Find out how to redeem a loan or make a debt rescheduling

We inform you here what needs to be considered and which conditions are important. With good planning, you can reschedule a Good Credit loan in such a way that it speeds up the settlement of the liability. Alternatively, a new loan can also be extended to lower rates. However, you should determine any costs in advance – we have researched for you at Good Credit.

It is advisable to check current loans regularly with regard to the conditions: Interest rates generally change, and special offers with limited time also open up special potential.

However, the contractual regulations in current loans must be observed so that the interest rate savings are not offset by unforeseen prepayment penalties. Not every bank grants free repayment or early repayment of the loan. The decisive factors are the contractual terms that we checked at Good Credit.

A loan from Good Credit: plan additional costs

Loan from Good Credit: plan additional costs

You have to expect restrictions for both the top loan and the car loan from Good Credit. Consider early redemption of the liability: Special repayments are only possible free of charge up to 50 percent of the remaining amount each year.

If you want to redeem the loan completely, prepayment penalties amount to one percent of the amount to be repaid in accordance with the price list.

To be on the safe side, you should contact Good Credit and ask for a replacement offer. However, you can use this value to research an alternative – after all, you want to generate an advantage on the bottom line.

Check standard market conditions: use comparison calculator

The best way to get an important overview of the current conditions quickly and easily is to use the loan comparison: You simply enter the amount still to be repaid and the term of the current loan, as well as the purpose of “debt rescheduling”. The list of results gives you information at first glance whether debt restructuring can lead to the desired success.

In any case, take into account Good Credit’s prepayment penalty, which reduces the savings potential. However, this way you also have the option of designing the term in such a way that the monthly charge is easier for you to bear – that is entirely up to you.

Check the conditions for debt restructuring


A debt rescheduling from Good Credit can only be successful if you select a cheaper alternative loan and get it approved. So make sure that

  • Your credit rating is still impeccable
  • the necessary documents, such as wages and salaries, the statement of income and expenses and your valid identity card or passport with registration confirmation, are available and
  • Your liquidity is sufficient to reliably repay the loan.

In the next step, you can select the suitable provider in the credit comparison and start a non-binding credit pre-inquiry – this will give you a reliable basis for your decision. If you calculate the possible savings based on the effective interest rate, and there is also an advantage with the prepayment penalty from Good Credit, nothing stands in the way of your project.

Proceed cautiously: reschedule debt smoothly

Proceed cautiously: reschedule debt smoothly

To take advantage of your Good Credit debt, the following procedure is recommended:

  • Determine or request residual debt and prepayment penalty from Good Credit
  • Research the alternative offer in the comparison calculator
  • Start credit inquiry
  • Submit documents and apply for a loan
  • Be sure to point out rescheduling to simplify credit checks
  • Let debt restructuring be done by the new lender

With the help of a power of attorney, you can ensure that the new bank contacts Good Credit directly and clarifies all the arrangements for debt rescheduling. The payment is then made directly to your previous credit account with Good Credit – you have done everything.

Even if you have to expect a prepayment penalty when repaying your Good Credit loan, the debt restructuring can still be worthwhile. Carefully determine in advance the potential, which can lie in cheaper interest rates as well as in more pleasant monthly installments, in order to generate the greatest possible benefit.

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