Payday loans debt help -Request loans to help consolidate debt

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Request loans to help consolidate debt

A consolidation loan which bank to choose and what is it, this payday loan consolidation? Is a payday loan consolidation a good solution for indebted people who have several loans?

Yes and no. In the article below you will find the advantages and disadvantages of consolidation… You will learn what a consolidation loan is and in what situation to use it.


Consolidation loan what is it?

A consolidation loan is the same bank loan as cash or cash loan. It really becomes. another debt. It differs in that the money that the bank lends us is intended to repay other bank loans or loans. And the bank determines which loans and loans we can consolidate. The vast majority of consolidation loans are used to consolidate debt resulting from loans and cash loans, followed by car loans, housing loans, and installments.

Some of the banks also allow you to include credit cards and loans in personal accounts for consolidation. In the case of consolidation loans, you do not receive money in your hand (unless it is a loan with additional cash, but more on this later in the entry). The bank transfers money to banks in which you have debt. In this way, credits and loans that you have in other banks are repaid with a new loan: you now have only one loan, with one payment date in the “new” bank.

Types of consolidation loans

We can distinguish two types of such loans: a cash consolidation loan and a mortgage loan. In the case of cash consolidation loans, the interest rate on the loan is similar (or slightly lower) to loans and cash loans. They are granted up to PLN 200,000 and for a period of up to 10 years. Mortgage consolidation loan: a loan granted for a longer period (even 30 years) and much larger amounts. The interest rate is lower (at the level of mortgage loans), but the property is secured (eg a house or flat). The real estate may be part of the consolidation (and thus the loan security) or only with the loan collateral.

Advantages of consolidation loans

Banks, in order to gain new customers, present primarily the benefits of this type of solution:

  • one installment instead of several,
  • the installments are much lower than the sum of installments paid so far,
  • the high amount of unsecured loans,
  • long loan period,
  • additional cash (under the loan, i.e. a new loan included in the consolidation) for any purpose.

Is a consolidation loan always a good solution for everyone? After all, we often hear about the fact that one should not be overly indebted, and further credits and loans can only lead to a debt loop? Without “embracing” our home finances and sanction, no consolidation will help us. Above all, you should think about how to heal your household finances to make more money in your household budget. A consolidation loan will certainly help us improve financial liquidity, but it will not eliminate the debt problem. It is, therefore, necessary to simultaneously reduce expenditure and start planning it in a short and long time. We have to learn to save – less spending – and putting aside money, not just for a black hour. It may turn out that in order to balance the budget, it will be necessary to look for new incomes. Every loan, not only a consolidation, is for people… rich: you give away much more than you borrow.

Expensive consolidation loan

Expensive consolidation loan

This is a beneficial solution in a few cases, which must be supported by the additional measures mentioned in the first part of the article (saving). The decision on a consolidation loan must be made when we know that in the near future we will have difficulties in paying the loan installments. No one is a fairy, but some things should be anticipated: new, long-term expenditures will appear; there will be a significant reduction in income received, etc.

An important principle when choosing any financial product is to compare and analyze it before making a decision. Also in the case of consolidation loans. Consolidation loans and great offers are very beneficial, but we also find weak offers, to put it mildly. In any case, we are not only driven by advertising (emotionally) only to the issue of credit should be approached rationally and analytically. A consolidation loan can help us to get extra cash that can be put off.

5 ways to not get out of debt today

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Who wants to end debts thinks high – I want! Sometimes it is a lack of planning that makes us sabotage our own efforts, while at other times bad habits lead us to unnecessary spending. In any case, it is not always easy to change the routine. Especially when you do not recognize what is causing the problem.

If you are doing your projects but in practice, your financial gains are not going as planned, it is possible that the way you handle the money is not right. And I go further, maybe you are the source of your money problems yourself. But be calm, this is more common than it seems.

There are dozens of things that people do to get out of the vicious circle of debt. To tell you the truth, there are people who do not live without contracting a debt and preferably in installments. As you read the article you can see that we highlight the ways in which we sabotage ourselves and our finances every day by creating more chances of not ending debt:

# 1 – Trying to compare yourself to neighbors and friends

# 1 - Trying to compare yourself to neighbors and friends

Having friends with a good financial condition is often synonymous with alert because this can become a big problem to control your finances. If you try to accompany them on your expenses when your income does not allow you such luxuries, you will get into debt and fall into an endless circle that can cause a lot of stress, frustration and ultimately regret and financial bankruptcy.

