How many payments should you make each month? Are you worried about having to pay so many monthly payments? How about the idea of grouping loans into one? Yes, as you read, grouping several loans into a single debt is possible.
Grouping loans allows to reunify all the debts that a person has with several entities in one. Do you think that doing this financial operation might interest you? Undoubtedly yes. Why? Because not only would it take away worries and facilitate the family economy, it will also allow you to reach the end of the month much more relaxed.
Why can it be a good idea to group loans?
Think about all the debts you must pay monthly . And also think about the different entities to which you must make these monthly payments. Wouldn’t it be more convenient to group all your debts into one and pay a single fee each month?
If you are a company, grouping credits will give you more freedom when facing new purchases, because the sum of the payment of that new purchase to your business expenses will not have the same impact as adding another fee to the already extensive list of fees Monthly you have. While if it is a question of reunifying personal loans , you will think about how to deal with so many payments, to worry only about a single installment, which will include from the mortgage, to that fast loan that you are about to pay off.
What does the reunification of loan installments really consist of?
When we explain to a client that there is the possibility of grouping debts to reduce them to one , after the initial astonishment, he quickly asks where the ‘trick’ is, so to speak. But the so-called loan reunification is only what its own name indicates, that is, the grouping of all debts of a person or company for payment in a single monthly installment.
The grouping of loans consists of reunifying all the loans , credits and even mortgages that a person or company has contracted with different entities to make the payment in a single monthly installment to a single entity. And from this definition we could obtain the first advantage of this financial operation: to go from having a debt with several entities to having it with a single debt that encompasses them all.
Reasons to reunify debts
The grouping of loans provides comfort, but many people and companies do not consider this to be a sufficient reason to make the operation of reunifying their debts. However, the vast majority change their minds knowing the great advantage of the reunification of loan installments .
Thanks to the reunification of debts , the debtor will pay a single monthly installment that will cover all his debts, but whose amount will be less than the sum of the different installments that he had to face before the reunification of loans . And this is a great advantage.
In this way, the main reason that pushes debtors to request the reunification of debts is the reduction of the monthly expenses destined to the payment of all their debts. And all this without having to stop paying any loan, but by renegotiating its conditions.
The grouping of loans allows to reunify the installments and also the conditions of different debts . Even if these debts have been contracted with different entities. If you group all your debts into a single installment, you will only have one loan, with unique conditions and with a single monthly installment.
Once the debt reunification is defined, you are probably wondering how this new single debt will be settled if the fee to be paid is less than the sum of the previous installments. Is that so? It is very simple, the debt will be paid by increasing the repayment term . This may be an inconvenience for those people or companies with few debts incurred, but for those who have to deal with numerous loans, including mortgage, the reunification of debts compensates and much.
How is the grouping of credits carried out?
Once the debtor decides, where do you think he should go to perform this financial operation? There are specialized consultancies known as mediators or negotiating agencies , which will be responsible for conducting a thorough analysis of the client’s financial situation. This detailed analysis will be essential to establish that strategy that can maximize the client’s options for obtaining debt reunification .
These mediators will be responsible for renegotiating the new payment terms with each of the entities with which a debt is incurred, renegotiating both the interest rate and the repayment term . And once the approval of each of the entities is obtained, the initial loans will be immediately canceled to give rise to a single loan with a single monthly payment.
Why is it not advisable to go to a bank to perform this financial operation?
There are those who choose to make the reunification of debts with that entity with which they have contracted the mortgage, and it would not be a bad option. However, a banking entity would not allow you to group loans that you have requested from other entities, but only those debts contracted with that entity.
From Pardillo Consultants we are dedicated to the reunification of personal loans and the reunification of loans contracted by companies. We offer customized solutions to the economic problems of our clients by renegotiating the payment conditions of their debts with different entities. If you want us to analyze your case, you can contact us without obligation.