A borrower whose financial situation has worsened and needs repayment support should take advantage of one of the possibilities of restructuring his own loan on terms that are convenient for him. Further editorial at http://xbox-platinium.com
Is there a credit restructuring?
Credit restructuring is nothing more than the option of changing the terms of the loan agreement that was previously concluded in writing. You can also restructure loans that have been made online. The loan can be restructured for earlier repayment as well as for problems with repayment.
Advantages and disadvantages of this solution
The main advantage of credit restructuring is that the customer can propose a change in the terms of the loan for its own financial capabilities (e.g. it can extend the loan period). This solution has one main disadvantage – every lender gives the opportunity to submit a loan restructuring application, but not everyone positively considers the client’s application to restructure his debt.
When submitting an application for loan restructuring, the customer should remember that this will involve additional fees that result from the need to amend the contract.
How to write such an application?
A ready-made template for a loan restructuring application can be found on the internet. However, often lenders have their own application forms. However, the customer should know what data should be contained in such an application. The document should contain information:
– lender details,
– debtor’s details,
– details of the case to which the application relates,
– the problem solved in detail together with the proposed solution,
– the debtor’s proposal showing the new loan period and installments,
– description of the debtor’s current financial situation,
– income confirmation or confirmation of unemployment or incapacity for work (medical certificate),
Credit restructuring and BIK
A borrower who wants to take advantage of credit restructuring should know how it will affect his scoring in BIK. Contrary to appearances, the restructuring of the loan does not negatively affect the credit history in BIK. Only information about changes to contract terms is recorded. By changing the terms of the contract, the customer can avoid a spiral of debt.
The borrower may also apply for a mortgage restructuring. A person who uses a mortgage to be able to apply for its restructuring cannot have any arrears in payment of installments.
Credit restructuring is not only possible for loans and may also apply to non-bank loans. You must then apply to the appropriate loan company.
A borrower who would like to change the terms of his loan agreement must submit a written application for credit restructuring with his lender. However, the borrower should remember that the lender does not have to agree to the application.