If you have several open loans and want to pay off all debts in order to keep a single open loan, the best thing you can do is bet on reunifying debts. Thanks to this system, you will not only be able to unify all debts in a single line of credit, but you will also be able to enjoy many other benefits.
Steps to request a loan to pay debts
To start, you have to make numbers and be clear how much money we will need to pay all our debts and be able to close open loans. Keep in mind that not only will you have to pay the outstanding amount, but you will have to pay possible fees and interest for open loan cancellation.
When we are clear about the amount we need to reunify debts, it will be time to compare between different lines of credit to pay debts. There are many options to choose from, so we can surely find the alternative we are looking for for our interests.
After the comparison, it will be time to read the conditions well to be sure that it is really what we need. It is important to read the credit conditions well to reunify my debts. Thus we avoid possible scares in the future.
Now is the time to request financing at the bank or company that interests us. We must bear in mind that the loan will have to be studied and after a reasonable time they will indicate if it has been granted or not.
If everything is on track, the money will be granted. Now you just have to use that money to cancel the loans you have open and thus get all the debts in a single loan, what we commonly call, reunify my debts.
What are the advantages of reunifying my debts?
The main advantage is that you will have all your debts in a credit to pay debts, that is, you will no longer have to worry about whether X credit has been paid this month or not. You will already have everything in one place, so you will take away many headaches.
Another benefit you will get is that if you get good credit, the interest to be paid will be cheaper.
In turn, as you have reunited the debts you will get the monthly installment to be paid cheaper than the set of loans. The advantage of this type of loans is that you can get the monthly installment that best suits your economic situation. Of course, you have to be clear that if you extend the life of the loan to get to pay a lower monthly fee, what you will do is extend the life of the loan. That is, in the medium and long you will pay more interest, but the family economy will thank you.