When it comes to money, or you have, or do not have, try not to compare yourself to others or buy what they buy. Do the best you can according to what your budget allows, you may not live with many luxuries but will certainly live quieter and better.

And, let’s be honest: there is a good chance your friends will not be able to pay for their lifestyle and they will be struggling to get out of debt just like you. So get out of this dispute for no purpose at all.

# 2 – Using Debt as an Extension of Your Income

# 2 - Using Debt as an Extension of Your Income

While many people think of debt as a very negative thing, it is possible to use it responsibly. Most of us need to borrow money to buy a home or a reliable car, otherwise these purchases become almost impossible.

But debt becomes a problem when you use it without thinking. If you use credit cards to buy things you do not need and can not afford, you may end up throwing hundreds – or even thousands – of real interest payments, down the drain, every year.

Instead of using debt as an extension of your income, use it in moderation – and when you really need it. By avoiding useless credit card debt and the bills that come with it, you can save and profit a lot from this by keeping more money in your bank account.

# 3 – Buying without responsibility

# 3 - Buying without responsibility

Prices can vary too much from one thing to another, from monthly subscriptions for products and services, insurance, clothing, to groceries and cars. If you are not in the habit of researching the best price when making your purchases, I have bad news to give you: you will hardly have money left over and you will always be in debt.

Compare prices to end debts

Compare prices to end debts

While some expensive purchases require weeks of research, day-to-day shopping should not be neglected, strive to do good business, even on little things. Luckily today technology is in our favor, so you can compare prices for most consumer goods online, and very easily. So there are no more excuses for you to stay in the red. It is possible to start changing your habits.

Whatever purchases you make, make sure you compare prices with at least three competing companies. That way, you will not end up paying more than you should without even knowing.

# 4 – Negotiate new car every year

# 4 - Negotiate new car every year

As of the first quarter of this year, surveys pointed out that the average loan repayment for the new car purchase was R $ 506.00 per month and 68 months duration. With such statistics hovering over our heads, it is no wonder that many of us are struggling with debt and living to work.

If you are thinking of trading your car, pick up another newer one… Stop! Calm down then. It may not be the right time for this. Consider keeping your car for a few more years, worry about taking it off, enjoying it for a while without debt.. the feeling is great. Once you no longer have the monthly financing commitment, then you can start thinking about buying a newer car. It may sound silly but I assure you it is the best option.

Just think about how much money you could save if you were not paying R $ 300 to R $ 600 a month more on this whole joke. It works great to put the numbers on the tip of the pencil because it makes us think and helps us make wiser decisions.

# 5 – Paying Minimum Credit Card Balance

# 5 - Paying Minimum Credit Card Balance

Raising credit card debt with today’s high interest rates is already pretty bad. Now falling into the trap of paying the Minimum is an absolute disaster.

A family with a balance of $ 10,000 on a card with an 18% margin and paying only $ 200 a month (the minimum) would take more than seven and a half years to pay for everything. Worse, they would pay $ 8,622 in interest on the lawsuit.

How to end debts!?

If you are pushing your debts with your belly and you have fallen into the trap of minimum payments, I must tell you that you are only postponing the disaster. Face your debts head on, it may be difficult at first but the sooner you do, the faster you can get out of them.

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Repayment Loan For Everything

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Non-bank loan available immediately

Non-bank loan available immediately

Repayment Loan is a unique non-bank product that is available not only through Internet request but also through a mobile phone. A loan with which a credit limit of up to CZK 12,000 is attached. Both single repayment and gradual monthly payments can be used.

You can have money on your bank account today, which is not only influenced by the simplicity of the application, but also by the speed of the approval process and the payment of money. With the settlement of the Repayment loan, there is only a single fee of 20%.

