Business and Financial Needs

The home mortgage, car share, the latest model TV we decided to pay in installments … Our debts have found their worst enemy in the crisis and many families, with water to the neck, have had to seek solutions to tackle excessive expenditure, only a few months ago, just was hard to take. Now more than ever, companies make the reunion in August of loans, but is this really the solution?

The reunification of loans is essentially based on the integration of our personal consumer credit or mortgage on our house most of the time-that is, to turn our short-term debt Long-term debt. In this way, we will concentrate our payments into one and reduce the monthly payments, although some counterparts commissions, interest rates rose with increasing maturity, …

TIPS TO LOAN REUNIFICATION

With the money does not play, so before making a decision and opt for a reunification of loans we should learn tips such as those issued by the Organisation of Consumers and Users (OCU) in its report “The consumer and financial products.”

According to the OCU, most often it is a mistake to go to trading companies and / or financial advisors, as they charge fees for services to which stakeholders can access on our own.

From the OCU also recommend us to avoid irrational abuse credits should only use them if necessary, to invest our savings with security to prevent disaster and, in case of problems, alternative solutions to the credit reunification : family borrow on favorable terms, ask for salary advances and even extend the term of the mortgage.

The organization FACUA-Consumers in Action remember we are talking about complex operations, it is appropriate to search, compare and think twice before signing. FACUA also affects the added cost of the reunification process credit intermediaries therefore concludes that it is better to deal directly with financial institutions.

In the same vein, Luis Pineda, president of Ausbanc, advises “extreme caution and go to the banks of a lifetime” while denouncing the ad lies some intermediaries.

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