What is a Consolidation Loan

Since the new loan is often redeemable over a longer term, the repayment on the secured loan is usually significantly lower than the total of all redemptions on the smaller loan.

Prudence should be exercised when examining a consolidation loan. The consolidation of your current debt into a smaller redemption is often promoted as all that is needed to put an end to the stress-related claims of complaining lenders. However, the consolidation of current loan approvals should not be seen as a panacea.

Consolidation of debt may be right for you if you want to pay high interest costs on your current debt and move to a lower cost option if you need to scale back your projected future spending, perhaps because of a decrease in your earnings. Alternately, if you need to free unlimited funds to fulfill unanticipated obligations, it can free unlimited funds from your home while making sure that your total amount of your home's capital refunds does not rise.

If you have already had your liabilities reconsolidated several time in the past, if this consolidation loan contains liabilities still owed from earlier consolidation, or if you want to move liabilities from your loan and customer card so that you can use these card again, a consolidation loan is NOT the right one.

When you are faced with debts, you can get free, unbiased counselling from our Schuldenberatungszentrum. F: Are consolidation credits poor?

Prices may vary depending on your conditions and loan amount and may differ from the representative annual percentage rate of charge.

Prices may vary depending on your conditions and loan amount and may differ from the representative annual percentage rate of charge. Raising new debts is an important choice. Interest paid will vary depending on your circumstance and the amount of the loan and may differ from the representative annual percentage rate of charge. At no time will we ever quote you an interest that exceeds 29.9% p.a. (fixed), regardless of the amount of the loan.

Review the balance due, the interest rate you are currently charged, and whether there are any fines for early payment of the debts. Your solvency is not affected by our personalized loan offer. There is only a short-term notice left on your loan history that only you can see: not us, no other creditors, just you. on your credibility when you use the utility.