Loan consolidation is an act of merging multiple loans into one. So if you have two financial credits, including a credit card and an overdraft facility, then you can merge all these types of loans into one to get one installment, a lower total overpaid amount, and a more general loan. What else should you know about loan consolidation?
What can I consolidate, ie merge?
Perhaps the most important issue of all is what can be consolidated. Not all loans and financial loans are suitable for consolidation. You can consolidate ordinary bank and non-bank loans, credit cards, or overdrafts with Mrs. Grundy. On the contrary, family loans or hire-purchase cannot be consolidated.
Benefits of consolidating payday loans
Why consolidate your loans into one? What will you get from it? Short-term payday loan consolidation brings many benefits. The most important ones are merging all of your loans into one and thus all the installments into one. You will no longer send two, three or more installments per month, but only one. It cannot happen that you have forgotten any installment.
In addition, the resulting new installment after the merger will be lower than if you had continued to repay all the loans separately. This will give you a larger financial reserve.
At the same time, your newly created loan will be much more profitable and will eventually overpay significantly less.
Consolidating loans in three steps
How to do it? Enter the Mrs. Grundy website, fill out the non-binding form here and take the rest. We approve applications completely free of charge. Many of you have already found out that even though they paid the fee in advance, they did not receive the loan and lost money. It is better to avoid such offers. You don’t really have to worry about having to pay anything in advance. Approval takes place on working days after submission of all documents by return.
Conditions for loan consolidation
Of course, you must meet certain conditions in order to approve your application. The basic ones are age over 18 and permanent residence in the Czech Republic. You must also have a demonstrable income (for employees after trial period) and you may not currently have overdue payments, be in execution or insolvency. If you do all this, we will approve your request and merge all of your loans into one. You then just set up one standing order with a new monthly payment.