Combining loans, consolidation loans, is possible, but not necessarily easy as one might imagine. There is hardly any mention of loan consolidation on the member bank’s website. The topic refers to help with payment problems on the page, but otherwise, multiple loan consolidation is not actively highlighted in communications. This is understandable, as banks primarily want high-yield customers, not customers who already have payment problems with previous loans.
If you have collateral for a new loan, our site is probably the best option for consolidating several expensive loans. You will receive a personal loan offer, which will be determined by the interest rate. income, expenditure, security, and employment situation. However, it may be difficult to get a bank loan to pay off old loans if you are not secured, for example, by an apartment or summer cottage.
Unsecured loans provided by a bank could also be suitable for this purpose. For example, the current annual interest rate for the Special Loan for a loan of $ 10,000 is 8.16%. So this loan product could be a great combination for a loan if $ 15,000 is enough to merge your existing loans. Only a long-term customer, who is permanently resident, can apply for a special loan.
Flexicurity offered by a member bank is not necessarily the best option for repaying multiple loans. The effective annual interest rate on Loan Credit for the $3,000 loan is 17.6%. The maximum amount of a flexible loan is $ 3,000, so if you have expensive loans over $ 3,000, this is not a good solution.
We recommend that you always apply for a loan before applying for a loan, regardless of its purpose. Our service is specialized in bidding loans specifically for applicants for a consolidation loan. The banks and financial institutions involved in our service therefore also want consumers who are looking for a solution to repay expensive loans.
We can promise you a personalized combination loan offer if you meet the following conditions: You are at least 20 years old, have no defaults, have a gross monthly income of at least $ 1,200 and have a permanent employment relationship. You must also be permanently resident.
It is good to be aware that at some point you should seek outside help with your payment difficulties. The need to help is usually recognized by the fact that payment difficulties seem insurmountable and that the mere thought of financial difficulties is frustrating. If the problem is not met in time, the debt spiral can start surprisingly quickly. The worst solution is to get expensive debt over your old debt. It may alleviate difficulties for some time, but in the long run, it will only exacerbate existing problems.
We recommend that you seek help with your payment problems if you answer the following questions yes:
If you answered yes to all of these questions, we recommend that you seek outside help as soon as possible. In certain cases, you can apply for social credit to prevent over-indebtedness. But for many, debt counseling alone can be a big enough help to get your finances right. Debt Advice helps you identify your income and expenses, and negotiate with creditors new payment schedules that are realistic to your ability to pay.