A solution to improve your loans and reduce your money
The majority of Spanish consumers were forced to resort to a Literate The bank or any credit entity. Gain a house, Fix a ground or buy a car They are situations in which the inevitable borrowing is almost to deal with the cost of these goods and services.
There too Simple expensesSuch as buying the device or the need to postpone our expenses at the end of the month, where citizens are in it They withdraw credit cards or consumer loansIt is inevitable means paying interest.
either way , It is necessary to religiously comply with fixed payments Because otherwise our personal resources can be seriously affected. Is that when the debts accumulate gradually before our inability to confront them, what is called that “Snow ball effect”.
If we are transferred at a certain time of the payments that we must assume, the solution can be the so -called name Debt Funding.
“Debt financing is the process through which a person or entity Re -negotiation on the conditions of their current debts In order to obtain more favorable conditions. This means changing the conditions for paying current financial obligations, such as loans or credit cards. In addition, it usually includes expanding the payment period and reducing the amounts, which can provide immediate financial dilution, “explains. Consumer Bank SantanderThe company is specialized in financing consumption.
However, expert sources warn that the new agreement “It does not mean reducing debts” This is in the end the total payment will be greater. but, “It is better to re -fund debt as soon as there is a risk of incompatibility. To avoid taking debts Recovery companies.
From financial comparison HelpyCash They determine that, in addition to reducing your money, this resource can be useful in times when interest rates decrease. Imagine that I rented a loan a few years ago at a rate of 10 % Because it was what the bank presented you at that time. If the credits given by banks become cheaper now, you can re -financing your debts to control it at the current market price and pay less every month, “they advise.
Three types of re -financing
Consumer Bank in Santander says that starting re -financing “The banks usually demand the payment of another defeated share.” After that, it is appropriate for income and the history of a person’s history. The interest rate depends on the re -debt on the conditions agreed with the financial entity It is usually higher, Although the payment conditions are more manageable. ”
Debt financing can be made in three different ways. Thus, there NovationWhere the loan conditions are re -negotiated with the same financial entity. “This process can include Changes in the interest rateThe deadline of the mortgage, or both, often involves expenses such as Banking committees and justice expensesSCB explains.
On the other hand there is Do not reunite debts. This option means the unification of many loans and mortgages in one loan with better conditions, which leads to one monthly share in general less than the total previous individual classes. ” This process can lead to a file Increase in the extinguishing period Thus, in the total cost due to interest.
Finally, you can choose Subrogación“This allows to change the banking entity if the current object does not get reinstalling the loan conditions.” This method can provide advantages such as low interest rates o Tar longer final dates, but also require expenses such as asylum and evaluation.
