Mortgage or loan debt consolidation with the bank.On February 4, 2020 by Joseph Lamas
Having the pulse of your debt exposure can be very complicated. Not surprisingly, very often it can happen that there is a need to pay off the previous loans to bring everything together in a single loan. This option offered by banks is called debt consolidation and allows, in fact, to extinguish previous loans contracted with banks or financial institutions in order to bring everything together in a single installment. The advantage can be linked to a greater sustainability of the installment that will be sustained overall, or to simplify the organization of payment deadlines, which are reduced to a single monthly outlay.
Today almost all banks provide this option, including Spin Lender, which has included its specialized product within the category of Instant Care Bank. Let’s take a closer look at how Spin Lender debt consolidation works.
The smart way to consolidate debt
Credit Express Compact is called Spin Lender’s solution to pay off previous loans and repay them through a single installment. In practice it is a loan for debt consolidation and liquidity that starts from 3,000 USD and reaches up to 50,000 USD and can be returned in a period of time between 36 and 120 months (up to 10 years, therefore) with rates which amount to around 10.40% of Tan and 11.86% of Taeg.
In this way, all the loans that the customer had possibly contracted with other banks are automatically incorporated and extinguished, and a practical solution is offered at good conditions, compared to those that offer competing, but not exceptional, banks.
What is needed to activate Spin Lender debt consolidation
To activate the Credit Express Compact loan from Spin Lender and therefore start the debt consolidation, just go to the nearest branch, bringing with you documents such as identity card, tax code and residence permit in the case of non-Italian citizens. We also need documentation on income: last paycheck for employees, pension slip for pensioners, single model for self-employed workers. To avoid making unnecessary files, it is advisable to contact the toll-free number or take advantage of the online booking system, so that you can choose the branch, and respecting the availability of free hours, also the time in which to have the appointment.
The personal and income documentation must be accompanied by that relating to previous loans contracted: the various loans from other banks demonstrated by the early repayment calculation, which is intended to replace or “consolidate”. It should be remembered, however, that if we were to ask for additional or very high amounts, the banking institution could demand increasing guarantees (for example, a guarantor, co-obligation, etc.).
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