A compound loan brings you savings of up to a thousand dollars a year! Apply Now!
Lenders make a loan offer based on a customer-specific assessment. The current annual interest rate offered may vary between a minimum of 4.5% and a maximum of 30.6%. The loan period offered varies from 1 to 15 years. The loan amounts offered are between USD 2000 and USD 60,000 and the loan amount offered may be less or greater than the loan amount applied for. The nominal interest rate offered shall be a maximum of 20% and the other costs of the loan shall be limited to USD 150 or 3.65% of the amount of the loan, whichever is lower.
The consolidation loan significantly reduces other expenses
More and more people have a default payment entry. At the beginning of 2018, 376,000 consumers had already found a payment default. So it’s no wonder that more and more consumers are looking for solutions such as a consolidation loan to facilitate the repayment of many loans.
Borrowing more than one instant or quick loan quickly results in the current interest rates being lower than the other cost of the loan. Such costs include: loan administration costs, billing surcharge and loan withdrawal fees. Loan servicing costs can range from a few dollars to a couple of tens of dollars. For example, for 5 separate loans with a monthly fee of $ 20 you can shell out $ 100 a month, or $ 1,200 a year. This comes down to the repayment of every loan, so it’s no wonder that some consumers are really in trouble with more than one small loan. At its best, combining loans can save you thousands of dollars a year.
You can easily apply for a loan to combine expensive loans with our service.
We will send your application to several banks and financial institutions. Every bank and financial institution will make a personal offer for you, so you can be sure that the interest rates on the offers are very competitive. We promise you an offer if you meet the following conditions: You are in a permanent employment relationship, over 20 years of age, have a gross income of over USD 1,200 per month and have no defaults. With our service you can apply for a $ 500- $ 50,000 consolidation loan without any security. You can choose between 1 and 15 years.
A properly used combination loan is a very smart bet, but it is not always the best option either. For most, bundling is sensible and economically viable, but in some cases it is simply not possible. Loss of credit information prevents you from obtaining a loan, so it is also impossible to apply for a consolidation loan. The borrower’s income level and work situation also influence whether or not he or she is eligible to receive approved loan offers for credit consolidation. In such situations, you may want to turn to your local debt counseling service. It is by no means worth applying for an additional loan to repay old loans, as this will inevitably lead to a debt spiral. It would be good to get the debt spiral off as quickly as possible so that the debt burden does not grow unnecessarily high.
Creditors are generally sympathetic and often agree to different payment arrangements, as the cost of credit recovery is also high for them. If you are in a situation where the repayment of your loans seems insurmountable, you may want to check with your area’s debt counseling. Debt Advisor will help you identify expenses, income and debts. This calculation can often help you outline the steps required to pay off your debts. Debt counselors help negotiate payment arrangements with creditors.
A mortgage loan is only worthwhile if you are able to repay the loans
So consider a compound loan only when you are sure that you will survive on a new, bigger loan. The easiest way to evaluate your repayment ability is to calculate the difference between your expenses and your income. You can perform the calculation manually or use applications developed for tracking your finances, such as the Tink application. The Tink app downloads your account information from your bank and automatically calculates the difference between expenditure and revenue. It can sort your shopping into different categories based on where you buy it. Categories make it easy to see the big picture of how much you spend money on different things. It also shows the difference between income and expenditure over the last 6 months, so you can easily see if your spending is too high in relation to your income.