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Speaking for payday loan consolidation, it often happens that you meet or hear customers who would like to find a solution to be able to “consolidate” but above all eliminate a series of loans that they have in progress, thus lowering the total monthly outgoings.
Let’s see together what can be some useful information to better understand what could be the best solution, but above all what could be the product to choose to solve the problem.
The consolidation of loans when it is imagined is normally done as the first motivation to reduce the monthly commitments.
How to consolidate? Certainly one of the certainties is that to be able to carry out a consolidation operation it will surely be necessary to lengthen the duration.
What products can be used as loans to consolidate debts?
The financial products that could be used are 3:
Personal Loan with current account debit or bulletins;
Personal Loan with debit in payroll with the assignment of the fifth;
Debt Consolidation Mortgage.
The first involves payment through the current account or postal bills and a signature can be requested to guarantee the loan. The second involves payment through the salary or the pension has a single signature and does not provide for a guarantee signature. The third provides for payment through the current account, a guarantee signature can be requested and also includes a guarantee on the property.
How are loans to consolidate with the sale of the fifth?
The products Cession of the Fifth of the Salary or Cession of the Fifth of the Pension can and very often are used just to consolidate as it can succeed, obviously based on the parameters of evaluation, to arrive even up to 75,000 USD.
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