If, on the other hand, you have problems with debts, taking a consolidation loan is not a bad idea at all. If the sum of installments that you pay every month exceeds your financial capacity, the consolidation loan can do a lot to solve here. More commentary at customvmail.com

 

Consolidation loan with bad history

Consolidation loan with bad history

Unfortunately, you have a bad credit history and probably banks fall out because a good credit history is one of many conditions that a borrower must meet when applying for a loan for debt consolidation.

 

What will a consolidation loan for indebted give me?

A consolidation loan for indebted people will allow you to:

  • lowering the monthly installment
  • will provide one installment, not several installments
  • will allow for credit holidays (grace period in loan repayment)
  • maybe additional resources if you have good creditworthiness

As you can see from the above, such a loan has many benefits. With this solution you can break out of the debt loop that slowly tightens your tentacles on your home budget.

 

Where to get a loan for debt consolidation?

It is a pity that you have a broken credit history, because the banks offer for a consolidation loan are very wide and there is a lot to choose from. An interesting feature is also the submission of online consolidation loan applications, it is a great time saver, especially for those who have no means communication (eg me) or living away from the city.

 

Non-bank consolidation loan

Loan companies that are not subject to KNF supervision remain in your situation. Plus, the private companies do not put as many conditions as banks. Loan companies do not check:

  • BIK-u
  • KRD
  • BIG InfoMonitor
  • or ERIF

On the other hand, the downside is that non-bank consolidation loans are much more expensive than in banks. It is worth remembering to calculate everything and decide for such a loan if we are 100% sure that we will be able to repay such a loan, otherwise our debts will grow to much larger sizes!

Before you apply for such a loan, carefully write down your debt on a piece of paper, that is:

  • total amount of debt
  • the total amount of monthly installments
  • Average interest rate (APRC)
  • also calculate the maximum installment you will be able to afford every month!

 

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