Debt restructuring despite poor creditworthiness.

Are you looking for debt restructuring despite a poor credit rating? We have put together the various options for debt restructuring despite a poor credit rating.

Debt restructuring despite poor creditworthiness – extent of debt restructuring

Debt restructuring despite poor creditworthiness - extent of debt restructuring

Debt restructuring despite poor creditworthiness is possible on a small scale, even without Credit Bureau and as a comprehensive pooling of liabilities. If debt restructuring is desired on a small scale – without Credit Bureau – then only a foreign loan is possible. Nobody has to spend a lot of time looking for a loan.

As far as is known, only a single foreign bank can currently – legally – grant loans to Germans without Credit Bureau. This has been Litebank from Liechtenstein since 2010. The bank was founded because in 2009 the Federal Administrative Court banned previous credit options. Since then, the Swiss loan should actually have been renamed Liechtenstein loan.

With only one credit provider that allows direct application, the services of a credit intermediary are unnecessary. The application can be made a little more conveniently via an intermediary, but there is neither faster nor better credit opportunities. Only one thing is guaranteed, the loan becomes unnecessarily expensive.

Debt restructuring with a Credit Bureau-free loan is only possible through two loan amounts. We offer 3,500 USD of credit without Credit Bureau and 5,000 USD of Credit Bureau-free credit.

Admission requirements for debt restructuring without Credit Bureau

Admission requirements for debt restructuring without Credit Bureau

Swiss loans are only granted to a target group. Only workers who are in employment subject to social security contributions are qualified for a Credit Bureau-free loan. The employment relationship with the employer must also have existed for at least 12 months. Only permanent, permanent employees have a credit chance.

Income from work plays a key role in credit approval because it is the only credit guarantee for the lender. It is therefore clear that debt restructuring is not possible without Credit Bureau, in connection with a garnishment of wages, despite poor creditworthiness. In addition, the future salary must not have been assigned to a creditor. Guarantors or property collateral cannot improve creditworthiness for lending. Conversely, information that can partly be read on the Internet does not apply or no longer applies.

In addition to the income check, a credit check is also carried out via the public debt register. An entry in this directory will automatically result in the loan being rejected.

Credit conditions for direct application

Credit conditions for direct application

A loan without Credit Bureau in the amount of 3,500 USD costs 11.62 percent effective annual interest. To qualify for this loan amount, a single person has to prove a net work income of 1,130 USD. The Credit Bureau-free loan is repaid in 40 equal monthly installments of € 105.95.

The loan amount of 5,000 USD, which is probably more interesting for rescheduling, can be drawn on at the annual percentage rate of 11.61 percent. The minimum income to be demonstrated, again using the example of a single person, must now be 1,600 USD net per month. The loan is repaid in 40 equal monthly installments. The rate in this case is 151.35 USD.

Extensive debt restructuring – despite poor creditworthiness

Extensive debt restructuring - despite poor creditworthiness

Debt restructuring despite poor creditworthiness, in which all liabilities are pooled, is unfortunately not possible without Credit Bureau. The score plays an important role in choosing the source of funding for such a measure. If a score of H can be proven, then it is worthwhile to attempt a loan on one of the portals for private lending. 

Debt rescheduling can be a little longer. It is still worth trying, as private loans are almost always cheaper than the alternative of a credit bank despite their poor credit rating. In addition, the loan attempt is free and has no negative effects on other loan options.

If the choice is made to reschedule a credit bank, the help of a reputable credit broker can be well-invested money. Various German credit banks offer credit options for credit problems. Unfortunately, they do not advertise these options or only subliminally. Reputable credit intermediaries know all the credit banks that could help in this case.

A loan from Cream Bank is offered particularly often for debt rescheduling despite poor creditworthiness. This loan could also be applied for directly. On the side of the loan provider, the debt rescheduling loan is referred to as an extra loan. What is particularly interesting about extra credit is the great flexibility and the long term. The repayment can be extended up to 120 months. The peg on this debt rescheduling loan is the high interest rate. Debt rescheduling despite the poor creditworthiness with the extra loan costs 11.95 percent APR.

