In the meantime, however, many banks are offering their customers free partial or full repayment options for personal loans. But even if a prepayment penalty is incurred, rescheduling can be worthwhile. The amount of the early repayment penalty should be included in the total of the rescheduling loan.
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Influence on creditworthiness
Taking out a loan is now commonplace - especially in a phase of low interest rates, it can even be more advantageous to finance a new purchase with a low-interest installment loan instead of saving for years on it. But if you overdo it and only live on credit, you can also have disadvantages. In retail, many products are offered with the right installment financing, many retailers even attract customers with zero percent financing . However, these financing offers are usually just a clever marketing idea. Many consumers fall for it and end up with so many installment payments on their cheek that after all financing installments have been debited, nothing is left of their income.
In Germany, (almost) every credit borrowing is reported to the Schufa. All current loans and financing appear in the Schufa data. Too many installment loans with different creditors lead to losing track of things at some point. This can lead to payment problems and defaults through to over-indebtedness. Therefore, it is rated negatively by the Schufa to service many installment loans with different creditors in parallel. The Schufa ascribes a higher credit default probability to consumers with a large number of current installment loans, which in turn has a bad effect on the Schufa scoring.
If, on the other hand, you have all your current loans replaced by a rescheduling loan and only have to pay one loan installment a month instead of several, you will definitely do better. Because with a rescheduling loan you keep track of things and can significantly reduce your monthly credit burdens - often by 50%! Debt rescheduling provides more financial leeway and is also rated positively by Schufa and banks. The bottom line is that the credit rating is significantly improved with a rescheduling loan.
You don’t know what your credit rating is?
Then the very first thing you should do is request a self-assessment from Schufa! Once a year, consumers receive free access to their Schufa data on request. Find out which Schufa score you have and check all the data that Schufa has recorded about you. It is not uncommon for information to be incorrect or out of date. In this case you have the option of having this data corrected by Schufa.
Is your Schufa score very low due to your current loans?
Then let us reschedule all current liabilities and improve your creditworthiness! Simply send us your loan request online! We will immediately check your debt rescheduling options and come to you with a specific rescheduling offer. If you like our offer, our free rescheduling service ensures that your loans are repaid quickly and smoothly.