Settle debts
When you take out a loan, you must subsequently repay the debt incurred for that loan. However, loans are often also taken out to pay off existing debts, for example in the case of refinancing.
How does settling debts work?
With a loan, a selected lender lends a certain sum of money to the borrower. This creates an obligation for the borrower, who commits to repaying that amount to the lender under the agreed conditions.
In banking, additional costs arise when taking out a loan, which the borrower must bear. Foremost among these is the payment of interest, which is calculated as a percentage based on the loan amount. This interest generates returns for the lender and also serves as protection against defaults in their overall economic processes.
A traditional loan may also include fees in some cases, but this depends on the individual situation. Settling debts is part of lending just as much as receiving the agreed sum. The money is made available to the borrower for a specified period, during which they are free to use it. We value trust and transparency in lending and therefore want to give borrowers a positive feeling when taking out the desired loan to settle debts.
Take out a loan and settle debts
But before you can settle debts, you must first take out the loan. After you agree on a loan amount and a term, you will receive the necessary information and documents to conclude the loan by post. Of course, we are also happy to advise you on the topic of settling debts if you have further questions or would like to adjust the terms. We will work with you to draw up a loan agreement for settling debts that is perfectly tailored to your needs and adapts the repayment possibilities to your financial situation. Repayment is made, as is common in lending, via installment payments.
Installment payments are roughly calculated from the loan amount plus interest divided by the term in months. With a longer term, you therefore pay a smaller amount each month. This way the loan terms can be adapted to your financial situation while we jointly find a way for you to be fully satisfied with the loan you have taken out and to settle your debts.
Once the loan agreement for settling debts has been sent and processed by us, the disbursement is made to the provided bank account. Please note that a transfer can take up to 3 working days, and bookings are not made on public holidays or weekends.
Easily take out loans to settle debts in variable amounts
The range of loans offered to settle debts starts with small loans from €3,000 and goes up to larger loans of up to €250,000. You can choose the loan amount freely; we will then check whether the desired amount can be approved in connection with your creditworthiness. No borrower is excluded in advance from settling debts!
Even people without current permanent employment and therefore only a very low income can still settle their debts if a guarantor is provided. This guarantor is liable for the borrower's debt with their entire income and assets; they must therefore settle the debt if the borrower is no longer able to pay their installments in full and/or on time. For a successful loan issuance we will in any case need your personal data, and we also require an overview of your current financial situation. This includes fixed costs, such as rent, as well as your income.
If a guarantor is used, we also require an overview of the guarantor's financial situation, since the guarantor must of course have sufficient creditworthiness to actually be able to guarantee the loan.
Loan application to settle debts - The process
The documents can then be sent to us by post; for people in permanent employment (or civil servants) a proof of the most recent pay slip is required so that the loan application to settle debts can be processed as quickly as possible and the loan amount can be paid out soon. In addition, a loan application signed by all parties is of course required; this is included with the documents and only needs to be signed by you and, if applicable, the appointed guarantor.
We grant loans to settle debts from a disposable net income of €850, so people with lower incomes and consequently weaker creditworthiness can also qualify. A loan without Schufa check can also be issued, which is then implemented via foreign banks. Nevertheless, proof of the financial situation is also required here. No Schufa entry will be made.
Tailored loans to settle debts for private customers
We focus specifically on loans to settle debts for private customers. As a result, we know exactly what private customers need and how a tailored plan for repaying an installment loan should look. As one of Germany's largest financial service providers, we are specialists in the field of consumer loans, so we can still realize loans to settle debts even when creditworthiness is rather weak and there is a negative Schufa entry.
Our independence from banks allows us and you a free choice of lender. Based on your data and the desired term and loan amount, we can precisely determine which lending institution is most suitable for your requirements and with which loan to settle debts the total costs can be kept as low as possible.
Settling debts with the help of MAXDA
Our friendly team is also not afraid to work on alternatives and thus on a comprehensive and satisfactory solution. Mortgage loans and civil servant loans are part of our repertoire, as are classic installment loans from €3,000 to €250,000. Due to our unbureaucratic and goal-oriented approach to lending, the loans are also suitable for borrowers when things really need to happen quickly.
By the way, our service is of course completely non-binding for you. An inquiry about a loan to settle debts is neither associated with costs for you nor does it create any obligations. You remain completely independent and informal for the entire duration of the loan application until the contract is signed. If you ultimately decide not to take out a loan at short notice, you will of course not incur any costs as long as the loan agreement has not yet been signed, returned and processed.
Immediate repayment is of course also possible for those in a particular hurry. Thus, the loan can be repaid in full quickly if the financial means are available. Thanks to our transparent approach, you have full control and comprehensive insight into the terms and costs of the loan from the first to the last step. Our goals are your trust and the satisfaction of our customers through cost transparency.