Consolidating debt with standard bank
Before you apply, we encourage you to carefully consider whether consolidating your existing debt is the right choice for you.Consolidating multiple debts means you’ll have a single monthly payment, but it may not reduce or pay your debt off sooner.Your company is highly recommended and I’ll definitely spread the word to other people who need assistance with their debt. ”Debt consolidation is the process whereby we consolidate all your debt which is owed to multiple credit providers into a single debt with a single monthly repayment at reduced interest rates.Instead of paying multiple credit providers, you now only have to make one reduced monthly repayment for all your debt.A debt consolidation loan is not very different from other types of loans you can get at your bank.When consolidating debt, you take out a single low-interest loan and use that money to pay off many small, high-interest loans, including personal loans and credit cards.Interest is the fee charged by the creditor to the debtor, generally calculated as a percentage of the principal sum per year known as an interest rate and generally paid periodically at intervals, such as monthly. Although there is variation from country to country and even in regions within country, consumer debt is primarily made up of home loans, credit card debt and car loans.
Your actual APR will be determined when a credit decision is made and may be higher than the rates shown.It can save you money in the long run and get you out of debt sooner. Debt consolidation can be an elegant solution to a messy debt problem.If you are the sort of person who forgets the due dates for your bills, a single loan could be easier for you to manage than many different bills.Below is an example of what our debt consolidation did for Rob & his family.Before contacting us, Rob was drowning in debt and consequently behind with some of his debt repayments.