By banks and non-banking institutions. For two or more debts. When it comes to debt related to the repayment of a car loan or a holiday. consolidation is a solution that combines several obligations into one. Learn the details and decide on this step before your budget reaches the dangerous limit.
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A debt consolidation loan is a banking product granted under banking law. When lending customers, banks must follow the guidelines issued by the Polish Financial Supervision Authority a very safe solution. Such supervision covers only banking institutions, i.e. banks and cooperative savings and credit unions. – The debt consolidation is therefore a that is governed by applicable law. How exactly does it go? We write about it below!
What is the consolidation ?
Consolidation is a combination of several loans into one with … a loan. First, an application for a consolidation loan is submitted to the bank or a trusted financial advisor. The money granted by the bank will be used to repay current liabilities – loans, payday loans, credit cards or account limits. The total amount of debt will constitute the amount of consolidation. Thanks to this, instead of several installments, different dates or different banks, there is only one loan and only one installment to pay.
One installment is not the only difference – see what else consolidation loan will give you!
Many think that the consolidation does not change much in the home budget, and its main advantage is the fact that you need the memory of paying one, and not several installments. It should be noted that the repayment time is also changing – it is possible to extend the financing period. This will reduce the amount of the monthly installment. In addition, if you opt for the consolidation loan, you can borrow an additional amount, of which, of course, the cyclical installment will increase.
Financial advisor knows consolidation!
Consolidation is difficult banking issues. As a result, people who could successfully obtain a consolidation loan give up this idea in fear of the consequences or formalities. Don’t know what to do with your debts? First, this financial advisor has over ten years of banking experience. It serves both individual and corporate clients. He provides mortgage and cash loans on the most favorable terms on the market. He is familiar with both personal and currency or savings accounts. In addition, he successfully serves corporate clients – offering loans or leasing not only cars. So don’t wait – contact an advisor and let the consolidation improve your budget situation!