We have often heard the saying that we replace our old loans with more favorable ones. Only many people are not aware of what loans can be redeemed and when. If you have an expensive credit card or personal loan and would like to save money, this article is for you.
There was quite a desire to borrow
Unfortunately, this has not always been accompanied by financial awareness and responsibility. Many took out a personal loan, applied for an overdraft, and even had a credit card, for which they had forgotten (or were unable) to replenish the credit line on time. At best, they were only forgetfulness, lightheartedness, but they were still charged high penalties. All of this led to a debt spiral within a short period of time, and getting out of it is a difficult task.
Unfortunately, few people realize that it is not only home loans that can be used for redemption, but there are also solutions to unsecured loans that can cure the problem of debt owed to us. The solution is a debt settlement loan, which means that the bank will “bundle” several existing loans. If we have more than one loan or credit line, the bank will merge them with us. his treatment.
In order to determine the terms of such loans, the bank makes special calculations as to who can get such a loan and how much the monthly installment will decrease. A debt settlement loan can help any troubled borrower to either streamline their monthly repayments or get rid of any debt spiral. In our Loan Comparison Calculator we looked at the terms under which we can obtain $ 1,000,000 over a 5-year term to settle our unsecured debt.
Fair offer from Fairshare Bank
The Fairshare Bank Fair Debt Relief Loan is a substitute for all types of loans except mortgages. For example, to replace a personal loan, a credit card, an overdraft, a car loan, a merchandise loan, or even a student loan. This loan is also available to average income clients, as the 3% discount is only conditional on the bank receiving at least $ 68,000 in monthly net income.
It is also worth knowing about this loan that besides debt settlement, you can apply for a freely available amount. It is a condition that at least one of the loans must be in place for 12 months and the remainder in 6 months. The $ 1 million loan in our example is for 60 months with a $ 21,242 installment and will be fixed throughout. We have to pay back a total of HUF 1,281,527 with a APR of 10.95%.
You can get a gift when registering online
In addition to debt settlement, Citibank Personal Loan can also apply for a freely available amount of debt. When registering on the bank’s website, a Media Markt gift card will be given as a gift , the value of which depends on the amount of credit. For the one million forints loan in our example, the gift value is $ 20,000.
The income condition for single claimants is HUF 125,000 per month net. The repayment installment is also fixed for this loan for a period of 60 months, ie HUF 25,388. The total repayment amount is HUF 1,523,279, the APR is 19.55%.
The Readyhand Debt Settlement Loan is still a fixed installment throughout this year . Thus, in case of taking out a loan of HUF 1 million, the installment will be HUF 26,773 for 60 months. The total repayment amount is HUF 1,616,371 and the APR is 23.12%.