Debt restructuring without Credit Bureau is only the right solution if the loan for the debt restructuring should not exceed 5,000 dollars. Credit Bureau-free loans that can be used for debt restructuring are not granted in any amount. A debt rescheduling with a Credit Bureau-free loan therefore only makes sense if it is not about large amounts.
When offers debt restructuring without Credit Bureau
The project is ideal when it comes to replacing the expensive overdraft facility with a debt rescheduling. It can be completely replaced if it is used for less than 5,000 dollars. In addition, it should be noted that the overdraft rate must be higher than the interest for the Credit Bureau-free loan, because otherwise nothing is saved. Nevertheless, it can be important to replace the overdraft facility because a loan that is repaid in regular installments can be paid off better than the overdraft facility. However, the overdraft facility cannot be repaid. Experience has shown that consumers who regularly live above their means find it difficult to discipline themselves in such a way that they voluntarily reduce the overdraft facility.
It can be really problematic if the bank has already canceled the overdraft facility and is requesting compensation within a very short period of time. Therefore, debt restructuring with a Credit Bureau-free loan is advisable, because hardly any other bank will grant loans if the Credit Bureau is already negative.
The Credit Bureau-free loan from Liechtenstein
In principle, German banks do not grant loans without Credit Bureau in Germany. Anyone planning a debt restructuring without Credit Bureau should therefore contact a credit agency to apply for the loan there. Either 3,500 or 5,000 dollars are specified, it cannot be varied. But that also means that only small amounts can be rescheduled. The transfer fee should not be greater.
In addition to the above-mentioned overdraft facility, a Credit Bureau-free small loan can also be used to conveniently redeem loans from the mail order business or smaller goods loans.
Please note: debt restructuring should also always pay off. It would be purely mathematical nonsense to reschedule a Credit Bureau-free loan, which is always expensive in terms of borrowing costs, in order to replace a loan that has not caused any borrowing costs. Debt restructuring would only make sense in exceptional cases when it comes to cleaning up Credit Bureau.
Credit Bureau-free loans have the disadvantage that they cause relatively high borrowing costs and are therefore only suitable for rescheduling to a limited extent.
When the debt restructuring makes sense
A debt rescheduling is only advisable if it comes to loans that are associated with high borrowing costs. A loan without Credit Bureau is not a cheap loan, so it does not make sense to replace a loan obligation with a Credit Bureau-free loan, which was a so-called zero percent financing.
Anyone who believes that debt restructuring can solve the existing financial problems will be instructed a short time later. Financial bottlenecks can surely be remedied. A rescheduled overdraft again creates a little more liquidity, but this is more of a snapshot. The debt restructuring does not eliminate the actual problem, but rather postpones it. If you have financial problems, it may make more sense to turn to debt counseling instead of covering up a problem with debt restructuring without Credit Bureau. Debt counseling provides competent and professional help, free of charge.
What to look for when choosing a credit intermediary
If the debt rescheduling is to be carried out without Credit Bureau after weighing up everything that speaks for and against, it should also be noted when choosing the credit broker that it is a reputable broker who does not charge any upfront costs. There are a lot of “black sheep” in the industry who sell their customers everything they can, but do not provide credit without Credit Bureau.