Installment Table Small Mortgage

Installment Table Small Mortgage

Loan Amount Repayment period Minimum installment Drawing fee APR * Total *
1.000 Kč within 3 months 400 CZK 200 CZK 247,58% 1.200 CZK
5.000 Kč within 3 months CZK 2,000 1.000 Kč 247,58% 6.000 Kč
10.000 Kč within 3 months 4.000 Kč CZK 2,000 247,58% 12.000 Kč
12.000 Kč within 3 months 4.800 Kč CZK 2,400 247,58% 14.400 Kč

* when paying the full amount in the first installment

Representative example: From time to time, a smaller amount of money is needed to resolve unexpected life situations. Sometimes, for example, an amount of CZK 2,000 is enough for an Repayment loan to secure you in a moment. In this case, you will automatically obtain APR 411.1%, which is caused by the fee for drawing 20%, ie CZK 400. Furthermore, the interest is CZK 707. You will pay a total sum of 3 107 CZK. Maximum maturity can be up to 240 days. On repeated requests, a reduction in APR can be achieved.

Repayment loan for anything

Repayment loan for anything

Earn money to fund any needs and do not limit yourself. Ask for money for anything. A revolving type of full repayment loan is applicable to personal needs, hobbies, purchases or payments for a variety of services. This is useful, for example, before payday.

On Repayment loan you will appreciate its flexibility, administrative simplicity and professional client services. The advantage of this non-banking solution is that you can repay individual withdrawals during the month only at the end of the next month. In short, a variable lending model.

In terms of availability, the loan is open to everyone who meets the basic conditions. Just be a solvent client and money is yours.

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Loan with Property Assurance: How it Works, Rates and Simulator

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Is it possible to take a loan with a guarantee giving the property to the bank? Yes! And this is one of the most advantageous alternatives in the market for those seeking to get credit without paying high interest. The interesting thing about this proposal is that it is possible to get high values, and pay them on more extended terms. Therefore, this type of credit has become more common lately, even if some people still distrust the proposal or feel afraid. But of course, using with intelligence and caution there is no danger.

What is secured property loan?

What is secured property loan?

This type of loan is also known as mortgage or refinancing. It is when the client places the home residence or commercial as collateral for the bank, in order to achieve the release of credit. The amounts granted may vary according to the valuation analysis that varies from bank to bank.

The tip for not having problems or regrets is, before undertaking this business you have to be aware of the conditions, know exactly how the rules work and the total interest that each bank and financial institutions offers. As said, conditions may vary, since the interest issue is low on secured home loan compared to other loans.

How does secured loan work?

Each bank usually has its own policies, grant rules and trading conditions. So, consider all the possibilities before choosing the bank to close the loan. Normally, the time for paying off the debt is quite long. It varies from 12 months of payment, being able to reach 15 years, or even 20 years (maximum). This varies greatly from the conditions of each bank.

Already the amount released to the customer, can also vary from bank to bank. The credit released usually corresponds to up to 50%, 70% of the value of the property. Depending on the value of the property it is possible to get a good release of credit.

Where there are rules you have to be careful. The property to be given as collateral of the debt must be removed, without financial problems, and also in the name of the owner who is requesting the refinancing of the property. In the latter case, depending on the bank, the property may be in someone else’s name, however it needs to be aware of the trading and the disks it incurs. Therefore, the payment time, as the release of the credit varies greatly from the creditor institution, and the conditions applied by it.

Myths about the loan with property guarantee

This type of personal loan is well known and realized in the United States. In Brazil, in recent years it has become a more common practice. There are still myths behind this kind of debt. Many believe that the bank’s goal is to take the home or the customer’s car.

Of course not! It is much more advantageous for the bank to carry out the loan than to stay with the house, or car, because it represents costs for the bank, such as payment of IPTU, among others. Of course, if there is no payment of the installments, a sale auction of the property is made.

How much to choose with the property loan?

This trading option is indicated for those who are experiencing serious financial problems, for example, high debt and high interest rates. So it’s a good choice. But when used with caution is also indicated for other issues such as:

1 – Purchase of a new property

2 – Realization of general reforms

3 – Carrying out an international trip, courses, among others

Advantages of secured home loan

The main advantage is that there is not much bureaucracy, ie depending on the conditions of the bank, you can quickly release the credit. Another advantage is the debt repayment time, which in some cases can extend up to 20 years. And of course, the interest rates are lower compared to other types of loans, that is, you do not lose so much money.

It is advantageous to opt for this financial product, but it requires the person’s planning and organization. Because if this does not occur, it may end up losing the property. But the bank will always try to negotiate, but do not let the installments pile up, even because the choice for this loan is for a way out and not for the accumulation of more debt in your account.

