Credit possible despite existing credit?

Again and again in my professional practice I encounter the uncertain customer question about a loan, even though a loan already exists and whether that would not be negative for a new loan request; In short: whether a loan is possible despite an existing loan.

An existing credit obligation is often perceived by people as a negative feature. But the exact opposite is the case.


Is it possible to get a loan despite the existing loan?

loan payment

First of all, it should be noted that if a bank has already granted a loan in the past, a bank’s positive credit check must have already taken place without which this existing loan would not have been granted. Therefore, an existing loan is always a positive credit characteristic. After all, the customer has been creditworthy and creditworthy in the past and has already received a loan.

Whether this existing credit makes it more difficult to grant an additional loan depends only on whether enough free income remains after deducting the first loan installment (and all other existing payment obligations such as rent, insurance contributions etc.) to cover another loan installment; whether an additional loan installment can be permanently “leveraged” by the borrower.


Regardless of how a further loan requirement has currently arisen

loan requirement has currently arisen

The only thing that plays a role in the renewed loan request is the ability of the borrower to service both loans with his current income (and taking his existing expenditure into account), a role.

Only the current budget (income – expenses) decides whether a loan can be taken out, at which bank and on what terms.

The current practice shows that often a merger of the Fine Bankes with the new borrowing requirement – to a new credit can be done at lower rates, with an extended or shortened total running time and a the accounts adjusted installment amount and thus often even for the Fine Bank improvements achieved can be.

Either the interest burden decreases, the term shortens, or the new rate is the same for both loans as the old rate for the first loan. Here are a variety of adjustments possible and the wishes of the borrowers can often be met.

Directly below this, interested parties can use the free installment loan online comparison for a first interest comparison and a credit request.

For this purpose, for example, we have installed the free installment loan online comparison on our website, with which interested parties can find out quickly and above all free of charge which bank would like to support their project at all and under what conditions.