Overburdened by debts and monthly deadlines, are you in danger of skipping some mortgage payments or other financial payments? Having more open credit lines also increases management fees and makes it more complicated to monitor the expenses and multiple interests that accrue in each active loan.

Last consumer credit trend: debt consolidation

Last consumer credit trend: debt consolidation

The proposals of the credit institutes were thus born to merge the various repayment installments of loans contracted with different banks and financial institutions into a more sustainable installment, for example for the purchase of a car, a home or to finance a trip., perhaps even obtaining additional liquidity. This is a trend that is expanding more and more among consumers. It is a matter of contracting a new loan with a bank or financial institution that accepts the disbursed loans, extinguishes them and converts them into a single mortgage secured by a mortgage on a property or a single loan (if only loans of consumer credit) guaranteed by the surety of a third person (for personal loans).

Financial solution for old loans

Financial solution for old loans

Like CreditExpress Compact, the financial solution proposed by Astro Finance to pay off all your loans, activated either at Astro Finance or at other banks or financiers, and activating a new one. The CreditExpress Compact consolidation loan is in fact a credit formula that allows to extinguish all the loans currently in progress and to light a single one on better terms. In this way the various debts are compacted and you can pay a single monthly payment, with a fixed, rounded amount: for example 100, 120 or 200 USD, and even get an additional liquidity (to be agreed with the bank) and have only one contact person, in this case the Astro Finance bank.

This financial product offers from 3 to 50 thousand USD repayable in a period ranging from a minimum of 36 to a maximum of 120 months. The interest rate and the amount of the installment remain fixed for the entire duration of the loan, thus facilitating the management of both the repayment and the budget as the monthly outlay remains constant over time.
Furthermore, the consolidation makes it possible to extinguish the refinancing at any time with full savings of the interest on the capital still due.

The requirements for access to debt consolidation vary from one company to another, but usually the inevitable elements are: a permanent employment contract; seniority of at least 12 or 24 months; the absence of protests, foreclosures or enrollment in the central credit registers.

“When the installments are added together, keeping track of deadlines and having enough money to make ends meet becomes more complicated. For this reason, it is possible to merge the various outstanding loans into one installment, extending the loan period and adding, if necessary, other liquidity is an advantage, “he explains  Marco Giorgi from bankate – O take a loan to consolidate debts is only possible to those who can prove to have some background from “good payer”, as it represents “a loan on the loan”.