Repayment of payday loans and loans with a bank loanOn January 5, 2020 by Ana Funchess
Nowadays, we are increasingly reaching for payday loans, because they can be simpler and faster to obtain than a regular bank loan. Will repayment of payday loans be possible? The procedure for applying for payday loans is simple. Therefore, we get it online without leaving home. Of course, on income statements. At the bank, for larger amounts, you must document your income with a certificate of employment and income or income from your employer. Wait for the final decision. Increasingly, we see ads that the first payday loan is completely free, eg for 30 days “you borrow and give back the same”. Of course, it is different in life and payday loans sometimes the last resort in our household. There comes a time when you have to pay back the borrowed amounts and they start to worry. Installations to be paid are several times higher than our income. You can fall into the payday loans loop very quickly, we take the next payday payday to pay off the first payday and the wheel meshes. Each subsequent one is more expensive, has a high interest rate, commission, and the amount to be donated increases.
Who can benefit from consolidation of payday loans?
In fact, all banks see non-bank loans, so we really can’t hide anything. After submitting a loan request, all bank and non-bank loans will be visible in credit bureau. Consolidation of payday loans is possible, but not everyone will receive it. Banks consolidate payday loans, but certain conditions must be met to be able to take advantage of consolidation. We must have a positive credit history. In addition, the creditworthiness, which includes the amount of our income, expenses, living costs in the household, or the current burden in credit bureau. Is it a permanent employment contract, a fixed-term contract or a mandate contract, a contract for specific work, an old age or disability pension, a business. The easiest way to get income consolidation from an indefinite employment contract or retirement. As you can see, The consolidation of loans from the non-banking sector depends on several factors that are imposed by the Banks. Installments and debt costs will be lower than the current ones, moreover, our score will be higher in credit bureau. Most of the Banks charge from non-bank loan installments partly to creditworthiness. Thanks to this, most clients can afford to consolidate their non-banking obligations.
What is the consolidation of payday loans and non-bank loans?
To clarify, consolidation of payday loans and loans is the repayment of all parabanks, so we have a bank loan with one installment. In addition, we must provide account numbers and contracts for consolidation. Then, on our behalf, the Bank transfers visible amounts in credit bureau to non-bank liabilities. After a week after signing the loan agreement, it is best to call non-banking companies and make sure that your commitments have been closed. Of course, it may turn out that the amount visible in credit bureau will differ from the current total amount to be repaid on the day of consolidated liabilities. An overpayment or underpayment of the liability may result, in which case the resulting differences should be explained and only then the liability will be completely closed. Thanks to the consolidation of payday loans,
If you are in a difficult financial situation and need consolidation of obligations, please contact us, we will do our best to help you.