Debt consolidation: The golden rules of debt restructuring

Debt consolidation is a subject that remains very taboo in Switzerland, and which we find it difficult to talk about. Indeed, talking about your financial problems is not a common subject, and it is difficult to admit. We are often ashamed to find ourselves in this situation, and are also afraid of being judged by moralizing people. Further illustration at

Clean up debts in Switzerland

To date, you can find several companies in Switzerland that offer to clean up your debts. The debt consolidation service allows you to delegate the management of all your receivables to an establishment specialized in the field, this so that they set up a single monthly payment to catch up with your arrears, and so that you can avoid to fall for prosecution.

This type of service brings many advantages, for example, you no longer have to manage the relationship with your creditors concerning your arrears, your reminders stop, lawsuits are blocked, and you benefit from advice personalized to your needs. as well as an experienced team in the field who will keep a detailed follow-up of your financial situation, so you can know where you are at all times. For more information on debt restructuring, we invite you to read this article.

What should you watch out for when concluding a mandate?

There are a few important points to take into account when signing a reorganization mandate, because sometimes malicious people try to take advantage of the distress situation to make you sign a debt reorganization mandate which would not be consistent.

In order to avoid this kind of problem, you must carefully read the mandate that will be given to you, and in which you must be able to find certain guarantees, which we usually call “the 4 golden rules of ‘a debt restructuring plan’.

The 4 golden rules must be an integral part of a debt restructuring mandate. These rules must be respected by the company that you have decided to mandate, on pain of the mandate not being valid vis-à-vis the law.

Unfortunately, it often happens that this is not the case and that the golden rules are not highlighted in the mandate.

At Cream Bank, we have made it a point of honor to respect these values ​​so that you can calmly get out of your debts.

Below, we therefore detail the golden rules that we guarantee you when signing a debt restructuring mandate:

  • The costs must be presented to you in a transparent manner. They are explained to you clearly during the appointment with the adviser with whom you are meeting.
  • There should be no hidden fees . When signing a mandate, you know exactly how much you will have to pay. Everything is included in the price of the mandate. Fees for letters, telephones, etc. are forbidden.
  • You must be able to terminate the mandate at any time. You are free to choose whether or not you wish to continue paying the monthly payment at any time.
  • There should be no termination fees. In the event of early termination of the mandate, you may not be charged any termination fees.

Debt Consolidation

On the other hand, the Cream Bank promise is that debt consolidation will always be cheaper than credit, and that you will never be judged. You can speak to us without shame.

Would you like to meet with us to discuss it in person? We listen to you, we understand you, without judgment. Explain your situation to us without shame, and we will improve it quickly.