Do you also pay back two or more loans at the same time? Then you are like many other consumers in Germany.
They also transfer credit installments to different banks month after month – and this multiple burdens can permanently overflow your head. Especially if the income remains the same, but the other costs rise.
No wonder many borrowers with multiple loan contracts are looking to improve their situation. In the case of the house bank, the advisor often shakes his head in such cases: “You have taken out the loans, and now you have to repay them” – customers have reported on this and similar “helpful” answers “of their” bank.
Unfortunately, the statements of the bankers go past the heart of the matter. Of course, the borrowers want to repay their financings – but different than before. With only one rate to a bank. And above all, with a lower monthly rate.
Payday Loan Consolidation: sum up loans now
The current low-interest rates offer optimal conditions for debt rescheduling and credit summaries. The remaining debt of the current contracts is added together and a new loan of the same amount is added. With the money, the old loans are paid off in one fell swoop, leaving only one loan.
It does not just change the account details for the transfer of installments – no, thanks to the currently very low-interest rates, the new loan can often be taken on much better terms. In combination with the optimal running time, monthly payments can be easily reduced by 50 Euro, 100 Euro or more.
This not only means 1,000 euros (and more) additional financial leeway per year, but also the bottom line, huge savings. Because the interest rates are lower, the new loan is overall “cheaper” – so you have to pay much less interest to the bank in absolute terms.
Do you have two or more current payday loans? Then ASSESSING YOUR DEBT SITUATION and with a free request, find out how to consolidate your payday loans and save money every month.