Debt rescheduling despite affidavit.

An affidavit is a serious negative feature at private credit checker.It must always be given if the debtor is likely to be completely destitute and several reminders and attempts at enforcement have been unsuccessful. Visit for a summary

These are extremely bad conditions to be able to reschedule debt despite an affidavit. The affidavit will not be deleted until the reasons for it no longer apply or two years have passed. However, creditworthiness is not immediately given again.

Requirements for debt restructuring

Requirements for debt restructuring

If the creditworthiness is sufficiently high, the customer can take out as many loans as he wants. In this context, the bank will examine very closely whether the income and the monthly loan installments are in a plausible relationship to each other or whether the borrower would be financially overwhelmed. In the latter case, the bank would intervene accordingly and either completely or partially reject the loan application. After an affidavit, which always entails a serious negative entry with private credit checker, there is no creditworthiness under any circumstances.

Without exception, every German bank, savings bank or Folkabanks will therefore refuse rescheduling despite an affidavit. The situation is somewhat different for a foreign bank. She will only request private credit checker information in the very rarest of cases and for this reason will not notice that the customer has taken an affidavit.

An exception would be if there is a garnishment of wages or salaries that can be seen in the monthly statement. Specifically, this would mean that the customer could only dispose of the attachable portion of his income, with the consequence that the income cannot be used as credit security.

Alternatives to a bank loan

Alternatives to a bank loan

Basically, it is advisable to critically question the desire for a debt rescheduling despite an affidavit. Interest must also be paid for a new loan and regular monthly repayments must be made. This can only be managed with a secure and relatively high income. If this income is missing, it would be strongly advised to refrain from rescheduling despite affidavit and to instead go to a state-recognized debt counseling center.

Those who find someone in their family or in their own circle of friends who might be willing to grant an interest-free loan should take advantage of this offer. Here the payment and repayment can be regulated individually and is not tied to any requirements on the part of the legislature.

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