Good reasons for restructuring a loan

What is a rescheduling and is it worth it to replace the loan?

We highlight all relevant aspects of debt restructuring in an article. From the legal bases, a sample calculation to the concrete procedure of a rescheduling all points are treated briefly and concisely.

What is a debt restructuring?

A debt rescheduling is a borrowing of a loan for the repayment / repayment of an existing debt. This refinancing is usually done to save costs or reduce monthly installments. The rescheduling involves both an early repayment and the addition of new credit.

Is it worthwhile to replace the existing loan (rescheduling)?

Yes, it usually pays to replace the existing loans with a loan with a lower interest rate. Lower interest rates save you money - month after month. We have put together a calculation example for you in which a simple rescheduling can save more than a quarter of the costs (over CHF 1'100.- for the same loan and amount.

Example: rescheduling of a personal loan with CHF 20'000 balance and a residual maturity of 48 months

May I make an early repayment / rescheduling?

In the field of consumer credit law, you are free to reschedule debt at any time. For personal loans between CHF 500 and CHF 80,000, the principles of the Consumer Credit Act (KKG) apply in Switzerland. In addition, the KKG only applies to repayment terms of more than 3 months, which is the case in most cases. Within the scope of the law, the existing lender must provide you with a compulsory early repayment free of charge.

How can I reschedule my loan to Crowd4Cash?

• Contact the existing lender with a request to let you know the balance for early repayment. Phone number and credit reference can be found on your billing or credit agreement
• Submit a loan application to Crowd4Cash with the desired amount (please consider the platform fee). You will be informed 24 hours later if we can finance your project.
• Crowd4Cash publishes the project for you
• After successful loan financing, you order the bill for the rescheduling from your previous provider.

. Upon receipt of the invoice, you submit it to Crowd4Cash.
• Payment is made directly to the existing lender. Any remaining amount will be automatically transferred to your account.
• Apart from changing the installment, no further action is necessary from your side.

Conclusion
Rescheduling is possible at any time free of charge and is worthwhile in most cases. You save money because you have to pay less for the same product. Thanks to its lean and efficient structures, Crowd4cash is able to lend money on attractive terms. Find out today at Crowd4Cash. We are always available for questions.