Loan Restructuring
In the case of loan rescheduling (often also called "refinancing of loans" or "refinancing loan" or also "loan redemption" or "redemption loan"), a personal loan is replaced by a new one, which usually has better conditions.
In Switzerland, personal loans can be redeemed at any time and without additional costs. This is prescribed by law in the Consumer Credit Act (KKG). Refinancing makes sense when interest rates generally fall or the creditworthiness of a borrower has improved.
In the context of a debt restructuring, it often makes sense to combine several loans (see also loan combination) or to increase the loan.