Consolidation of cash loans is a good solution in a situation where the sum of loan installments paid is too heavy a burden for home finances.

On the website you can read the proposals of banks in which we will consolidate debt. The “combination” of loans includes not only cash loans. The decisive advantage of consolidation is the reduction of the loan installment and the possibility of regaining financial liquidity.

Consolidation of cash loans is not everything. It allows you to combine many loans and credits into one loan. For example, instead of paying off a few loan installments resulting from a cash loan, installment loan and debt on your account, you can combine all of these liabilities into one loan and pay a smaller installment.

If you do not consolidate loans, then…

If you do not consolidate loans, then...

How do banks enforce the terms of the contract? What do they do when we do not repay the loan on time? At the beginning, according to the provisions in the contract, the bank usually sends text messages, calls, sends prompts or visits an unreliable borrower. Such calls by the bank are obviously an additional cost for the bank’s client. What if the borrower does not respond? The next step is banking debt collection, and in the end it is already a debt collector.

What to do when difficulties arise in regulating debt? One should act firstly quickly and decisively. And this is when we expect such difficulties to occur in the near future. It is necessary to inform the bank about it. Negotiations with the bank will allow us to find a temporary solution. Perhaps it will be possible to extend the loan period, which means smaller monthly installments, but at the same time the cost of credit (interest) increases.

Banks very often, even in credit offers, allow you to take advantage of “credit holidays”. This is based on suspending the repayment of the loan for a specified period. Such credit holidays can range from one month to even half a year, depending on the loan.

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