Refinansiering Med Betalingsanmerkninger: Refinance with Payment Notes

Being indebted is not something anyone wants for themself. Unfortunately, this is something that can happen to anyone. With how easy it is to obtain loans these days, it is very easy to get entangled in a web of debts. What’s worse is if you are unable to pay off your loans on time, you can be issued a payment notice that will end up making it more difficult for you to become debt-free.

Refinancing is one of the best ways to cut down costs and pay off your debts faster. However, when a person has a payment notice, a lot of financial institutions will turn down their refinancing applications. Thankfully, there are some banks and lenders that allow people to refinansiere gjeld med betalingsanmerkning i.e. refinance their debts even with a payment notice. Although some criteria must be met for this to happen, the most important thing is that it is possible.

In this article, we will be discussing everything that you need to know so you refinance your debts even when you have a payment notice. We will start by explaining what a payment notice is, then we will discuss what refinancing is, and finally, the steps and criteria needed to refinance with a payment notice. We believe at the end of this read, you’ll have all the necessary information you need to make your financial situation a whole lot better; so, stick with us to the end.

Payment Notice: What Is It and How Does It Work?

A payment notice is used to indicate that a person has defaulted on a loan. A person can have more than one of these depending on how many times they have defaulted on paying back their debts. Typically, when a person fails to pay back their debt at the agreed time, the lender will start a process known as debt collection. If the person fails to pay off their debt once this process ends, they will receive a payment notice.

Debt collection is a lengthy process that has many steps; giving the borrower enough time to pay off what they owe. The borrower first gets a reminder two weeks after the expiration of their loan. If the borrower still doesn’t pay after this reminder, they will get a debt collection notification. This is the final notification that the borrower gets before their bill is forwarded to the debt collection company.

The lender is legally required to send out a notice before processing a debt collection. Therefore, if the borrower doesn’t pay up after the last reminder, the lender can then forward the bill to the debt collection office. Legal measures will also be initiated after this and thirty days after, the notice will be registered in the credit register.

This register is accessible by banks and other financial institutions so that they can ensure the creditworthiness of the people they lend money to. Every information about your loan default like collection cases, salary deductions, judgment attachments, and so on, can be assessed from this registry. The presence of a payment notice in your credit history can significantly affect your creditworthiness.

Payment Notice Consequences

The presence of a payment notice in your credit history can have a big negative impact on your finances and the kind of services you are eligible for. People with several notices might be denied certain services like insurance, mobile, and electricity subscriptions. It also reduces your chances of getting loans.

When you have this record in your history, it shows that at some point in the past, you failed to pay up what you borrowed. This goes to show lenders and other service providers that you may be unable to pay back their money if they offer you credit. The sad thing about debt collection is, that other than your unpaid bills, you may now have to pay other charges. This would make your overall debt bigger and make it even harder for you to become debt-free.

Meaning of Refinancing

Refinancing is one of the major ways to reduce the overall amount of your debt and pay off your debts faster. According to the Cambridge Dictionary, refinancing is the act of replacing a current loan with a new one. When you refinance, you are simply taking another loan and then using the funds to pay off your old debt, after which, you’ll then start paying off the new loan.

There are so many reasons people refinance but the most important reason is to get better terms and save money. This process can help you save money on interest rates when you get a new loan that comes with a reduced interest rate than your current one. You can also use this option to get a shorter repayment term which would in turn reduce how much you spend on interest.

Some people also use this option to reduce their monthly payment to reduce their monthly financial obligations. However, reducing one’s monthly payment sometimes means a longer repayment plan. In this case, the overall amount the borrower would spend on interest may be significantly higher. This is why refinancing for this reason is not advisable unless it is completely unavoidable.

Unfortunately, a lot of lenders do not approve refinancing requests from people who have payment notices. The reason for this is simple; lenders want to be sure that an individual will pay back the money they borrowed. To ensure that the person can do this, they evaluate their creditworthiness by checking their credit history.

If the person has a payment notice on their history, then it means that they have defaulted on a debt at some point. Because of this, the lender may feel like the person may be unable to pay back the loan. This would make them reject the application because they do not want to lose their money.

Criteria to Refinance with Payment Notice

Having payment notice(s) on your history isn’t the end of your credit journey. While it is true that most lenders will refuse your loan applications when you have payment notice(s), some lenders will still offer you loans despite this. However, this is often based on certain criteria. The following are some of the requirements you must meet to be eligible for refinancing a debt even with payment notices.

Secured Loans

Loans can be classified into two major categories: unsecured vs secured loans. An unsecured loan is typically not backed up with security or any asset; you can read this article to learn more about unsecured loans. Secured loans on the other hand are secured with collateral (assets). If a borrower cannot pay back what they borrow, the lender can possess and sell off the collateral to get back their money.

Secured loans reduce a lender’s risk because they have a safety net to fall back on. Even when a borrower’s creditworthiness is poor, the lender can still take the risk of approving their application. When it comes to refinancing with payment notice, most lenders will only approve your application if you have an asset to offer as collateral.


You must also be able to prove that you can pay back what you borrow even when you are offering collateral. This is where your income comes in. The lender may require that you earn a particular amount of money for them to approve your request. Therefore, they may ask for proof of your income and employment.

Below 85% Loan to Property Value Ratio

The loan-to-value ratio of the asset you want to use as collateral must be less than 85%. Again, the collateral is there to reassure the lender. It must be valuable enough for them to get their money back if you fail to pay it back.

If you are unable to meet these requirements, then it may be quite difficult for you to get the refinancing. However, there are still other options that you can use. For instance, you can consolidate all your small debts into a big one with better terms and interest rates; this will help you pay it off faster. Some lenders may also accept a guarantor who will give up their property as collateral on your behalf.

Steps to Refinance with Payment Notice

The first thing you have to do to refinance with a payment notice is look for a lender that will accept your application despite this. Contrary to popular opinion, it isn’t difficult to find a lender who will accept your application despite this dent in your credit history. You simply need to do your research.

The next step is to evaluate the terms of your current loan, from your interest rate, monthly payment, repayment terms, and so on. Knowing all of these will help you find a deal that will offer better terms than the current one. Once you find another loan and lender, evaluate the terms offered to you and be sure it’ll help you meet your refinancing goals.

In some cases, the lender of your current loan may charge you a prepayment penalty for paying back your debt earlier than the expiry date. Evaluate this cost, as well as any other cost of refinancing, and be sure that they won’t be too expensive and negate the entire purpose of going through this process. When you are sure of the terms of the new loan, follow the instructions to apply for it and await approval. After you get the funds, pay off your old loan, and then start making payments for the new one.


Once you can put your finances in order through refinancing your debts, you need to make sure that you do not incur another payment notice. As you already know, these notices can significantly inhibit a person’s finances. Do your best to avoid taking on too many loans to avoid putting too much financial burden on yourself.

Vivek is a published author of Meidilight and a cofounder of Zestful Outreach Agency. He is passionate about helping webmaster to rank their keywords through good-quality website backlinks. In his spare time, he loves to swim and cycle. You can find him on Twitter and Linkedin.