Consolidation loans bad credit -Consolidate loan payments fast with us

The consolidation of credits is currently on the rise. No wonder, given historically low interest rates in recent years. But despite its popularity, many of us do not know exactly what it is. Let’s try to fix it.

What are you waiting for? Consolidate loan payments fast with us

Consolidation loan at is a financial operation that aims to collect all the credits contracted in one credit.

Let’s try to simplify …

Many of us have many credits in our name because we use them to finance our house, our trips, our cars, etc. It is therefore quite common to repay different credits in the same month but rarely on the same day.

Repaying several credits can be tedious: juggling several monthly payments that are not necessarily taken at the same time can make the management of these credits difficult and increase the probability of forgetting to pay a monthly payment … with the consequences that follow (it for example, it will be necessary to pay interest for delays). Grouping your different credits makes it easier to manage the credits, but it will also facilitate the management of your budget.

From a financial point of view, it can also be interesting to group these different credits, because instead of paying different monthly payments, you will pay only one monthly payment that will sometimes be less than the sum of the different monthly payments.

A payday loan consolidation may be good for everyone

But especially if you are in an over-indebtedness situation. Sometimes an unplanned event – such as job loss, divorce, illness, etc. – can cause you to accumulate credits, late payments, etc. and it is not unusual to find oneself in a precarious financial situation.

The repurchase of credit is a good way to fight against this over-indebtedness. For example, you can reduce the monthly repayment by extending the repayment term. It is sometimes possible to obtain a better interest rate by renegotiating, which will also allow you to reduce the overall amount of your monthly payment. However, do not forget that the interest rate must be lowered by at least 1% for the transaction to be attractive, because early repayment of a loan always leads to a penalty.


credit loan

  • Allows for better management: it is easier to repay a single credit than to manage the repayment of several credits.
  • Sometimes reduces the overall amount of monthly repayments, when you renegotiate the interest rate.
  • Lets reduce the monthly payment, when you extend the repayment period.

The inconvenients

credit problem

  • Increasing the term of the credit means increasing the total cost of your loan: you will pay more interest because you repay over a longer period
  • New fees (for example, filing fees, mortgage release fees, etc.) because you are changing banks.
  • Insurance can be higher. Take the example of outstanding balance insurance. You will probably have to pay more because you are older at the time of the renegotiation.

In short, a credit redemption allows you to spread your debts over time and more easily manage your budget at the moment.

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