Online unemployment loan

Individuals who choose to borrow today have different requirements than borrowers a few years ago. Especially at the turn of the millennium, numerous new providers have emerged on the market who can score with attractive terms, flexible contract design and better access requirements.

Today, borrowing is generally no longer only possible for borrowers with a high income and positive Credit Bureau information. Borrowers who are unemployed, have a negative Credit Bureau or have a low income can also benefit from numerous loan offers on the market. In the online banking sector in particular, many lenders are now making it easy and quick to borrow under flexible contractual terms. The online banks on the Internet have gained a special position as cheap credit providers in recent years.

By dispensing with a lot of staff, an extensive branch system and unnecessary service, many banks with low interest rates and flexible options in terms of duration, use and repayment have been able to establish themselves. Obtaining an online loan in the event of unemployment is not impossible today, making the comparison of several loan offers on the Internet all the more important. Numerous financial portals now help to compare loans.

Secure online credit for unemployment with attractive conditions – not impossible

Secure online credit for unemployment with attractive conditions - not impossible

In order to benefit from an attractive loan offer, borrowers should consider a few factors when making a comparison. In particular, attention should be paid to the distinction between target and effective interest rates. Debit and effective interest rates differ from each other in that the debit interest rate is an adjusted interest rate that does not take individual factors into account. In contrast, the effective interest rate includes the term, loan amount, credit rating and much more. considered.

The creditworthiness is largely defined by the Credit Bureau and the income. The Credit Bureau information should be positive, especially for the unemployed, because with a positive Credit Bureau the credit rating can be significantly improved. With the low social income from unemployment benefit 1 or unemployment benefit 2, unemployed borrowers offer little credit security. If there is a possibility, it makes sense for the borrower to claim additional credit protection, such as a guarantee.

Taking out an online unemployment loan with a short term and a low loan amount makes sense, because a small loan amount entails less risk and a short term means lower capital commitment for the bank, so this is where the best possible effective interest rates can be obtained.

Consider online unemployment loan comparison – loan calculator helps

Consider online unemployment loan comparison - loan calculator helps

The use of a credit calculator for comparison is highly recommended today. Anyone who wants to get an objective overview of the available loan offers is well advised to use a loan calculator. Taking into account the term, loan amount, repayment, use and much more. the search can be made easier and the best loan offer can be filtered out.

Debt restructuring all your loans – Debt consolidation


Debt restructuring, or debt repurchase, is a grouping of credits into one: the new loan is intended to ensure financial balance for the borrower or to finance a new project. When you refinance a loan, you are essentially creating a new loan for the borrower. On the other hand, restructuring a loan means the existing loan is kept, but modified for lower payments so a homeowner can afford to pay their monthly statements. Can you restructure all your loans?

The different types of debt restructuring

The different types of debt restructuring

The restructuring of home loans is intended to take out a more advantageous loan to shorten the repayment periods or to reduce the monthly payments and thus breathe. The disadvantage in the latter case is that the cost of credit will increase if the remaining repayment period is small. The borrower will again pay interest which he has already paid. He must also provide in the restructuring operation for the payment of the penalties provided for in the contract for the early repayment of the capital remaining due. These penalties correspond to 6 months of interest or a maximum of 3% of the capital remaining due. The gain obtained must therefore cover these costs.

The restructuring of consumer loans is possible in the context of over-indebtedness, but not only. Any borrower may want to lower their monthly payments if their income has decreased, to maintain a certain standard of living, or if they wish to find cash to finance a new project. The maximum term of the new credit in this case is 12 years. The rate is also higher than that of a mortgage. It is therefore necessary to compare the different offers with a broker for example.

Among the various restructured loans, there may be a mortgage and one or more consumer loans.

Debt consolidation

Debt consolidation

Debt consolidation excludes home loans. It only concerns consumer loans and credit cards. Generally, it intervenes in the context of over-indebtedness, to avoid personal bankruptcy. Debt consolidation is difficult to obtain: the borrower’s credit rating must be good. The borrower therefore has an interest in not waiting for an over-indebtedness procedure to be initiated, or in not being prohibited from banking. Any filing at the bank will penalize him severely.