In What Cases Credit “Overtrumping” Is Possible With Other One

Sometimes it happens that businessman gets to a situation when loan payout becomes very problematic. In this case, overtrumping of the credit other loan can be one of ways out. In other words, to pay off with the old credit you take a new one. Banks treat with such type of debts repay by physical persons positively but in case of business – credits they don’t want to agree with such way-out. Therefore, you should think up argument for the new credit.

If the company has enough means for settlement it will be able to cope and to ask bank to open a credit line for the purpose of replenishment of current assets. Money from the account of the company will pay off a debt on the credit, and the received means on a credit line will compensate needs of the company. It is possible to advise you to make an agreement with bank in advance in order to manage to pay off the previous debt before receipt of new injections. In this case, pledge which provided the previous credit will become pledge for a new one. That is, the same property will provide two loans.

Consider, also that premature loan repayment can entail a penalty from bank.

If you do not have such quantity of current assets the previous option will not suit you. Then, you can try such variant. Apply to the bank with the request about wish to arrange a purpose-oriented consumer loan, for example, on payment of delivery of raw materials for production. After receipt of cash you handle it to the supplier as an advance payment for delivery. He will grant you a loan of smaller value, and just thanks to the credit you will be able to pay off the previous debt completely.

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