Today, virtually all of us are indebted to a financial institution. We often don’t have one loan or even several. We can get a loan more eagerly and easily, which is why we use such solutions in situations to finance a holiday trip, buy new home appliances or electronics, or buy Christmas presents for loved ones. As a result, it may turn out that several inconspicuous installments, in total, are quite a large sum, which is a burden on the household budget. Are there ways to reduce the amount and amount of monthly commitments? It turns out that yes! One of them is the consolidation of loans at the bank.

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What is consolidation and who can apply for it?

Bank loan consolidation is nothing more than a combination of all liabilities into one. Thanks to this solution we get one common installment, which is lower than the sum of all smaller ones together. The installment is one and lower, however, it is usually associated with the extension of the loan period. Debt consolidation via DeDebt is an ideal method for people who have trouble remembering their payment dates, as well as for those who, due to the number of installments, are difficult to pay.

What conditions must be met to obtain a consolidation loan?

What conditions must be met to obtain a consolidation loan?

In fact, we must meet the same conditions as for normal credit application. The bank will check our credit history in available databases, such as the Credit Information Bureau or the National Register of Debtors.

One of the most important issues when applying is credit assessment. If it is high, the bank may offer us, apart from paying all liabilities, additional cash. Why do we choose payday loans?

Documents needed to submit a consolidation application

To submit the consolidation loan application you will need documents confirming your income, i.e. in the case of a person employed on the basis of an employment contract – a statement of earnings, which should include information on income for the last three months. The bank may also require confirmation of the receipt of remuneration on the account. Fewer formalities and the faster procedure is when we apply for credit consolidation in a bank where we have our personal account with the inflow of remuneration. In the case of retired or disability pensioners, the last adjustment will be required plus confirmation of receipt of the invoice or money transfer slips. In any case, it is also necessary to take with you the loan agreements to be repaid. These contracts should include the number, invoice number, and schedule.

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