mangakoe.com http://www.mangakoe.com My WordPress Blog Thu, 28 Feb 2019 12:20:30 +0000 en-US hourly 1 https://wordpress.org/?v=5.1.1 Debt Consolidation: Loan repayment without private credit http://www.mangakoe.com/2019/02/28/debt-consolidation-loan-repayment-without-private-credit/ http://www.mangakoe.com/2019/02/28/debt-consolidation-loan-repayment-without-private-credit/#respond Thu, 28 Feb 2019 12:20:30 +0000 http://www.mangakoe.com/2019/02/28/debt-consolidation-loan-repayment-without-private-credit/

Bank customers can repost an existing loan without asking a private credit request. The prerequisite is usually that they take their new loan from a foreign bank, as the German banks with each borrowing in principle make a routine request to the private credit.

Contrary to popular belief, not all domestic banks reject any credit request with private credit without further examination. Rather, some institutions expressly point out that rescheduling them is also possible with a soft negative after a case-by-case assessment, so that the consumers concerned are not always dependent on a non-scholar credit.

In principle, a loan can be reposted by lending a life insurance policy without the need for a private credit request. Finally, the policyholder guarantees the repayment of the insurance loan with his own payment entitlements. In practice, however, only a few bank customers with negative entries in their credit report have a life insurance coverable. The Riester pension is eliminated, because in their lending the state allowances are repaid.

What conditions must the debt restructuring without private credit request meet?

If bank customers redeem a loan, the new loan should be cheaper than the existing loan even without a private credit request. This is conceivable even if the current loan liability was taken up in a conventional manner with the participation of the German credit protection. If it turns out in a bid comparison that the debt-free debt rescheduling no savings compared to the current loan, bank customers simply renounce the rescheduling.

Such a waiver is not possible if the bank customer is necessarily reliant on lower monthly installments and his current bank has rejected an extension of the contract period. In this case, he would like to repay the loan, even if he has to pay without private credit request no lower interest costs than the previous contract. The aim of debt restructuring in this case is not to save money through lower interest rates, but to be financially relieved by a lower monthly rate.

When calculating the savings before the debt-free rescheduling, bank customers take into account, in addition to the interest, the prepayment interest that may be payable for the early repayment of the previous loans.

The procedure for loan repayment without private credit

The procedure for loan repayment without private credit

When bank customers redeem their existing loan without a private credit request being made, they usually turn to a credit intermediary. He hands this request on to financial institutions in Switzerland and other countries. The Swiss federal banks make the payment in euros, while banks from other non-monetary union countries usually lend in their local currency and thus for the German customer as a foreign currency loan. In such a case, the actual amount to be repaid depends on the exchange rate development.

Bank customers recognize that a credit intermediary works reputably, that he does not charge for the desired private credit-free rescheduling any initial costs, but only a reasonable success commission with actual cash payment.

The debt-free rescheduling loan, like any rescheduling loan, is not included in the customer’s current account, but is transferred directly to the existing loan account or, for several existing loans, to the current loan accounts. In conjunction with the rescheduling of an existing loan without private credit, the simultaneous settlement of the disposition credit can be used. The foreign bank transfers this subarea as well as a possible top-up amount to the current account of its customer.

Ideally, the new loan is not only cheaper, but also more flexible than the previous bank loan. For borrowers who are reliant on a debt-free debt restructuring, especially the possibility for an occasional rate suspension is interesting. Some loan agreements provide for such once a year or two years. The supplementary right to free special repayments offers the possibility to reclassify the new loan after some time, if lending rates fall sharply in the future.

The organized personal loan without private credit for rescheduling

In the case of organized personal loans, it does not necessarily mean, without private credit, that the platform operator or the full-scale bank acting as official lender for legal reasons waives the solvency request. What is meant in this case is rather that the content of the private credit information is not displayed to the potential private lenders. Hiding the bad credit is only useful for multiple entries, because the private lenders prefer complete information on the personal and financial situation of the applicants.

Private lenders have the best chance of receiving their request from applicants who repay their loan due to the unsustainable monthly installments without providing the private credit data. In this case, members are more comfortable with the need to lend than with a loan request, where the hiring party only wants to save on interest costs.

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Debt consolidation: explanation, example and simulation http://www.mangakoe.com/2019/02/22/debt-consolidation-explanation-example-and-simulation/ http://www.mangakoe.com/2019/02/22/debt-consolidation-explanation-example-and-simulation/#respond Fri, 22 Feb 2019 04:24:45 +0000 http://www.mangakoe.com/2019/02/22/debt-consolidation-explanation-example-and-simulation/

You borrowed, but your debt was quite reasonable given your income. But, you have suffered a decline in income and you have trouble balancing your finances because your debts have accumulated.

