience, investors registered there as lenders prefer to record the requests from social considerations, whose adjusters depend on debt rescheduling because they can no longer afford the previous loan installments.

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Tax Peace for debts up to 500 thousand euros Fri, 22 Feb 2019 03:08:01 +0000

Among the issues that are stirring the political debate there is no doubt the question of the so-called ” fiscal peace “, a real mantra of the League during the election campaign. Well, after the inclusion in the DEF with consequent skirmishes within the majority that supports the Conte government in the following days, today Matteo Falcon has returned to talk about the topic, with statements that will only re-ignite the political debate.

Falcon re-launches fiscal peace for debts of up to € 500,000

Falcon re-launches fiscal peace for debts of up to € 500,000

During an interview granted to an important Italian radio broadcaster, Vi cepremier and Minister of the Interior Matteo Falcon has returned to talk about one of the most thorny topics among those that are animating the political debate of recent weeks, namely that related to the fiscal peace or amnesty, as defined by those who oppose it, which the Government has included in the DEF.

The Minister of the Interior, during the aforementioned interview, has announced that the fiscal peace will concern all debts whose amount reaches up to 500 thousand euros and that the idea of ​​the Government is to put in place an intervention to balance and excerpt, with which we will intervene not only on the chapter of interests and sanctions, but also on capital. The measure does not yet have the crisma of the official, because it is still in preparation in the rooms of the technicians of the Ministry of Economy, but Matteo Falcon has assured that the Italians will not be faced with a classic work of “scrapping” of the tax assessments, but to an intervention that, using a football metaphor, will be stretched outstretched.

Because Matteo Falcon does not want to talk about “scrapping”

During the interview Matteo Falcon explained why defining the intervention to study as a “scrapping” is an error. The Minister of the Interior has put the accent on how the scraps go to affect, as regards the tax collection boxes, on aspects such as penalties, interests and more. The Minister of the Interior believes that instead he should also intervene on the capital, because according to him, if a person “does not have 40 thousand euros, he does not even have 35 thousand”.

The idea of ​​the Minister of the Interior is that the tax peace proposed by him will not benefit those who have not made the declaration of income and then has in the garage luxury cars, but will go to facilitate all those Italians who during the time have always made the declaration of income, but for several reasons have found themselves having to deal with the tax records impossible to pay. The Minister of the Interior to better explain what is the audience of taxpayers who according to him will benefit from the so-called “fiscal peace”, gave the example of those who have been forced to close their business or who had to make debts to help a child in need.

Will Falcon’s proposal find space in the Government?

In short, the idea of ​​Falcon is to recover at least a minimum part of what is required by the State and the League leader seems certain that his proposal to bring to 500 thousand euros of debt the maximum threshold within which you can have access to “peace” tax “will find room in the government and will eventually be accepted by the Five Star Movement. This idea, according to some, is given by the fact that Luigi Di Matt has obtained assurances regarding the funds that will be made available to the income of citizenship. However, it should be emphasized that much of the base of the Five Star Movement would probably struggle to support such a measure, considering that up to a week ago Di Maio first said that the maximum ceiling within being able to access the “fiscal peace” or amnesty, as defined by those who oppose the provision, would have been 500 thousand euros.

This is the reason why the proposal of Matteo Falcon at the moment must be defined as such and not a real measure to study the Government, although the technicians of Via XX Settembre to work on the provision. Now all that remains is to wait for the next few days, which will be the decisive ones not only for the Budget Maneuver in general but, more specifically, also for the ways in which “fiscal peace” will come to light. What can be said with certainty is that we could see a hard confrontation in the Government, given the very distant positions of the League and 5 Star Movement.

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