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Debt trap: Teleshopping

Skillful animation tempts you to shop quickly

You don’t get just one, not just two, you get three things for free if you only order immediately. With clever advertising steps, the television viewer is literally “talked out of the money”. And you don’t even have to pay in one sum if you don’t have it. It’s also easy on the installment plan.

Beware of the glossy stations

The sellers in the shopping channels are literally overflowing with friendliness. They speak directly to the viewer. If you feel lonely at home, television shopping is very seductive. It manipulates and suggests that someone would talk to the viewer, be interested in his concerns, have the right solutions ready.

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Soap first, then squeeze out

In the seller’s language, the detailed product description is also called “soaping” without emotion. You try to get the viewer to a maximum level of interest. The sellers use promises and compliments of every kind, such as:

  • it will fit you fantastic
  • You will be admired for
  • you will be envied it.

With psychological tricks and tricks of any kind, the seller tries to persuade the audience to be sure to buy the advertised product. The pressure then comes after a series of sales arguments. It is said that it was:

  • only a certain number of the product available,
  • Now you have to answer the phone
  • who buys now, get it for next to nothing.

A clock then ticks and counts down a countdown. It is always reminded to call now, to make a quick decision, to secure a product immediately. The viewer picks up the phone and the trap snaps shut.

Personal data is requested

Personal data is requested

The viewer has selected the sales hotline on the TV shopping channel, it is trapped. Then he reveals personal data, perhaps the credit card number or the bank details for a direct debit. His age, address, everything. Only hours later, the purchase amount is debited from the account. A few days later the doorbell rings and you get the purchased product. Viewed in the sober daylight, it may not turn out to be as good as advertised by the seller. In any case, it will be overpriced. The product prices for goods in television shopping are not bargain prices.

Addiction potential from television shopping

Addiction potential from television shopping

Some cannot be put off, not by the too high costs for comparatively simple goods, not by querying personally sensitive data. Some continue to watch TV shopping, order again and again, order about your options. Shopping on the television then becomes an addiction. First they pay the sums in full, then credit offers are used, small installments and consumer loans. If it worked out when you paid the first installment, you agree on the second or third. The spiral turns, the debts start to grow and pile up.

TV shopping can create a mountain of debt

Is the TV shopping has become only the cherished habit and addiction, the debts can pile up and the person does not notice. He has more and more open invoices, reminders or maybe already titled claims, but the affected person can not get rid of the urge to turn on, look and order again and again. At some point, the affected person becomes over-indebted and only radical measures help to free themselves from the “swamp of debt”.

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Instant loan comparison: banks and credit intermediaries for quick credit

An instant loan is a loan that you have in the account in a short time after the comparison and the submission of the necessary documents, up to a maximum of 48 hours after the application. At Cream Bank you will find a loan comparison for instant loans and also the possibility to accept the right loan immediately and to sign the corresponding contract. Incidentally, the request itself, which you can conveniently process online in just a few minutes, does not result in a report to Credit Bureau or another credit agency.

A selection of banks in the Cream Bank credit comparison

A selection of banks in the Cream Bank credit comparison

The loan comparison portal works with several banks in order to always be able to present you with the best offer. In addition, with a high number of providers, the competitive pressure among the individual banks increases. As a borrower, you therefore benefit from cheap loans and low interest rates. These are some of the banks with which Cream Bank works:

In addition to the above, there are many other banks and credit institutions. Other credit brokers, such as Auxmoney, also belong to the extensive database. Auxmoney arranges loans from private to private – so even self-employed people, students and other borrowers who are otherwise seen as wobbly candidates are more likely to get an instant loan!

Instant credit and quick credit – what’s the difference?

Instant credit and quick credit - what

Basically there is no defined difference. The instant loan and the quick loan are mostly used synonymously. The main feature is that the desired amount is paid out very quickly. The creditworthiness is checked anyway, the Credit Bureau will be asked if necessary. The credit comparison at Cream Bank is Credit Bureau neutral and does not result in entries. Nevertheless, the credit agency plays a role. Loans that can also be paid off over long periods are usually referred to as instant loans. The term rapid credit also refers to those loans that are received immediately and repaid quickly; usually smaller sums up to 1,000 USD.

The 8 reasons for Cream Bank: Advantages according to the comparison page

What is an instant loan good for?

Most interested parties take out an instant loan to cover spontaneous costs that arise unexpectedly. This can include repair costs for devices, the car or the house technology. If medical treatment becomes necessary, a new computer or the like can lead to an immediate loan. In addition, there is currently the topic of Christmas. Throughout the year, there are always unique opportunities for a short vacation, for a cheap purchase – or the overdraft facility needs to be balanced out … fast online loans are also good for this.

This is how the instant loan comparison works at Cream Bank

First, visit the special subpage of Cream Bank, which is completely dedicated to the topic of instant credit. Then you will find a search field at the top in which you can enter your desired amount. Below, between interesting explanations on the subject, there is a more detailed search mask. There are also a number of facts, criteria and data that you can study in addition to the loan comparison. When using the search field or the search mask, simply follow the instructions on the following pages – and you will find the best instant loan.

