Do you know what debt refinancing is ? Do not worry if you do not know it since refinanciacion-deudas.es let’s explain what all this consists of.
The refinancing of debts or refinancing of loans consists of canceling the loans or debts that we have over replacing them with a new debt either in the form of loans or under any other formula.
The usual thing in that sense is that the refinancing of debts is carried through loans that we use to cancel the previous loans or debts that we could have for others more flexible.
When is a debt refinancing done?
By power you can do it whenever you want, although from experience it is usual to do it when we need to cancel unpaid debts or when we want to take an expensive loan for a cheaper one.
That is why it is said that the refinancing of debts is often confused with the grouping of loans even though they are really different loans.
Refinancing is something that in fact can be done with the same creditor entity with which we have signed the debt.
That is, if you have a debt such as a personal loan with a bank and you want to change the conditions of such financing, you can request the refinancing of the debt with that entity to see if they accept it.
Because refinancing basically means changing the conditions of a debt or a loan with different ones.
It is evident that if the same loan conditions were maintained, carrying out a refinancing would be 100% meaningless.
The refinancing has to start from a logic because otherwise it is better not to do anything.
We must bear in mind that this type of management many times what they cause is an increase in indebtedness because when signing a new financing customers return to pay commissions, expenses for signing the loan.
Hence, it is said that the refinancing of loans as well as other loans as the grouping should only be carried out in situations where you know very well what you want.
Refinancing unpaid debts?
It is also an option although, as is logical, it is also more difficult to achieve.
At the level of processing for the financial it is not the same to have to refinance debts when they are unpaid than when they are up to date.
Right now financiers who are willing to refinance debts without collateral are few, and both those with collateral and those without collateral will always do the management through private capital.
The traditional banking and financial entities have to be completely discarded because they are not a type of financier accustomed to carrying out these financial procedures.
The ideal from a financial point of view is that the refinancing comes from an intention to change creditor entity and not for a default.
There are people who may want to simply change creditor because they feel that they are not interested in continuing with them.
And it is advisable that if you do this you always do it when the debt is up to date and not when it is unpaid.