Troubled clients now have not only a wealth of opportunities to get credit products. This group of people is also offered other services that are easily related to the loan and loan. We have in mind the option of consolidation for troubled clients. What is interesting and what will it bring? Let’s take a look at the main advantages. At the outset, we have to say that this is the so-called merger of loans. That is, primarily that they are combined into one single credit product. And it will bring benefits. What?
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While today you can repay several loan products at the same time as a troubled client, consolidation for troubled clients deprives you of them. And so that all your outstanding commitments simply merge into one. You no longer have to keep an eye on several dates, as there will always be only one and that is linked to one single installment. We must not forget here that a number of different loans can be combined in this way. Among the options that are among the most common and therefore the most widely used today are:
- Classic loans and credits
- Overdrafts – negative account balances
- Payment and installment cards
The second advantage of this path is also the fact that the overall interest rate will be reduced throughout the process. This will logically bring you savings as well as financial savings, within the amount you will overpay. In many cases, interest may be reduced by units, but also by tens of percent. Ultimately, this means that consolidation for troubled clients will reduce the total amount repaid by several tens of thousands. All of this is because we decide to consolidate with OnePayday.com.
We can pay less per month.
We must not forget another important advantage related to our monthly payment. A completely new calendar can be created to divide everything into longer periods. And what will it bring? Especially the positives that we will pay much less and so monthly will not burden our family or personal budget. However, as Alfa Loans writes, this step may also have one drawback: “ Another benefit is a reduction in the monthly installment and adjusting the parameters of the new loan to your current needs and options. Thanks to the lower repayment, however, you will extend the repayment term and thus reduce the repayment amount, but all the more you will overpay the bank on the total loan. ”
Yes or no?
The answer to this question is more than clear – yes. So on condition that we really check everything and we will be sure that after consolidation we will definitely pay less. If this does not happen, consolidating is a completely unnecessary waste of our time. And what to look primarily at? The combination of interest, APRC and the total amount that we still have to pay back.