Cash loans are tempting. That is why we take several or even a dozen or so. It turns out after a few months that we pay a lot for interest alone. As you know, a loan is a borrowed amount plus an interest rate which is currently around 15%. In this situation, a dozen or so loans can definitely burden our portfolio.
That is why it is worth thinking carefully. In this article, we will introduce two solutions for people with more than four credits. Expensive cash loans, the more you should think carefully. It is known that each credited PLN 100 costs around PLN 15. How much can we save? Quite a lot, if we decide on the right tools and help. Banks help not only to borrow money, but also to deal with the debts we currently have. Let’s see what we can give ourselves as part of reducing credit costs now.
Consolidation in the first place.
Cash consolidation loans are a great offer for anyone with more than two loans. With two it is not always worth the candle, but you can also try. What is it actually about? Loan consolidation is nothing more than a combination of them into one with one interest rate, definitely lower than what we are forced to pay at the moment.
Going to the bank for this purpose, we must prepare all documents regarding loans that we want to consolidate. Then we go to the bank and we can act. An important detail is that all installments are paid on a regular basis. Otherwise, it will be an impossible or complicated process.
Banks counts all credit installments and interest rates and offers us a definitely lower, cheaper solution. What the bank will expect from us is our creditworthiness, i.e. no negative BIK history and adequate earnings. Loans are not consolidated – these are non-bank products.
Paying back and putting away.
The cash loan can be returned up to 14 days after it is taken, although it depends on the bank and its exact regulations – we will find such provisions in the loan agreement.
Therefore, if after a few days we find that the loan was taken lightly, we can refund it as much as possible. The next task is to pay off the entire loan if there is little to pay back. Remember, however, that installments are shortened from the back. Therefore, we must pay all installments on a regular basis.
As we can see, we can deal with many loans very quickly. Let’s ask the bank for all available options.