Consolidated credit is a great tool for managing personal finances as long as it is well used. Being a financial instrument it is natural that there are some questions and frequent questions. Here are the most frequently asked questions for you to make your informed decision.
Does Consolidated Credit Only Pay Off Debts?
When you apply for a consolidated loan, you can ask for additional liquidity for what you need. This way, you can not only settle your credits and get a lower installment but also get some extra cash.
To Treat Consolidated Credit Should I Do It Next to My Bank?
It is possible that your bank approves a consolidated credit application. However, this possibility is not a guarantee and much less synonymous with having the best market conditions. Creditors works with several partners in the market, which allows us to increase speed and efficiency throughout the process. For example, it is possible to present several proposals that may be more appropriate to your specific case (better rate, more flexible term, among others).
Does the Bank Require a Surety?
Banks want guarantees for the proper performance of credit agreements. However, this need for collateral does not necessarily come from a guarantor. A good financial advisor will structure your request to increase the likelihood of approval of your credit and the lower interest rate.
If I Want A Consolidated Loan Do I Have To Change Bank?
Several financial institutions grant you a consolidated credit without the obligation to open a current account there. So you can keep your current account and not lose the benefits you currently have with your bank (for example, the spread of your mortgage credit ).
If You Make a Consolidated Credit Can I Make Spot Repayments?
A consolidated credit is a credit like all others. That is, it will be possible to make partial repayments, totally or partially. Most banks do not charge commissions for early repayment.
Does My Order Analysis Have Costs?
Creditors does not charge for analysis or dossier . The client only has a cost if and when the money is financed, and the fees are included in the amount of the financing. In fact, if the consolidated credit proposal is not to your liking you can simply refuse it without any penalty or charge for you.
Is It Possible To Have Credit With The Name On The Black List Of Banco de Portugal?
If you have your name on the blacklist of the AXZ Bank you will not be able to access the credit. However, this does not mean that you can not see your benefits reduced through our innovative credit negotiation service.
Is Consolidated Credit Just Beneficial For Those Who Can not Bear Their Charges?
The alternative of consolidated credit is more advantageous for customers who are not yet in tight situations. The consolidation of credits allows you to lower your installments, which is always positive whether or not you are in a situation of financial suffocation.
Is Credit Consolidation Only For Those Who Have Many Credits?
Consolidated credit is a good solution whether you have 2-3 credits or have 7-8 or more credits. The savings will be all the greater the greater the number and the amount owed. However, it should be borne in mind that financial suffocation is not only the result of many credits (in fact, the main causes of excessive debt are divorce, unemployment and illness).