Approving loans in difficult cases often presents the clerk with major problems. If you also understand the applicants’ situation, you are bound by the bank’s internal rules. It is often a job loss that puts people in financial difficulties. The reduced income means that less money is available for current obligations. The scope within which a loan can still be approved has also become significantly smaller. Nevertheless, there are ways to get out of this situation. A sustainable improvement of the situation is possible.
Debt restructuring as a way out of a difficult financial situation.
The principle of debt restructuring is simple. It is one of the really sustainable measures that can be used for loans in difficult cases. All obligations from current loan contracts are summarized in a loan contract. Due to the payments already made, the new loan amount is less than the original loan amount. If necessary, the new loan can also be increased. This way you can pay back bills. The rate can be significantly reduced in the long term. The additional liquidity at least partially offsets the loss of income.
In order for debt restructuring to really help in the long term and not just shift the problems into the future, initiative is required. A credit alone only gives time and air for the accumulated bills. Only the adjustment of expenditure to the reduced income leads permanently from the financial problems.
Loans in difficult cases through the local provider.
Local banks are reluctant to grant loans in difficult cases. The exception is debt restructuring where you are already the main creditor. If the situation has not yet been dealt with, the clerk can quickly come to a positive decision.
Unfortunately, his hands can also be tied for the individual case. He can only approve loan applications that are in accordance with his credit guidelines. This is not always the case for loans in difficult cases. A guarantor or co-applicant with a good credit rating significantly improves the chances of getting a loan. Additional collateral can also have a positive impact on lending. Additional guarantees include the home savings contract, life insurance, but also the vehicle letter of the paid vehicle.
Loans in difficult cases through credit intermediaries.
Swiss loans are known for easier lending rules. These are loans granted by foreign banks. Credit intermediaries maintain contact with credit institutions from all over the world. They can help ensure that a loan is also approved from a difficult situation. There are loans in difficult cases, without Credit Bureau information, without proof of creditworthiness and even with ongoing enforcement measures. If you had no success with your loan request from local providers and online banks, it is worth going to the credit broker.
There is a solution for almost every loan requirement through credit intermediaries. If bank loans are excluded, they also maintain links with private investors. These are even more willing to take risks than foreign banks and are not subject to any lending rules. A private investor is free to choose a loan approval. For the private investor, the significantly higher interest income is the reason to take higher risks. Anyone who cannot do without loans in difficult cases must therefore expect significantly higher financing costs.