Loan consolidation application: simple & secure
Combining several loans into one whole is a way that allows people with large financial problems to go straight – recovering liquidity is the beginning of the process of getting out of debt. Loan consolidation is a financial product.
Banks grant consolidation loans after a thorough examination of the applicant. In practice, this checking results in a negative decision that is unfavorable for the client. Parabanks do not have such stringent procedures and it is easier to get a new loan in them. However, the ease of obtaining debt consolidation goes hand in hand with the higher cost of credit. So before we decide on choosing a lender, it is worth conducting thorough research on the financial services market and checking how it describes the consolidation loan calculator, which is usually available to loan applicants who browse websites with loan offers.
What documents does the lender require?
Regardless of the type of financial institution, each applicant for a consolidation loan must prepare and submit the following documents:
- ID card,
- marriage certificate,
- employment and income certificate,
- all contracts, certificates and other documents confirming the fact of having a debt,
- documents confirming repayment of debt; certificates on the number of previous repayments and the last installment,
- bank statement showing account history for several months.
If the amount of the consolidation loan will be associated with the need for a mortgage, the complete set of documents should also include:
- property deeds,
- real estate appraisals
- land and mortgage register numbers (sometimes a bank requires excerpts, but these can now be checked in the online register of registers).
Consolidation loan and what next?
Consolidation gives you the opportunity to catch your breath from the fees beyond our capabilities and start a new chapter of life, at the end of which will be a stable financial situation of the family. Financial security can only be built through discipline and conscious life to the best of its abilities. Returning to old habits of taking quick payday loans or shopping in installments can end tragically. New liabilities in combination with a long-term consolidation loan may not be repayable.