Click to learn more for debt and consolidation
Debt consolidation loans on https://dedebt.com/ site were created especially for people who have problems with repayment of one or more other liabilities – regardless of whether they are payday loans, credit cards or other banking products.
Excessive debt is a problem known to many of our countrymen, and people who do not pay debts must reckon with receiving requests for payment, visits by debt collectors and, in extreme cases, with a court bailiff. Unfortunately, however, it often happens that when we try to consolidate our liabilities, wanting to facilitate – and often simply allow – their repayment, our credit history is already negative. In this situation, banks will usually not want to help us, because most of them apply quite restrictive rules for granting this type of financing.
However, we can still turn to non-bank institutions, whose requirements are not so drastic – many of them grant consolidation loans without a mortgage, helping to get out of the financial deadlock. The mechanism of consolidation is simple:
- In the beginning, a para bank employee sums up all our liabilities based on the loan agreements and repayment schedules we provide.
- All these obligations will be repaid by this company
- The resulting amount is our new loan – a consolidation loan for those in debt. From now on we will repay only one reduced installment
- This amount is divided by the number of months we need to settle the loan. The longer the repayment period, the lower the individual installment
In the case of customers with better creditworthiness and financial standing, it may also be possible to draw additional money for any other expenses. In the case of a positive credit decision, this amount is added to the total amount of debt consolidation loan, and the funds go to our account or in our hands in cash. However, it should be remembered that this will not be possible for each borrower.
Credit collateral – is it always needed?
Therefore, we already know what a consolidation loan for indebted is – and that we have a much better chance of obtaining it in non-bank institutions and para banks. Among the documents that we will need are mainly:
- photo ID (i.e. ID card, passport or driving license – these requirements may vary depending on the company where you will apply for the loan)
- loan agreements and repayment schedule that we want to consolidate
- certificate or statement of our earnings – in the first case they may be:
– a special document issued by our employer,
– pension or retirement pension slip
– copies of civil-legal contracts we have concluded (mandate contracts and contracts for specific work)
– certification of obtaining income from rent, lease or cultivation
– alimony, social allowances (including 500+), scholarships
– tax declaration for the previous year
It all depends on the rules used by the individual companies granting us the loan – in some cases, only an income statement will be required, i.e. our statement of earnings. By signing it, we confirm that the data contained in such a document are true.
There remains the issue of collateral for this type of loan.
In such a situation, traditional banks usually demand a surety in the form of a mortgage – if we have unencumbered property, it can constitute collateral. However, many customers do not own such property. Therefore, many non-bank institutions offer a consolidation loan without a mortgage, the granting of which is based on the principles described above. The crux of this solution is the fact that no one requires us to own an apartment, house or other premises that could provide security for our new loan. Many types of non-bank loans have this type of offer, of course, they may differ in the maximum amount of the loan or repayment period. It should also be added that a consolidation loan without a mortgage may be a more expensive solution than if we had another loan collateral.