Warranty Loan Simulator

Warranty Loan Simulator

Total Requested (Amount in R $) Months Interest Rate (per month) Plot Value Amount

In addition to other financial institutions. Before choosing any of them, do a search. Depending on the bank this may present you with better conditions than others.

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A number of things to look out for with debt consolidation

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Debt consolidation can put an end to your financial problems. Loan providers ensures that you get rid of your problems as quickly as possible. If you opt for an debt consolidation, the debt counselors seek out the creditors to make a proper arrangement. There are some conditions attached to that. For example, you must have debts that you cannot pay. However, you must be over 18 years old, registered with the municipality where you live and have an income. Together with you, the professionals ensure that your financial worries decrease little by little.

The duties during an debt consolidation

If you end up in an debt consolidation process, this is not without obligation. Loan providers ensures that you adhere to the agreements, so that you can get rid of all problems quickly. For example, you must be in possession of a valid proof of identity. But there is more, such as the obligation to provide information. You must provide information to your debt counselors so that the financial situation can be properly monitored. The obligation to cooperate is also very important if you have received the agreement for an debt consolidation. The better you cooperate, the easier your financial self-reliance will become.

Will an debt consolidation not work? Then the legal debt consolidation is always an option

With debt consolidation you will get rid of your financial problems in a relatively short time. The debt counselors try to make arrangements with creditors, so that you are free of all problems. Yet it may be that the creditors do not agree with this. Even then Loan providers will continue to support you. With a statutory debt consolidation you pay an amount that you can miss in three years, every month. You do this on the account of your administrator. Does this work? Then you start again with a clean slate. This means that the creditors can no longer claim the residual debt and that you no longer have to pay the debts that you still have outstanding. Even if an debt consolidation would not work, the professional can still help you.

With debt consolidation you will get rid of your financial problems in a relatively short time. The debt counselors try to make arrangements with creditors, so that you are free of all problems. Yet it may be that the creditors do not agree with this. Even then Loan providers will continue to support you. With a statutory debt consolidation you pay an amount that you can miss in three years, every month. You do this on the account of your administrator. Does this work? Then you start again with a clean slate. This means that the creditors can no longer claim the residual debt and that you no longer have to pay the debts that you still have outstanding. Even if an debt consolidation would not work, the professional can still help you.

Categories: Payday Loan Help

Loan consolidation – what it is and how to consolidate a loan debt

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How to consolidate loan debt? What documents are needed for consolidation?

How many times can I do this procedure? In which cases it is profitable to consolidate the debt, and in which not?

Loan consolidation is a change in the terms and conditions of a valid loan agreement (extension of the loan term, deferred payment of debt, reduction of interest on a loan, replacement of currency) to facilitate debt repayment to borrowers in difficult life situations.

When incomes have fallen, overdue loan payments are becoming commonplace, debt is growing like a snowball and there is no way out of this situation, the best option would be to change the terms of the loan.

Not every bank in such a situation willingly goes to meet the client. To increase your chances of success, it will be useful to know what a loan consolidation is, under what conditions it is possible, and what ways there are to convince a lender to consolidate exactly your loan.

When consolidation is required

Experts recommend contacting for consolidation as soon as you feel that it is about to become impossible to pay the loan.

For example, if you were fired from your job or you went to a long hospital . To be ashamed of nothing: for bank employees, such requests from borrowers are common. You still have no overdue debts, there are more chances to consolidate a loan on decent terms.

Another thing is that not every bank will agree to change the parameters of the loan.

The bank itself appeals to the client with a proposal to change the terms of the contract if there is a delay (usually from two months), and the client does not have liquid property that could be recovered as payment of the debt.

Here are a few conditions, without which your application for consolidation will not even be considered:

  • documented valid reasons for the borrower (a sharp reduction in income, dismissal due to the closure of the organization, etc. – see the full list below);
  • the client has not previously consolidated or refinanced loans (the use of the “credit vacation” service in its various forms is also taken into account, so be careful);
  • prior to the current loan, the borrower did not have late payments;
  • client age does not exceed 70 years.

What benefits can consolidation loan bring?

By reducing the monthly credit load, the borrower is able to:

  • Do not ruin the irrevocable credit history (usually data on delinquencies lasting more than 2 months are transmitted to the National Bureau of Credit Histories;
  • to avoid legal proceedings with a bank (for a credit history, this is a mortal sin, and few people like to participate in litigation);
  • save your property from enforcement;
  • repay the loan at a new due date.

