Account Settlement Loan – Did the dispo get out of hand?

A credit to balance the account should straighten out the little “misstep”?

Establishing the account balance with installment credit is the most effective and lowest-interest solution. We will show you what is important for your individual loan, where there are pitfalls, how to overcome hurdles.

Account Settlement Loan – Tailored Loan Solutions

Account Settlement Loan - Tailored Loan Solutions

A credit for balancing accounts can prove to be a simple “home game” or can turn into a great challenge. Every individual case requires tailor-made credit solutions. Borrowing to balance the account is particularly easy when prospective creditors can carry out their debt rescheduling under good credit conditions.

The overdrawn account alone is not an obstacle to credit. The overdraft facility even shows that the house bank has established a basic credit rating. If she still urged the overdraft facility compensation, positive motives can be assumed. Overdraft facilities are the most expensive financing option of all loan models. The request for overdraft facility compensation may have been made under the sign that the debtor saves rescheduling interest payments.

Instead of having to pay overdraft interest in the double-digit range, the loan to balance the account could only cause a fifth of the loan costs. Instead of paying $ 360 interest for $ 3,000 overdraft facility, the right installment loan would reduce the financing costs to $ 52.80 per year. Nevertheless, the friendly advice should not tempt you to take out an installment loan with the house bank without a previous loan comparison.

Finance overdraft facility at low interest

Finance overdraft facility at low interest

Comparing prices is more worthwhile with no other product than with money. A loan from Munich compensates for the overdraft facility as much as that from Bielefeld or Flensburg. The decisive factors are the loan terms and the interest rates offered. The loan comparison calculator offered free of charge on the Internet offers an easy game for loan comparison. The operation is always the same, in principle, despite different providers.

Simply enter the desired loan amount and term anonymously, adjust the intended use if necessary, and the loan comparison runs automatically. If the account settlement via regular installment credit does not tolerate a delay, pay special attention to credit offers with Videoident. The new procedure drastically reduces the waiting time for the expected payment.

If you apply via Videoident, a loan application for online credit can be legally binding within about 30 minutes. The legally binding examination procedure of the requested lender then runs. A credit check, in an automatic process with proof of creditworthiness via the score, only takes about 24 hours. On the following booking day, the required credit for the account settlement can already be on the way to the loan recipient.

Account Settlement – Credit Crunch Poor Credit

Account Settlement - Credit Crunch Poor Credit

Unfortunately, not everyone whose overdraft facility is to be settled can underpin their loan request with a good credit rating. The problem with overdrafts is that it is easier to get approved than an installment loan. Even if the credit rating is somewhat weaker, the bank grants overdraft facilities. It allows overdrafting, although the borrower cannot meet the installment loan requirements. The reason for this can be found in the model of every short-term loan.

Short-term loans can be literally gilded by banks through interest. This creates reserves that compensate for possible loan defaults. In addition, only a relatively small amount is given, which could be due immediately. Overall, the cost risk for the overdraft facility, from the perspective of the lender, is manageable. It only becomes problematic if the house bank loses trust.

Even an internal staffing change, another clerk or a new supervisor can be the background for the reminder for the overdraft facility. Helping the family is the easiest way to avoid having to convert to a special loan. A guarantee loan or a loan together with a solvent co-applicant opens access to regular loan offers.

Special credit for account balancing – bank credit

Special credit for account balancing - bank credit

A good handful of credit providers allow the installment loan to balance the account, although the score does not fully support lending. Special loans can be approved because higher interest rates compensate for the increased credit default risk. Nevertheless, credit with bad credit bureau is not distributed “with the watering can”. In order to receive an account balancing loan, the borrower must pass the individual case test.

In the individual case assessment, the focus of the credit assessment is not on the past. The clerk specifically evaluates, mostly supported by an in-house score, the current situation and future prospects. If the bad credit forecast can be refuted using the credit bureau Score in this way, credit is granted. If this does not work, the bank requests additional collateral or rejects the debt rescheduling request.

Credit from private – serious credit in difficult cases

Credit from private - serious credit in difficult cases

The majority of a bank’s risk credit is only slightly cheaper than the overdraft facility. Especially when looking for loans with poor credit ratings, borrowers have no money to give away. At the same time, it is worthwhile to compare credit between private lenders and bank loans in two ways. The interest rate differentials for offered credit for balancing accounts can be serious.

In addition, credit from private credit prospects offers a real credit opportunity that was rejected for bank credit. The credit brokerage portal Cream bank would be a very good starting point for debt restructuring in difficult cases. The free credit comparison of the credit portal would make it possible to find the credit institutions that also recommend classic intermediaries in difficult cases. At the same time, the portal offers serious access to credit for private account balancing, so that no credit opportunity remains unused.