Bad credit debt consolidation -You need loans to help consolidate debt, we have it

” It will be yours for only 10,000 USD and you will only pay after 3 years ” and again ” From just $ 13,000: but I want to spend a lot more ?” These are just some of the advertising slogans that capture the attention of those who have passion and interest in buying the technological products of the moment, such as PCs, notebooks, i-pads, tablets, but also cutting-edge cars that promise luxury goods with installments starting from 50 USD – capital accessible to all – with customizable or even better repayable contract duration starting from a specific period of time.

The conditions and methods of these types of financing are particularly attractive and greatly influence purchases: many subjects find themselves with more than one loan in progress, constituting a sum of monthly installments that very often becomes difficult to sustain economically, considering the ever-increasing increase also the cost of living. The monthly remuneration becomes insufficient to support ordinary expenses and more monthly installments: debt consolidation, also called debt restructuring, becomes the possibility of enclosing all the installments in a new monthly installment, extinguishing the previous loans and opening a new one.

You need loans to help consolidate debt now, we have it

Debt consolidation at https://dedebt.com/ allows the payment of multiple loans in progress in a single monthly installment with a single deadline, but not only. This type of financing reduces the amount of the monthly installment so as to make it more sustainable. Debt consolidation, in fact, makes it possible to evaluate the monthly sum of all the loans in progress and defer the new loan with sustainable installments.

With debt consolidation it is possible to reduce the monthly payment and increase the amortization plan of the loan, in addition to requesting liquidity in the event of economic difficulties not only in the repayment of the installments but also in sustaining other expenses that occurred during the course of the loans signed: the installment amount is assessed and counted based on one’s own remuneration and the actual sustainability of the expenditure, expanding the installments over time with the increase in the amortization plan.

Observe, in this regard, the following table which simulates the different loans in progress that are paid off with the new debt consolidation loan: the monthly payment includes the previous sum of all the loans in progress, reduced on the basis of an extension on an amortization plan of longer duration. Debt consolidation, as we learn from the table below, is convenient when you want to re-order your financial and economic position: the reduction of the installments and the extension of the loan makes it possible to avoid incurring penalties, foreclosure of the asset or increases in the debt contract.

MONTHLY INSTALLMENT FINANCING IN PROGRESS DURATION OF THE CURRENT FINANCING RATE AND REMAINING AMOUNT TO BE PAID MONTHLY INSTALLMENT AMOUNT REMAINING AMOUNT TO BE REFINANCED WITH THE DEBT CONSOLIDATION
480 USD 10 MONTHS 5 MONTHS = 2,400 USD 780 USD
  • 7,900 USD RESIDUES;
  • REFUND PLAN HIGHER THAN 60 PREVIOUS MONTHS;
  • MONTHLY INSTALLMENT LESS THAN 780 USD PREVIOUS.
200 USD 60 MONTHS 10 MONTHS = 2.000 USD
100 USD 48 MONTHS 25 MONTHS = 2,500 USD

Debt consolidation: SIMULATIONS OF THE NEW FINANCING

Debt consolidation: SIMULATIONS OF THE NEW FINANCING

In the previous table it is clear that the sum of the monthly loan installments is high and difficult to sustain: 780 USD constitute more than 50% of a standard salary. With the debt consolidation it is possible to enclose the residual sum of the loan, equal to 7,900 USD, in a new payable capital, deferred with an amortization plan of a duration longer than the current one (the longest personal loan contract is 60 months) and reducing the amount of the installment, no more than 780 monthly, providing for a lower and sustainable amount.

To better understand it, observe the following table which is subject to examination of the ongoing loans and the related amortization plan with new amount of the monthly installment with a single repayment deadline, more sustainable according to one’s economic needs:

MONTHLY AMOUNTS AMOUNT FINANCING WITH DEBT CONSOLIDATION TOTAL AMOUNT TO BE REFUNDED WITH DEBT CONSOLIDATION
  • 100 USD X 12 MONTHS;
  • 250 USD X 18 MONTHS;
  • 300 USD X 48 MONTHS.
15,000 USD TO BE REFINANCED WITH THE DEBT CONSOLIDATION.
  • 15,000 USD RESIDUAL FINANCED CAPITAL;
  • DEPRECIATION PLAN HIGHER THAN 60 MONTHS;
  • REDUCED MONTHLY RATE OF 250 USD.
650 USD MONTHLY RATE MONTHLY INSTALLMENT = 250 USD
REMAINING CREDIT = $ 15,000 DEPRECIATION PLAN OF 60 MONTHS = 60 RATE

Debt consolidation: EVALUATIONS

Debt consolidation: EVALUATIONS

Debt consolidation is a particular request for personal loan and as such must be assessed based on the conditions expressed in the contract, in the requirements and guarantees but above all in its convenience: the monthly payment must be really convenient, must be reduced and increase the amortization plan, which otherwise makes it impossible to reduce the amounts to be repaid.

The solution of debt consolidation is convenient when it is necessary to obtain a new loan by combining all the monthly installments of different loans in progress, extinguishing them and subscribing to a new, more sustainable loan for their economic needs. Extending the duration of the previous contract and reducing the monthly payment means having a greater chance of recovering from economic difficulties and not incurring the payment of surcharges or penalties in the event of total insolvency.

The request for debt consolidation opens a new loan with a new disbursement of capital that balances the residual sum to be repaid with the previous loans in progress. Following the balance of all previous loans, the new personal loan, or debt consolidation, begins to be paid, but through a single monthly installment and a single maturity. For this reason, in choosing this type of financing it is good to evaluate the interest rate applied to this new loan, a fundamental factor in defining the new amount of the monthly installment.

ATTENTION: To evaluate the convenience of the new loan with debt consolidation it is necessary to check the percentage of the TAN and the APR :

  • the TAN calculates the percentage of interest due to the provider of the new loan without a preliminary investigation fee;
  • The APR is the total cost of debt consolidation. Observe this information before choosing your loan offer. For more information on these two important factors, it is advisable to consult a detailed article on how to choose the TAN and the APR in a personal loan or in the assignment of the fifth.
NEW FINANCING WITH DEBT CONSOLIDATION MONTHLY INSTALLMENT AND DEPRECIATION PLAN PREVIOUS FINANCING
5,000 USD 100 USD ABOUT X 48 MONTHS 250 USD ABOUT X 24 MONTHS
10,800 USD 300 USD X 36 MONTHS 450 USD X 24 MONTHS
20,000 USD 415 USD ABOUT X 48 MONTHS 550 USD ABOUT X 36 MONTHS

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