You probably remember when we tell you how to reunify your debts with a loan. But … what if the loan is personal?
Debt reunification consists of joining all debts into a single entity, in exchange for lowering the monthly loan installment. So it is an interesting option for those who have several debts at the same time.
Reunify debts with a personal payday loan
Individuals who find themselves struggling to pay their debts or who directly prefer to join them into one with the objective of paying less, can only by means of debt reunification. Of course, in many cases it may involve longer repayment periods or higher interests, so it is very important to negotiate the conditions with the entity.
But if what interests you as a customer is to be able to join your current debts into one to pay less each month, you are interested in knowing how to reunify debts with a personal payday loan.
In these cases, it is best to go to a fintech company like Good Finance to access the best possible personal payday loan. We have a loan simulator that will allow you to access the best personalized offer for you, so that you get the best possible conditions.
The key is to take a look at the conditions and interest that the bank offers to get the liquidity you need. And as we search, negotiate and compare between the top entities, we will offer you the personal payday loan that best suits you, so you can join all debts into one, with the same bank.
Is it worth it to reunify debts with a personal payday loan?
Normally, when a person is at the limit and has trouble paying off the debts of all the loans he has; Is the best option. Because in this way you can pay less each month, to deal with debts but without involving such a great effort impossible in many cases. That is why it is a possibility that can be contemplated.
However, in general it is only worth it when the monthly payments cannot be paid or if a lower price is negotiated (in total) when all debts are collected with the same bank or financial entity.
What is the difference between a personal payday loan and a loan?
We are facing a specific type of loan that is usually called a consumer loan. And it usually has a commercial purpose, be it a loan to buy a car, to go on vacation, for a wedding, etc.
It is a contract whereby the financial entity advances an amount of money to another person, being obligated to return it along with some interest and expenses derived from the hiring.
It can be interesting to collect all the debts that can be had with different providers. For example, a washing machine financed at X store, a car financed at X dealership, a computer financed at X chain, etc. In this case, the objective would be to take all of these debts and unite them into one through a personal payday loan.
It all depends on the conditions and the total to be paid. But if you want to feel more liberated and pay less for your consumer products in the month to month, even if that implies that the payment is extended longer, is what you need.
We invite you to use the loan simulator of Good Finance. Through this tool you can get a loan of up to 40,000 euros and with the best negotiated conditions exclusively for you, all without paperwork.