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Data from institutions such as the Good Finance Information, for example, show that the number of Poles with more than one liability from a bank or credit unions is increasing.

An example is debtors simultaneously repaying e.g. overdraft on a personal account and a cash loan. The need to pay two or more installments at the same time does not suit many people.

The problem may also be the unfavorable conditions of at least one of the loans held. Persons complaining about current loans or borrowings should be interested in a consolidation loan as part of their spring financial orders.

For readers who have several loans, we are presenting favorable credit consolidation loans offers. People choosing such suggestions can sometimes also receive money for current needs.

As part of the introduction, it is worth remembering that granting a consolidation loan involves repayment of previous loan and credit commitments of the client and the change of creditor.

A bank or credit union consolidating such old debts may propose, among others, to borrow additional funds (increasing the value of the consolidation loan) or to reduce the monthly installment by applying a Long repayment period.

For some people, it is quite enough to combine several installments into one monthly payment and reduce the number of their creditors (to one bank that will consolidate). However, it is worth realizing that many debtors decide to reduce their installments and choose a loan period of up to 120 months.

This limit is the length of the repayment period proposed by the institutions compared in the table below. It should be emphasized that the list prepared by experts Sean Cole, in addition to the offer of three banks ( Good Credit Services ) also includes a proposal for a consolidation loan from the Credit Union Fast.

Overview of consolidation loan offers – May 2019.

Detailed information on the above consolidation loans:

  1. Fast Cash Register Fit loan – the loan is granted with a zero preparation fee. It is possible to take advantage of credit holidays. The consolidation covers cash loan, installment loan, car loan, credit card, overdraft and overdraft. It is possible to adjust the installment amount.
    2. Honest Bank Consolidation loan – for a repayment period not exceeding 60 months, a fixed interest rate applies. Good Finance customers can apply for credit online. Credit insurance is not compulsory. Payments are possible on the same day. It is possible to consolidate payday loans.
    3. Good Finance Consolidation installment – the loan is granted with a zero preparation fee. It is possible to obtain additional funds with a value of up to 25% of the consolidated amount.
  2. The loan is also available to people who do not have an account with Good Finance. The bank makes it possible to suspend repayments for three months (as part of credit holidays). Loan insurance is not compulsory.

An additional 25% can be borrowed when consolidating

All the consolidation offers we describe also have other benefits than the very long maximum repayment period (120 months). Interesting features of individual proposals are as follows:

  • Fast Cash Loan Fit – zero preparation commission, possibility to take advantage of credit holidays, the option of regulating monthly installments, a wide range of consolidated liabilities (cash loan, installment loan), car loan, credit card, overdraft, and overdraft).
  • Good Credit Consolidation loan – fixed interest rate with a repayment period of up to 60 months, no compulsory credit insurance, the possibility of consolidation up to USD 200,000 without additional collateral, withdrawals Payment of funds even on the same day, the option of applying for a consolidation loan via the Internet (for Good Credit Customer customers), consolidation of also moments.
  • Good Finance Consolidation installment – 0% commission, the possibility of receiving an additional amount (up to 25% of the consolidated debt) for any needs, the option of three-month credit holidays, no link between the loan and the personal account compulsory insurance.

The option of borrowing additional funds by the bank (see PKO BP’s offer ) means that the consolidation loan can also replace a cash loan or a cash loan.

he decision to grant additional credit to a client (as part of consolidation) will obviously depend on his creditworthiness. You must realize that a loan for any purpose under a consolidation loan can significantly increase the total costs of such a commitment.

A similar situation also applies to payment repayment into 96 months – 120 months. This variant is recommended only to people who have large commitments to consolidation or to those customers of banks and credit unions who know that they will soon be able to overcharge some or even total consolidation loan.

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