Know that if your income does not reach a sufficient level again, you can solve your problem by applying for a credit for debt consolidation. debt consolidation is an operation in which you are given a new loan so that you can pay off all your debts and start on a sound financial basis.

Examples of debt consolidation

Thus, if you have a car loan for which you have to repay another € 5,500, a bank overdraft amounting to € 1,800, a personal loan for which you still have to repay € 1,700 and late payments totaling 3,000 €, your needs total € 12,000. In this case, know that you can find a healthy cash with a loan of 12 000 €.

If you choose a term of five years for this loan and if its overall effective rate is 9.9%, your future monthly payments will amount to 252 €. Therefore, if you rent your home and your monthly rent is € 600, your total debt would be € 852 per month after the implementation of your debt consolidation loan. This credit could therefore be granted if your income is at least equal to € 2,566 per month.

But it is essential to ensure that your monthly debt remains less than a third of your income after the implementation of your new credit. As a result, you may need to look for an apartment with a lower rent.

Debt consolidation simulation

Debt consolidation simulation

In order to know in advance if your application is likely to be accepted, it is interesting that you calculate the amount of credit you need. As a result, you should visit a website where you will find a calculator to simulate your future monthly payments.

Restructuring file

Once you have made your calculations, you will have to prepare your debt consolidation loan application. In particular, you must make copies of all documents that attest to the amount of your monthly income. In addition, credit institutions will ask you for copies of the documents showing the monthly payments and the remaining capital due for the loans that you have not finished repaying. Finally, you will also need to provide copies of your ID card, your last quarter’s bank statements, and your home occupation title. If you are an employee, you may also be asked for a copy of your employment contract.

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A 40,000 Loan, How Much Do You Have to Give Back? | Consolidation and Cash Loans http://www.mangakoe.com/2019/01/11/a-40000-loan-how-much-do-you-have-to-give-back-consolidation-and-cash-loans/ http://www.mangakoe.com/2019/01/11/a-40000-loan-how-much-do-you-have-to-give-back-consolidation-and-cash-loans/#respond Fri, 11 Jan 2019 16:54:48 +0000 http://www.mangakoe.com/2019/01/11/a-40000-loan-how-much-do-you-have-to-give-back-consolidation-and-cash-loans/

A 40,000 loan, how much do you need to pay at the bank? No matter if it is a cash loan or a consolidation loan, you will still need to pay much more than you borrowed.

A cash loan allows you to implement any plans that are not related to running a business. It is true that this is a quick opportunity to borrow extra money, but regardless of the time we borrow, it will be expensive anyway.

A 40,000 loan, how much more do you have to pay? It depends, of course, on the credit proposal in the bank. How much we give away more than the € 40,000 borrowed depends on the total cost of the loan.

Below is an estimation of the loan of 40 thousand euro. Cash loan of 40 thousand, how much more you need to pay:

  • 1 year – € 1631,
  • 2 years – € 3062,
  • 3 years – € 4525,
  • 4 years – € 6020,
  • 5 years – € 7547,
  • 6 years – € 9104,
  • 7 years – € 10,694,
  • 8 years – € 12 314,
  • 9 years – € 13 964,
  • 10 years – € 15 646,

Below is a list of banks in which you can ask for a cash loan of € 40000:

A consolidation loan of 40,000 to be paid to the bank

A consolidation loan of 40,000 to be paid to the bank

In the case of consolidation loans, the total costs should be slightly lower than in the case of cash loans and cash loans. This is due to the fact that consolidation loans are lower than interest on cash loans.

This does not mean that we can choose the first-best bank. Actually, we can choose it if the loan offer does not matter to us.

To sum up the answer to the question: a credit of 40,000 to be given back , the answer will depend on the total cost of the loan. The bigger it is, the more expensive it is and the more we have to give it to the bank.

And how much do you have to earn to get a cash loan ? It all depends on the amount of credit and the time we intend to borrow.

To search for the cheapest loan of 40 thousand euro, pay attention to the APY of the loan. APR covers the total cost of the loan, along with the interest rate per annum. The actual Annual Interest Rate includes all the basic costs that we will be required to pay in connection with the loan granted by the banks.

Admittedly, the APR does not take into account additional charges (eg costs of reminders, fees charged for delays in paying installments, etc.), but it is still the best and so far the most objective tool for comparing credit.

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