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Bank consolidations are a product known on the market for many years. Financial products offered by banks are of a different nature than those proposed by non-bank institutions. Banks have more access to money and may have larger amounts at their disposal. Banks trade their clients’ money, and they can often count on state aid as history shows. Hence, the offer may be created differently. Non-bank institutions usually have their own money and supply products such as loans from their own resources. The risk is much more focused on a specific, private pocket, hence the offer must be more insurance.
The bank consolidation loan is assumed to meet the following objectives: reduce the installment amount and reduce installments to one.
It is connected with the extension of the whole loan repayment period and also with the increase of the total debt value. To be able to take advantage of bank consolidation, you must have a positive history in Bank Credit Information (a popular BIK) and meet the conditions determining creditworthiness. This is primarily an income criterion.
A lot of people pay back more than one loan. There is no shortage of opportunities to take advantage of this most popular financial product, easy availability, promotions and many promotions on the consumer goods market. Loans are often treated as a way to make ends meet, which very often leads to repayment of one liability to the next. A financial spiral is created from which it is difficult to get out. The burdens are increasing and the number of installments to remember must be increased. A consolidation loan simplifies the whole situation, closes all liabilities in one, and generally allows you to control an uncomfortable situation. What is creditworthiness
It is difficult to find consolidations offered by non-bank institutions. They do not offer consolidation of loans that are parabanks or bank loans. There is, however, the option of installment loans, which can ultimately perform a consolidation function. However, it is very important when choosing non-bank loans to carefully study the offers so that the cost of repayment is not too heavy for the household budget. The more so that the loans offered by non-bank institutions are more accessible and easier to use.