In principle, it is always possible to take out a new loan despite existing loans. The condition is that the regular income after the deduction of the fixed expenses to life and to pay the incurred credit installments sufficient. Whether loans already exist, learns the bank at the private credit request. Most financial institutions carry out the household bill at a flat rate for the basic needs.This applies even more to online credit offers with immediate decision than to lending by traditional banks. Applicants with unusually low fixed costs may apply to individual financial institutions to request a re-audit of the actual data. In this case, the automatic application check is not possible, so that it will inevitably take a few days between receipt of the loan application and the award decision.
Another way to increase the likelihood of a loan despite existing loans is to extend the desired loan term.The revenue and expenditure account is based not on the absolute amount of the loan, but on the amount of the monthly loan installment. For this reason, an extended repayment period often results in the bank granting a loan despite existing liabilities. In spite of existing loans, the loan often becomes necessary when unplanned purchases are unavoidable. Common reasons for additional borrowing are vehicle damage and defective home appliances. Any real estate financing is assessed separately by the banks.
The parallel existence of such and a consumer credit is therefore common.Most consumer advisers recommend that you make a loan, despite existing loans, only for much-needed purchases. In a loan comparison for the additional loan taking interested in both the interest rates and on the other credit terms. If multiple loans are to be repaid, flexible repayment terms are desirable for some of the loan contracts. These would ideally include the right to prematurely repay the additional loan despite existing loans without charging a prepayment penalty, and the option to suspend all one to two years with a repayment installment. Another advantage is provided by loan agreements with the expressly granted option of modifying the repayment modalities at customer’s option during the term of the loan.
Easing loans despite existing loans
Consumers are much more likely to receive installment payments through trading, even if current loan agreements are in place. Lending takes place either directly through the dealer or through a cooperative commercial bank. Regardless of the actual granting of money, most of the time the business collects credit reports from private credit. It does not contain data on existing loans, as the credit protection for inquiries submitted by traders only informs them of any negative features and no further credit commitments. The borrower is, of course, obliged to pay only as many liabilities as he can actually service. Another option for simplified borrowing despite existing loans is the private credit-free loan from Switzerland or Liechtenstein.Since the Swiss Federal Bank does not make a private credit request, it does not receive any information about existing credit agreements. For this reason, the loan without private credit is also suitable for borrowers without negative entry, if they repay already more loans. Despite the existence of loans from Switzerland with a good credit rating, it speaks against the non-bank credit that this is associated with a significantly higher interest rate than domestic consumer loans. Other credit types that can also be used with existing liabilities at any time include the prepayment credit and the part payment function of the credit card.Moreover, due to their exceptionally flexible repayment terms, both forms of credit are not included in the budget of a bank. However, they are also associated with relatively high interest rates. Cheaper is a credit available, which is also flexible repayable with the exception of a small minimum repayment. Most of the – but few – credit institutions that grant such a credit line grant it regardless of existing liabilities.
The loan repayment as a special case
A special case when applying for a loan despite existing loans is the replacement of expensive liabilities. This can be combined with an increase in the total loan amount so that the consumer actually takes a supplementary loan. In this case, the new lender always transfers the transfer amount to the current credit account and offsets it. This approach prevents the customer from using the loan as an additional loan, rather than repaying more expensive debt, contrary to what it says.For some items, direct settlement by the newly elected bank is not possible because, among other things, not all credit card companies accept third-party transfers to the card account. In addition, borrowers receive the top-up amount when combining a loan repayment with a top-up of the total loan amount into their bank account.