February 13, 2019 Philip Jones 0Comment

The consolidation of debts is a service that brings together all the loans that a person has contracted in one, usually to a longer term. Thus, through the reunification of debts is achieved, at the expense of extending the time we will have to amortize the credit, significantly reduce the monthly fee, which facilitates the day today.

The reunification of debts alleviates many families who see their economic situation increasingly complicated. Every day it becomes more complicated to make ends meet. The rise in interest rates and the crisis situation that exists in Spain means that many Spanish families live more in debt than before. They are the great beneficiaries of the reunification of debts and those who most concur to this service.

The reunification of debts to pay monthly the letter of the car, the mortgage, electricity bills, telephone and credit contracted to, for example, reform the bathroom, is a great relief of the weight borne by many citizens. This new reality is compounded by the change in consumption habits experienced in recent years, which has caused the mountain of expenses to grow as time goes by, and many companies have begun to benefit from the situation by offering debt reunification., a service that apparently has advantages for consumers.

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The reunification of debts offered by some companies and few banks or savings banks consists of grouping all the credits accumulated by the same person in a single mortgage type, with which the debt becomes unique. The consequence of the reunification of debts and this grouping is that the monthly payment is considerably reduced. It is possible that personal loans with interest of up to 8%, or quick loans of 20% will be grouped into a single loan whose interest is 4%. However, with the reunification of debts the debt is prolonged much more in time, that is, the debts that were previously short-term become long-term. With the reunification of debts the monthly payment is reduced considerably, but it is prolonged over time.

Anyone can request a reunification of debts. The only requirement is to have a real estate property, although on this one weighs a mortgage. Among those who offer this product of the reunification of debts it is possible to find some banks and savings banks that do it in a timely manner, but in most cases they are private companies. Having a greater liquidity is the most important advantage of the reunification of debts. By decreasing the monthly fee, the consumer has more money to spend per month. An added advantage in the case of private companies is that they offer the possibility of reunification of debts even if the applicant is delinquent, a fact that is not given when the applicant is a bank or a cashier, and the consumer has more time to get the money you need.