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German to English translations [PRO]
Bus/Financial - Finance (general) / Banking | | German term or phrase: Altkredit | The context: financing application, and in the course of disclosure, the borrower needs to state whether he has an Altkredit.
I believe this is a loan that goes back a long time i.e. when interest rates were pretty high, or before the Währungsreform. I am not sure. |
| | | existing loan | Explanation:
I'm not 100% certain (given the lack of context/background), but this could simply refer to an existing loan which may or may not be refinanced via the new facility applied for.
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Note added at 2002-10-10 07:02:53 (GMT)
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Richard has a point - but that depends on whether the loan application concerned is related to East Germany. There is some doubt due to the fact that the law regulating relief on \"old loans\" is called \"Altschuldenhilfe-Gesetz (AHG)\", and the eligible loans as \"Altschulden\" or \"Altverbindlichkeiten\".
See this explanation by KfW:
http://www.kfw.de/DE/Unsere Kreditprogramme/Kreditprogrammed... |
| Selected response from:
 Ralf Lemster
Germany
Local time: 00:47
| Grading comment Thank you all; I will use the "existing loan" and add an explanation.
Antoinette
3 KudoZ points were awarded for this answer |
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The translation workplace 
peer agreement (net): +9