Wasag http://wasagaundersiege1812.com My WordPress Blog Thu, 28 Feb 2019 10:34:41 +0000 en-US hourly 1 https://wordpress.org/?v=5.0.4 A loan to pay off existing liabilities http://wasagaundersiege1812.com/2019/02/28/a-loan-to-pay-off-existing-liabilities/ http://wasagaundersiege1812.com/2019/02/28/a-loan-to-pay-off-existing-liabilities/#respond Thu, 28 Feb 2019 10:34:41 +0000 http://wasagaundersiege1812.com/2019/02/28/a-loan-to-pay-off-existing-liabilities/ Continue Reading]]>

A loan to pay off existing liabilities leads to significant savings with lower interest rates on the new loan. The precondition is that the borrower does not have to pay high prepayment interest for his current loan agreements.

At any time and always repayable are credit lines such as the discretionary credit, an available credit and the balance of a credit card. For consumer credit, early repayment is generally possible, but the credit bank may charge prepayment interest unless the credit agreement provides for special unscheduled repayments. For real estate loans, special repayments can be excluded during the first ten years of the contract.

Several banks offer special debt rescheduling loans with reduced interest rates compared to non-earmarked consumer credit. These are of course cheaper than a simple loan from the same bank. Whether they are also cheaper than the offers of other credit banks, shows a credit comparison. On the other hand, it does not make sense to accept the special loan to pay off the current liabilities without making comparisons with the conditions of other banks, which may be tempted by the interest reduction being raised.

Do all existing loans have to be replaced?

Whether borrowers need to consider all existing loans for a loan to pay off existing liabilities differs depending on the financial institution. Most banks refrain from including a possible real estate financing, especially as their early repayment was often excluded by contract. Often, debt holders may also refrain from taking out other preferential loans such as a car loan or an interest-free installment while integrating all other loans into the new contract. Few financial institutions give their clients the option of repaying only part of the non-discounted current loan on a loan to pay off existing debt.

Disposition loans, availability credits and debits of credit card accounts are not linked to any fixed repayment obligations. Not all banks require their involvement in a loan repayment. However, this is always advisable due to the high lending rates for flexible credit lines.

The course of a loan repayment

The new bank does not transfer the loan to replace the existing liabilities to the current account of the customer, but as far as possible directly offsets existing credit accounts. This approach prevents the borrower from using the new loan to repay existing borrowing, as indicated. Without this certainty, the credit bank would have to carry out its budgetary account with the rates of the new loan and the previous liabilities.

The direct replacement of the credit card account balance by the new lender is not always possible because individual issuers reject incoming payments by third parties. Furthermore, the portion of the repayment loan determined for the purpose of offsetting the current account and a possible increase in the bank account of the customer.

A small increase in credit is almost always associated with a loan to repay expensive old loans, as most financial institutions lend exclusively on flat 1000 euro amounts. Many borrowers associate debt rescheduling with an additional loan over the rounding amount.

Find the appropriate new loan

Find the appropriate new loan

Before applying for a loan to pay off their existing debt, applicants check whether they are actually making significant savings. In a few cases, borrowers replace an existing loan, not for cost reasons, but because of a desired reduction in the monthly loan installment by extending the term. This makes sense if the previous credit bank rejects the desired change in the repayment plan.

The replacement of existing loans serves to save interest costs. If the credit rating of the lender has deteriorated after the conclusion of the existing credit agreements, a rescheduling is economically not usually useful. A loan without private credit or – which is possible with some domestic banks with a soft negative feature – despite a private credit negative feature is usually associated with a higher interest rate than the old loan and therefore advisable only in those cases in which the applicant on a mandatory Loan is instructed. This is not the case with a loan repayment, as the lenders are allowed to cancel installment loans only in case of improper repayment. Any necessary credit increase in this case is most likely possible through an organized personal loan.

In a savings calculation, the borrower checks whether the future interest savings are higher than the prepayment penalties to be paid. The prepayment interest payable on early loan repayment is the easiest and most reliable way for bank customers to obtain it from the bank.

The loan for replacing existing loans is ideally not only cheaper than the previous loan, but also associated with a flexible repayment. The right to premature special repayments allows a new loan repayment if interest rates continue to fall during the term. The possibility of an annual or biennial installment break or the contractually agreed right to amortize the loan at the request of the creditor makes it easier to meet the repayment obligations in the absence of income or additional expenses. The ideal loan for repaying existing liabilities combines a low effective annual interest rate with extensive loan repayment flexibility.

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Consolidation Debts: loans and mortgage, how to apply http://wasagaundersiege1812.com/2019/02/22/consolidation-debts-loans-and-mortgage-how-to-apply/ http://wasagaundersiege1812.com/2019/02/22/consolidation-debts-loans-and-mortgage-how-to-apply/#respond Fri, 22 Feb 2019 15:57:17 +0000 http://wasagaundersiege1812.com/2019/02/22/consolidation-debts-loans-and-mortgage-how-to-apply/ Continue Reading]]>

 

 The debt consolidation loan is one of the financing options that Astrofinance reserves to its customers. This is certainly an excellent opportunity, for this reason in this article we will analyze the characteristics of this product, to see to whom it is addressed and why it may be useful to choose it. Finally, how to request a free estimate for this form of loan, to find out the treatment that will be reserved to us by the company.

