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Loan Increase

A credit enhancement refers to the increase of an already existing credit amount. This process offers borrowers the opportunity to create additional financial leeway without having to take out a separate loan. Often, a credit increase can take place as part of a loan consolidation or debt restructuring.

What is particularly attractive is that with some providers, the credit increase can be partially or even fully settled with the interest savings from the credit consolidation or debt restructuring. This means that the financial burden of the top-up may be minimal or eliminated entirely.

The possibility of a loan increase depends largely on the creditworthiness of the borrower. A good credit rating improves the chances that the lender will approve the increase in the existing loan.

The credit increase is an extremely flexible option for borrowers who have additional financial needs. It allows existing loans to be adjusted, opening up new financial opportunities.