More and more providers are coming onto the market

The topic of instant credit and lending in general is bringing more and more providers onto the market to present their comparisons and products. For example, the new provider Credi2 offers a kind of credit line via smartphone with its app cashpresso, but the interest rates are very high. Because here a lot of costs for providers, intermediaries, borrowers and so on come together. Inexpensive providers like Cream Bank, who have many years of experience and many partners, are more attractive and can also arrange higher amounts.

Conclusion on the topic and the loan comparison

An instant loan should of course only be taken out if you know that you can repay it quickly. Basically, borrowers and lenders need to be clear about their creditworthiness. In order to find the best provider, the best bank for a loan, comparison sites like the one presented are worthwhile. There is a comparison of many credit institutions and some intermediaries; the inquiries are free and non-binding; and in the end you get exactly the credit you want. Not a bad thing!

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Debt restructuring for companies

Why debt restructuring and what are the benefits?

Why debt restructuring and what are the benefits?

Long-term and short-term loan debt is vital for businesses in many cases. Without these, short-term bottlenecks in liquidity and investment power can hardly be overcome. This is why debt restructuring is so attractive for companies, because if a loan is already part of the business basis, it should at least be as cheap as possible. In most cases, debt restructuring is nothing more than an option for the borrowing company to make the interest and the terms as attractive as possible.

Especially with corporate loans, the amount of which often quickly reaches the six-figure loan amount, a lot of money can be saved over the term – a possibility that companies like to use again and again. Companies in Germany alone are currently saving an estimated over nine billion dollars a year through debt restructuring, although the potential is much higher.

According to relevant studies, companies in the German economy are still paying double-digit billions in excess each year due to excessive interest rates or poor repayment conditions – a shortcoming that means a significant weakening of economic and innovative strength, particularly in times of the global and European financial crisis.

Advantages that can result from debt restructuring:

  • More attractive interest rates can lead to savings.
  • More attractive repayment terms make it possible to individually adjust the financial scope, especially for long-term loans.
  • Bundling the individual loans can mean an increase in creditworthiness and less effort for financial planning.
  • Savings in interest and money saved in administration can lead to an improvement in the financial scope and the financial possibilities.
  • Possibilities of tax savings in the annual financial statements can thus be fully used.

How does debt restructuring work for a company?

Debt restructuring works in a company much like a consumer. Depending on the situation, one or more loan contracts are replaced by new contracts with better terms or combined under a new loan with more favorable terms. The latter option in particular is very popular with long-term loans, as it not only simplifies the handling of the loans, but also enables savings through an interest rate and a repayment agreement. Depending on the creditworthiness and possibilities, it can also be considered to combine a redemption with an at least partial reversal (repayment) of the loan amount. The result is optimized, because together with the better conditions, even lower interest rates on the total loan amount and an increased credit rating come into play. Especially in economically demanding times, companies often opt for a replacement and prefer to keep the available cash available. However, this behavior can change due to possible penalty interest for investments.

How to proceed with corporate debt restructuring

How to proceed with corporate debt restructuring

The overdraft facility is not the only problem area that suggests debt restructuring for companies. Countless overly expensive loans in the past can burden the company and limit its ability to act. However, debt restructuring is not always worthwhile for companies. Therefore, entrepreneurs should follow the checklist below:

  • What debts are there in the company? Scope, lender, term?
  • Total cost of all debts
  • Cost of individual debts
  • Rescheduling options: Where would it be possible to redeem old debts without prepayment penalty?
  • Check new loan offers
  • Comparison of the installment amount and the interest costs
  • Check the need for debt restructuring for companies: is it a matter of reducing monthly payments or saving interest? Can you do both?
  • Priority of old debts: Are there difficulties with individual creditors? Regardless of the savings potential, these debts have priority for corporate debt restructuring.

Debt restructuring can secure future growth

Due to current events, this risk is increasingly coming to the fore, which is why a rescheduling may not necessarily release funds. In this case, the debt rescheduling only serves to simplify the organization or should create a little space for new loans for investments due to the associated higher creditworthiness. While this is a little riskier, it allows the company to grow faster in a better economic climate. Here, an opportunity-risk analysis is almost always carried out beforehand, because if this strategy fails, the debts are still retained and must be repaid by the company in any case. For this reason, economists always recommend a solid financial cushion, but at least a realistic and well-executed market and market opportunity analysis in order to be able to assess the success of a debt restructuring with the subsequent taking out of new loans as well as possible.

What does corporate debt restructuring bring to companies?

With a loan of one million dollars with a repayment period of five years, a one percent interest difference makes a saving of 25,625 dollars. This interest rate advantage can certainly be converted into a longer repayment period, which allows the entrepreneur to significantly reduce the monthly charge without increasing the credit costs. The only problem of debt restructuring for smaller companies is the more semi-professional financial management of the owners, who cannot employ their own experts for complex financing models. But that’s not necessary either: Specialized service providers are happy to help and calculate the benefits of debt restructuring for companies to the cent.