Whose loans can be consolidated

Banks have a list of categories of clients that can be included in consolidation programs. Among them:

  • laid off employees due to reduction or closure of an organization;
  • Employees who have been formally notified by the employer of a pay cut;
  • SP, whose business suffered serious losses;
  • owners of foreign currency loans affected by the devaluation ;
  • affected by natural disasters and major accidents.

Several other rules apply when considering consolidation for mortgage holders. Here are the factors:

  • housing purchased with a mortgage should be the only one;
  • net income for each family member (excluding mortgage payments) – no more than three minimum wages ;
  • There is no property that can be used to repay loans (car, securities, real estate).

How is the loan consolidation

1 Fill out the form of the bank. It contains information about the loan, the monthly payments, the reason why the borrower applies for consolidation. You must also inform the bank about your income (provide a 2-NDFL certificate to assess the dynamics of income), major expenses and available property.

With the consolidation of the mortgage provided documents for the acquired property. In addition, most banks provide an opportunity to choose a specific way to change the terms of the contract. Far from the fact that this wish is realized, but one way or another your opinion will be taken into account.

2 We transfer the questionnaire to the department for work with credit debts .

3 We meet with the bank manager , we repeat everything that was written in the questionnaire. Together we choose the most suitable consolidation scheme.

4 We write an application, we attach documents (a copy of a passport, a loan agreement, certificates confirming changes in the level of income).

5 In the event of a positive decision is made a new agreement. It is prescribed consolidation scheme. Please note: if you had a guarantor under the consolidated agreement, it is impossible to start the procedure and make another contract without his consent.

Before signing, make sure that the previous agreement is closed (usually a corresponding certificate is issued), and you are satisfied with the payment schedule for a new document. If you are offered to first sign, then print the schedule – do not agree, ask for full information.

If received a refusal, ask to issue it in writing with indication of the reason. Sometimes it helps in the subsequent trial process. Your obvious desire to repay the debt with a confirmed unwillingness of the bank to create conditions for this may be the reason for the court to oblige the credit organization to consolidate the loan.

Categories: Loan

What to check when comparing payday loan agreements?

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Taking out a payday loan  should always be a well-thought-out act.

Co sprawdzić, porównując umowy kredytowe?

Currently, we find a lot of attractive payday loan  offers in banks and non-bank companies. When we want to borrow money, we should also carefully compare the contract. It is in them that we find key information!

Finding a good payday loan  or bank loan is not very complicated today. We can compare offers via the Internet, use special calculators or rankings. However, we should not decide on a specific one without looking into the contract. By signing it without reading it, we agree to all subscriptions at the same time. What to check when comparing loan agreements?

In a credit or payday loan agreement you will find information such as:

• parties to the contract – the lender and the borrower

• date and place of the contract

• payday loan or credit amount together with the total amount to be repaid

• repayment time of the payday loan or credit with set exact dates

• payday loan repayment rules

• interest rate and other fees, for example, preparation fee, margin

• terms of withdrawal from the contract

• consequences of not repaying the payday loan

Of course, these are only selected information, because in reality there are many more. That is why contracts usually have a few pages written in a small print. They may deter, but in fact the lack of familiarization with the terms of the contract will work to our disadvantage. If we have any difficulties in reading the contract, it is worth asking other people. You can also contact the lender for additional information.

What to pay special attention to when reading the contract?

Above all, we should look at issues related to payments. Let’s check the exact amount of the payday loan and the amount to be repaid. Please note what payday loan costs were included in the contract. Then we can see which payday loan will be more attractive to us.

We should also read the table of additional fees. It defines in what situations a financial institution can take them and what are they. This applies, for example, to the costs of extending the payday loan repayment period or debt collection.

It is also worth to look at repayment terms – when we decide to pay for money , then most often we pay the debt in one installment after 15, 30 or 60 days. On the other hand, in installment payday loan, we pay installments to the designated day of each month. Then we can spread a larger sum for more convenient payments for us.

Installment payday loan with a clear contract

In the payday loan company, we meet the expectations of customers – on our website you can see the payday loan model and its detailed records. Thanks to that our clients can get to know them immediately without having to fill in a payday loan application .

If there are any additional questions related to the offer, we are also available. Our consultants will answer exactly and present the terms of the payday loan so that they are understandable. You can call us, write an e-mail or use the on-line chat.

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