The Credit Consolidation
The credit consolidation is supposed to be at least equal to the sum of the remaining stock of old loans. However, it is necessary that the debt capacity of the client allows. These range from 35% to 50% of monthly income, according to the company funding and the level of wages.
Note that these new forms of debt consolidation are different mechanism of debt consolidation. Although the principle remains the same, that bring together the old loans into one with new conditions, consolidation is reserved for those with accumulated debts. In addition, a loan consolidation is only valid for consumer loans. While consolidation for all types of credit. It is possible, if for example you have a mortgage, a car loan and an overdraft with your bank to negotiate their amalgamation into one new loan category will be those whose debt the most dominant. The amount includes the capital outstanding, the unpaid balances owed, interest and penalties on late payments. (continue reading…)