The debt rescheduling from the overdraft facility to the installment facility cannot go fast enough. Every day, the overdraft facility delicately “crunches” the disposable income of the account holder.
With our contribution, we invite you to take a closer look at the admittedly somewhat briskly formulated entry sentence. Find out what the ever popular dispo is really for. How the overdraft would be used sensibly and when it is really urgent to reschedule.
In addition, we inform you which credit offers – with regard to personal creditworthiness – are recommended.
Debt rescheduling – draw borders yourself
A debt rescheduling from overdraft facility to installment loan is recommended to anyone who has problems keeping their checking account permanently in their credit. Thought and interpreted by the interest rate is the overdraft facility as a means of maintaining liquidity without interruption. In the event of overlaps in payment, the current account ensures that the debit does not go back. In addition, the overdraft facility helps to occasionally be able to afford something that does not actually fit into the current monthly budget.
The overdraft facility prevents the need to apply for an installment loan for every short-term small money requirement. The comprehensive overdraft facility, mostly the bank automatically grants the overdraft facility, ensures personal liquidity. – But any overdraft is only a sensible credit decision if the repayment is easy within a few weeks. If this is not the case, the overdraft facility becomes a permanent condition, the bank is still far from warning. Nevertheless, it is time to take care of a debt rescheduling from overdraft to installment loan, because the overdraft interest is always high.
With normal or even good creditworthiness, finding a loan for overdrafting is particularly easy. A good loan comparison calculator is easy to use and lists all current installment loan offers online. From a loan amount of USD 1,000 with a minimum term of 12 months, regular financial institutions offer the debt rescheduling loan. Officials, as applicants with a particularly good credit rating, should be guided by interest rate offers that depend on the credit rating. Normal citizens with an average good credit rating usually finance more cheaply through interest rate offers that are independent of creditworthiness.
Dispo trap – don’t fight against windmills
With your personal debt restructuring from overdraft facility to installment loan, borrowers unfortunately wait far too long. Some people find it “too much work” to apply for a loan, others want to reduce the overdraft without an installment loan. For those who fear the expense, a modern online credit with online ID check is recommended.
The effort is limited to “5 minutes tap” for the online loan application. A further 5 minutes of “working time” costs the identity checked online via Skype. Nobody has to leave the parlor for the online credit applied for in a timely manner. It is more difficult to convince people to refinance from overdraft facility loans to installment loans to those who defend their overdraft facility by saving.
It is extremely doubtful whether the savings efforts will pay off in the end. Nevertheless, the majority of account holders in the red are trying to write black numbers again through “hard saving”. The only problem is that the high overdraft interest rates, in the case of deep red numbers, prevent repayment in due time. The setback is literally preprogrammed with every interest statement.
Our advice: do not fight against windmills. Apply for an installment loan to overdraft facility and save yourself the overdraft interest trap.
The bank warns of overdraft facility compensation – why is it in a hurry?
The house bank earns a lot of money from a high overdraft. One call is sufficient for most account holders and the overdraft facility is expanded several times. If the entered credit line is still not sufficient, the bank will allow an “approved excess” of the overdraft facility. The interest on this additional overdraft is even more profitable for the house bank. If the bank urges the overdraft facility, it is not a trivial matter to ignore.
The reason for the warning is that the personal credit line for short-term loans has been fully exhausted. Account holders who do not act promptly will find it difficult to deal with the consequences later. There is a quick need for action, as not only does the overdraft facility eat up your income, but at least temporary insolvency threatens. Before the house bank does not redeem debits due to insufficient funds, rescheduling from overdrafts to installment loans is still possible via regular loans.
Interesting in this situation are the somewhat higher-priced loan offers from the loan comparison. However, if you wait until the first debits decline, this still comparatively low-interest path for the loan to overdraft facility is closed. Regular credit institutions that are willing to take risks often check the bank statements of the last three months to make a credit decision. Reversals mean proof of actual insolvency. The only thing that remains open is the attempt to credit through special providers.
Risk credit for overdraft facility compensation – as soon as possible from the overdraft facility
The risk credit for overdraft facility is no longer about saving interest, with the aim of keeping more money for consumption. It is literally about financial survival. Customers who do not respond to the emphatic request for the return of discounts unexpectedly hit the flexibility of the discounts with all their might. The clearing frame can be reduced just as easily as it had to be expanded previously.
Nobody can save against an effective interest rate of 17.5 percent (savings bank), or even more at other banks. If regular loan offers are no longer eligible for debt restructuring from overdraft facility loans to portable installment loans, the path leads to risk loans. A debt rescheduling, for example via that of Lite Lender, or a loan from private to private could be interesting.
For the debt rescheduling from overdraft facility to private installment loan, it is advisable to address one of the two leading portals. Overdrafting on Cream bank or Agree Bank is still conceivable even if banks no longer take the loan risk.