Debt Restructuring Loan
98% of German households are in debt and have great difficulty paying their individual installment contracts. The monthly installments often consume the entire income; rent may be overdue, and living expenses can no longer be covered — the consumer lacks the necessary money. A debt restructuring loan can be a way out of this dilemma.
Due to the global financial crisis, interest rates have fallen sharply, so a debt restructuring loan can be offered on especially favorable terms. Those who consolidate their various loans today can expect low interest rates and thus save a lot of money by refinancing. Many customer loans were taken out at a time when interest rates were at a high level.
During the term, the high interest rate remained constant and the monthly installment did not change. The consumer knows how long and what he has to pay, but he does not benefit from the falling interest rate. Especially when moving towards indebtedness, a debt restructuring loan with low interest rates should be considered. Consolidating all loans, obtaining a favorable interest rate and possibly lower installments is worth looking into.
MAXDA: The strong partner
Of course, a debt restructuring loan can also be carried out if the consumer is not facing insolvency. Experienced consumers see what is happening on the interest rate market and react accordingly. If a financial improvement in the form of cash comes along, the debt restructuring loan is a clear advantage for the customer. Some borrowers now ask what they have to do to take advantage of consolidating their installment loans into a single loan.
At your side is MAXDA Darlehensvermittlungs GmbH, a competent and experienced partner in the lending business for its customers. MAXDA is one of the largest financial service providers active in the German market. In addition, MAXDA is not only a provider of loans in general, but real estate business is also a major area for the financial service provider. Since MAXDA focuses exclusively on private customers, we — alongside our high quality advisory services — also offer favorable conditions for our customers.
Advice on terminating loan agreements
Personal loans from €3,000 to €250,000 are brokered for any purpose. Our offer includes not only installment loans but also mortgage loans and loans for civil servants. With express loans we ensure a 100% payout of the loan by post or by bank transfer. Even in difficult cases, few customers are turned away, because MAXDA offers special loans without Schufa and stands by all customers.
Because of the low interest rate that can be granted with a debt restructuring loan, only advantages arise for the consumer. He thus has the fair opportunity to repay his consolidated loan. But it must be said that to benefit from a lower interest burden, the right debt restructuring loan must be found. This should not be the only consideration, because the termination modalities of existing loans will very likely have special termination conditions. Financial institutions often require prepayment penalties to compensate for lost interest.
Caution should be exercised here, because the prepayment amount can turn out to be so large (depending on the remaining term, the loan amount and the interest rate) that the borrower ultimately has more debt than before, despite lower interest rates. The termination conditions should be examined before the contracts are cancelled.
Benefits of a debt restructuring loan
A debt restructuring loan usually brings the customer more money into their monthly budget, whether an installment loan, a mortgage loan or an expensive overdraft facility is replaced. If one considers that the definition of a debt restructuring loan is taking out a new loan to settle an old contract, some customers wonder how this should work. Due to the lower interest rate the customer receives, the installment amount is reduced considerably.
With many debt restructuring loans there is also cash left over for maintaining living standards, building reserves or making an urgent purchase. Installments are often lower than before and month by month more money flows into the wallet. When refinancing, care should be taken to ensure that the favorable interest rate is fixed for the entire term and that special repayments can be made during the repayment period. Another advantage of a debt restructuring loan: if unexpected money comes in, a large amount can be repaid with a special payment without losses.
A tip for taking out a debt restructuring loan: if the outstanding amount from another installment contract only needs to be paid for one or two more months, a debt restructuring loan generally does not pay off. The installment contract will soon be paid off and the effort of a debt restructuring loan is not worth it. An amount in the four- or even five-figure range is worthwhile — here the repayment is longer and only then does the favorable interest rate really pay off.
MAXDA ensures your financial independence
For brokerage of a debt restructuring loan, documents such as pay slips, rent, pensions, etc. are required, as well as name, address, date of birth, marital status, and you must be at least 18 years old. After you have submitted your loan request, you will receive information by e-mail or post about all documents and information needed to assess the debt restructuring loan.
As soon as the loan application has been received, it will be reviewed and terms and options will be discussed with the customer. Once these modalities are settled, you will receive the most favourable loan we select for you, with premium conditions. A MAXDA employee will also be happy to visit you at home to assist you with completing the loan application. Please note that a bank transfer can take up to three business days; no transfers are executed on weekends and public holidays.
Another tip for you: to reach you as quickly as possible, you should provide your e-mail address and telephone number. If the debt restructuring loan without Schufa is requested, processing can take up to a week. A regular net income of over €850 per month and a minimum age of 18 years are prerequisites for a debt restructuring loan. Even if you do not meet these criteria, we can help broker a loan for you. With a solvent guarantor who is included in the loan agreement, this requirement is also met.
A free and non-binding loan request at MAXDA is simple and straightforward. Fill out the uncomplicated online form and send your loan request to us free of charge and without obligation. After receipt of your documents, the review will take place. We will then contact you. Should you have any further questions, these will be gladly answered in a personal consultation, by telephone or by e-mail.