If you have several different debts, the solution might be debt consolidation. A restructuring loan consolidates various debts into one new loan. A restructuring loan allows you to pay off separate loans, leaving just one loan to repay. Loan negotiation may result in agreement on a long-term loan at a reasonable interest rate so that repayment is in line with your ability to pay. Be careful to ensure that you take all your debts and outstanding bills into account. You can ask a bank or a credit institution for a restructuring loan.
However, you may find it difficult to get a restructuring loan from a bank if you already have a payment default entry in your credit data file or if you lack the collateral. In which case you can apply to the Guarantee Foundation for a guarantee for a restructuring loan or enquire about social credit in your own municipality.
A restructuring loan guaranteed by the Guarantee Foundation is one means of voluntary debt restructuring. It is one way to restructure your debts when it is otherwise not possible to pay them. The Guarantee Foundation can grant a guarantee to a private person whose life situation is stable and whose reasons for debt are in control or no longer exist at all. A guarantee can be granted once only. You will not be prevented from obtaining a guarantee if your debt is in collection or enforcement if the other conditions are met.
However, you will not be able to obtain a guarantee if you have any other reasonable means to cope with your debts.