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To take advantage of debt consolidation, a client must find an agreement with a financial institution, so try De Debt for free.
There are three ways to start debt consolidation:
- personal loan;
- mortgage for consolidation;
- employee loans.
The personal loan is the riskiest for the bank that wants to grant it because it lacks real guarantees and also the most expensive in terms of interest payable by the debtor. It is very difficult for it to be disbursed unless the bank knows the customer personally.
The consolidation loan represents an important guarantee for the bank: a mortgage on the building. This allows the customer to receive higher amounts of a personal loan at a much more advantageous interest rate. The ideal condition for accessing this typology is the possession of a property without any form of a mortgage.
The third type is the assignment of the fifth. It is the ideal product for debt consolidation because it can be provided even in the presence of reports. The salary assignment is easily acquired by public employees and pensioners; it is slightly more difficult for private employees because they require a substantial amount of time and a medium or large company.
The road to consolidation is often difficult to pass through for three reasons:
- the risk policies of an institution, at the discretion of the institution itself;
- the income level. The higher the income, the greater the possibility that an institution will provide a debt consolidation loan. Even with a high income, what matters is that it does not have a very large monthly installment exposure. The difference is, therefore, that part of the salary not committed in the individual installments;
- the creditworthiness of the customer. Each institution can check the credit history of each individual debtor in the databases and in the Central Risk Officer of the Bank in Italy. If there are no reports, it will be easier for the customer to access the loan for consolidation.
The debt consolidation loan is currently one of the most requested financial products. It is difficult to get it but it is not impossible. Each of the three types must evaluate the one closest to their needs.