Debt consolidation loan: what it is for and to whom it is addressed

Debt consolidation loan: what it is for and to whom it is addressed

 

 

If you are interested in receiving any form of financing, from Astrofinance you will most likely find the right product for you. In the wide range of personal loans Astrofinance, where we find excellent opportunities for example for the purchase of a car, a motorbike or a camper, but also to renovate the house, buy furniture or appliances and anything else, we also find the so-called debt consolidation. What is it? The consolidation of Astrofinance’s debts is a form of financing aimed at those who have contracted debts with different companies, for example for the purchase of goods or services of various types, and therefore find themselves having to pay the repayment installments to different recipients.. First of all this involves a problem of a practical nature, as each installment will have a different monthly expiration, and therefore every month we must remember the payment of all installments on the days defined by the contract. By choosing the debt consolidation of Astrofinance, all our debts with the banks will be precisely “consolidated”, ie unified into a single debt with a single bank, which will be just Astrofinance.

The first advantage will therefore be of a practical nature, given that every month we will have only one expiry date to remember and only one installment to pay. Moreover, given that very often the characteristics of the various loans in progress are quite different, choosing the consolidation of debts for the sum of money that we will have to repay, very often the monthly payment we will pay will be less than the sum of the previous installments of refund. This is because the applied interest rate is usually particularly advantageous compared to other loans on the market. Furthermore with Astrofinance debt consolidation the client has the option to redefine the repayment plan. This means that if you want to complete the repayment with greater serenity you can extend the duration of the loan compared to the number of months that you are missing from the total repayment of the various debts incurred. In this way, the amount that you will have to pay monthly in Astrofinance’s coffers will be lower than what you would pay without debt consolidation.

As we have said, the consolidation of Astrofinance’s debts is in effect a personal loan, thus inheriting the main features from this category of loans. The sum of money that can be requested will in fact be between € 1,000 and € 60,000. Unlike traditional loans, in this case the amount requested by the customer will not be paid into his current account. As we have already said, this amount will be necessary to make the repayments of the old loans received. For this reason, at the time of the request it is necessary to present the documentation related to the loans that are being repaid, in which the residual debt is specified. Once our request for debt consolidation will be accepted by the company, then Astrofinance will pay the amounts relating to the remaining debts to the various banks and financial institutions in which we have requested one or more loans in the past. The amount that can be requested through the consolidation of debts may therefore be equal to the sum of the residual debts with the various banks, but this does not necessarily have to be the case. In the event that in addition to having to complete repayments for past personal loans you are looking for a new loan, with Astrofinance debt consolidation you have the opportunity to receive new liquidity. As for the latter part of the amount that we are going to receive, the disbursement takes place directly on the current account in the name of the applicant, without the latter changing his bank.

The Astrofinance debt consolidation is aimed at all those who are resident in Italy and are aged between 18 and 75 years. As with any form of financing, it is also necessary to present adequate financial guarantees to the company. As specified on the Astrofinance website, only those who have a demonstrable income can apply for a loan application. We are talking about employees, who will have to present the last paycheck, or former retired employees, who will have access to Astrofinance debt consolidation through the presentation of the last pension slip, but also of self-employed workers, who will have to present the last tax return. Finally, an essential requirement to allow the provision of any form of loan is that the customer holds a current account. It is important to underline how the bank with which you hold the current account does not matter, which may in fact also be different from Astrofinance.

How to apply for a debt consolidation quote

How to apply for a debt consolidation quote

 

 

If you have received funding from several banks, and now you find yourself paying two or more repayment installments each month, then the loan option that is right for you is that of Astrofinance’s debt consolidation. To know in detail the characteristics of this product, what you need to do is request a quote. The company also offers the possibility for non-customers to simulate a personal loan through the Astrofinance website. In this way you will have the opportunity to know immediately the conditions of the financing that will be offered by the company. This is a completely free service and for which no registration is necessary, just as it is not necessary to enter personal data.

All that will be required to know the main features of the financing that will be offered to us, that is the installment that we will pay every month and the interest rates applied Tan and Taeg, will be the purpose of the loan and the amount of money we have need. Regarding the first item, we will have to choose from our drop down menu our requirement. As we have already said the consolidation of debts Astrofinance is a personal loan in all respects, and for this reason it is a non-finalized loan. There will be no restrictions on the project to be implemented, but some features of the loan such as the duration that we can choose and therefore the monthly installments provided may change slightly depending on the purpose that we will choose.

After specifying the amount we need, clicking on ” Calculate the loan ” we will present the best proposals of Astrofinance. The financing options that will be calculated by the loan simulator will differ for the duration of the repayment plan. Thanks to the ability to immediately compare all the possible solutions for the amount of money we need, we can identify at a glance the most convenient solution based on what our needs are. In particular, it is important to observe the expected monthly repayment installment, which should not be too high to avoid repayment problems in the future. At the same time increasing the duration too much, the risk is that of being faced with too high a cost for the interests.

To know in detail the conditions for the consolidation of Astrofinance debts, it is useful to look at some examples. Simulating a request of 30,000 euros for the realization of “Various Projects”, the lowest installment is the one relating to the loan with a duration of 84 months. In this case the monthly payment will be 463.20 euros, with a fixed Tan of 7.70% and a fixed Taeg of 7.98%. In the event that the total amount you want to apply with Astrofinance debt consolidation is equal to 50,000 euros, then obviously the expense you will have to face each month will be higher. Also in this case the maximum duration that can be set is equal to 84 months. The monthly repayment installments will be € 771.90, while the interest rates applied by Astrofinance will be a 7.70% Tan and a 7.97% Taeg.

 

 

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