Banks don’t like to see a customer apply for another loan even though one already exists. It doesn’t help much either to apply for this at another bank, because loans are always communicated to Credit bureau and of course the banks do a Credit bureau query before granting a loan. However, there can be reasons why taking out another loan makes sense.
Apply for credit despite credit
Many know the situation. Despite an ongoing loan, there is a financial bottleneck that cannot be compensated for without other means. Reasons for this can be sudden repair cases or the back payment to the tax office is again too high. But loans are also often used for debt restructuring. This makes sense if the affected household has to pay installments in several places.
Here there is not only the risk of getting bogged down, but there is also the risk of over-indebtedness. In the latter case in particular, it is advisable to apply for a loan despite a loan. This can even save money, because if all the loans are combined, the interest only accrues once. Depending on the interest rate, these may be even lower than with the first loan. In addition, the amount of the installment is reduced. This leads to further savings.
Apply for a loan for attachments
There are also serious reasons why some households crave a loan despite a loan. The current economic situation is rosy for very few people. The cost of rents and to the utility company increases or the borrower is surprised by unemployment. Such situations quickly lead to the fact that the installments can no longer be paid. In the worst case, the salary or account seizure threatens.
Anyone affected by this knows how much money is left to live in the month. At the latest now, the desire for a loan despite a loan arises. Unfortunately, under these conditions, there will be no bank that is ready for a loan. Therefore, you should think about a timely debt restructuring before it comes to this.