Restructuring homes, buying new cars, tourism: these are the most coveted projects by Italians and for which families can get to request more loans in the bank at the same time, so as to obtain the liquidity necessary to not give up their programs. Faced with the undisputed advantages of personal loans, however, managing the repayment of several loans simultaneously, perhaps even at different financial institutions, can become complicated.

With more funding in progress, therefore, the risk of forgetting the deadlines and that of failing to support the economic commitment taken inevitably becomes higher. So how can we avoid this series of problems and thus avoid receiving recalls from our bank, for example for the non-payment of the debt?

In this regard, you should know that many banking institutions provide a form that allows you to lighten the total monthly outlay and to have a single lighter installment than the sum of the individual installments of all the different loans. We are talking about the so-called debt consolidation loan that offers you the opportunity to consolidate (hence the name) monthly payments on loans in progress, whether they are prepared by the same bank or with different institutions.

How can you get a debt consolidation loan?

Debt consolidation loan: how can you get it?

The debt consolidation loan is therefore ideal if you want to combine your current payments on other loans into one lighter monthly installment, allowing you, at the same time, to receive additional liquidity.

But how is this loan possible? First, you will have to apply for debt consolidation at Once we have accepted your request, the latter will pay off outstanding debts on your behalf. Payables that you can return with longer timescales and less heavy installments as agreed by contract.

Furthermore, to obtain it you will not have to present any collateral. In other words, debt consolidation requires neither mortgage nor pledge rights on your assets and property.

However, this does not mean that credit institutions do not require any kind of alternative guarantee. If you are interested in knowing in detail what are the requirements to request it, we refer you to the reading of the guide written by Extra Money experts on how debt consolidation works. Here you will find all the references on the personal and labor conditions in which it is necessary to return so that the loan request is successful. The loan, that of debt consolidation, which proves to be a convenient solution in many situations.

Debt consolidation loan: when is it convenient?

Debt consolidation loan: when is it convenient?

First of all, the great advantage of debt consolidation consists in the fact that it allows you to re-unite all your debts in progress into a single loan and to obtain, under specific conditions, also an increase in liquidity. Secondly, it guarantees a lighter installment and more extended expiry times over time.

On the other hand, however, precisely because it is neither more nor less than a new loan, to request it will be necessary to charge again all costs for the ignition of the financing: costs of investigation, notary and, if provided, the costs of ‘ insurance on the loan

Finally, as we have already pointed out, even if the banks do not require the contractor to present collateral, it is still necessary to provide additional guarantees, such as the signature of a guarantor or the use of single bills, in order to reassure the institution on economic stability and the profile of the borrower.