The reunification of loan is one of the most common solutions to reduce loan in the short and medium term. If the personal solvency is affected by the letters of financing, cards, consumer loans or mortgages, one of the best options is to combine the credits in a single loan to be able to face the payments in a more comfortable way.
Resorting to loan reunification or loan consolidation offers the possibility of reducing the interest rate and improving the financing conditions of some loans. but also, there are more advantages to reunifying loans.
Advantages of reunifying loans with quick loans
1. The monthly fee is reduced
One of the main advantages of reunifying loans is that when loans are grouped around a new loan, you can negotiate a new return period in the medium or long term to reduce the monthly letter. It is a good solution when you have many letters of different loans even if they are small, since added damage the solvency of all months. It is better to make a reduced payment for longer than to concentrate a high short-term loan, especially if you do not have sufficient solvency to cope.
2. More advantageous conditions can be negotiated
Sometimes, some personal loans or credit cards have been contracted with very high interest rates. Another advantage of unifying loans with a global credit is that the conditions can be re-agreed. Of course, for this the beneficiary must be an attractive customer for the financial institution, that is, have a good credit history, have not incurred defaults and have regular income.
3. Guarantees are not necessary
Many of the quick loans that are contracted through the Internet, such as those offered by the Bank portal, do not require additional guarantees. No need to mortgage a property or provide extraordinary guarantees to receive the money. Thanks to this, more and more people have access to credit and can solve their financial problems.
4. The amortization period can be shortened
Depending on the capacity and the forecasts that each person has, a global loan can be requested to pay off other loans without this implying a long repayment period. Moreover, the beneficiary can organize a financial plan that allows you to save by paying less money each month to make capital repayments . This way you will be able to pay less interest and return the money beforehand.
5. You can choose different financial offers
You can not lose sight of the fact that the bank’s business is lending money. Entities launch attractive offers every day. In portals such as Bank , the user can access the best proposals of the market and customize their request.
6. You only have to worry about a single payment per month
The beneficiary of the loan consolidation operation only has to pay a monthly fee. It is not aware of the dates in which the fees will be charged and of having liquidity in the bank for each moment.
7. Less linked products
Another advantage of reuniting loans is that many loans are linked products . If the person has to pay the letters of three credits each month, most likely he has been forced to contract three different life insurance, with the costs that this implies. In the case of including all the financing in a single operation, the client can choose to contract or not linked products, and if he does, he would only have to have, for example, life insurance.
8. Transparency in management
The legislation that regulates consumer loans is very clear in terms of transparency issues that must govern each of the operations. In the loans that are offered in Bank , for example, the financiers are obliged to offer all the information to the user before making the request. Thus, the client knows what the processing fees or expenses, interest and the total amount of all the costs of the transaction amount to. With this information, the applicant can calculate whether he is interested or not in making the request.
9. It is better to group than to stop paying
The option to stop paying a loan is expensive and risky. The client has signed a contract with a series of obligations and if they are not complied with, the bank can execute all the penalties that it has foreseen and that are exposed in the contractual document. Therefore, one of the main advantages of reunifying loans is that, before entering into a default due to lack of liquidity or solvency to face many payments, however small, you can group them to be able to cope.
The entities assess the score of each person before granting the money, therefore, to benefit from better conditions, it is very important to maintain an unblemished credit history.
Reunifying loans is one of the financial options that is available to individuals and companies. Quick loans are simple, agile and transparent. They are presented as one of the best solutions to carry out this type of operations that allow the client to return the money in a more comfortable way without jeopardizing their monthly solvency. More and more people are turning to portals like Bank to solve the lack of liquidity and better manage their level of inloanedness.