JAEN.- The request for a traditional loan implies an economic study of the client, and supposes a change for his life, since it is money that must be returned in the future. And, sometimes, other additional unforeseen events occur that affect the ability to return the monthly fee established with the financial institution. And, at that precise moment, it is where the immediate debt reunification could be an option to consider. Therefore, you know exactly what it is about, what advantages it offers, and also how to request it.
What is debt reunification?
The reunification of debts consists of coupling all the debts that the client has into a single debt, instead of paying a monthly fee for each one of them. For example, the mortgage payment, the credit card payment or that of any requested personal loan) can be unified into one.
Actually, the reunification of debts is simply a loan requested from a bank. This loan allows you to pay off current loans, to get out of them and be left with a single debt (the new/last loan requested, used to pay the others). To achieve this, it is necessary to calculate the amount remaining to be paid on each of the outstanding loans. The sum of all of them represents the total amount to request at the time of reunification. Depending on this figure, the reunification of debts is carried out by means of a mortgage (a new one or increasing the current one).
It is necessary to consider that the reunification of debts, in the future, means paying more interest. In addition, you must take into account the cancellation costs of current loans, if any. Thus, the reunification of debts is a wild card that serves as an alternative to solve very specific situations.
How to make the reunification of loans?
There are several methods to request a reunification of debts, such as mortgages or personal loans. It is possible to analyze each one of them using a loan comparator, this will allow us to see the characteristics of each financing service through which it is possible to carry out the reunification of debts. In addition, if necessary for the client, there are expert agents who can serve as advisers throughout the process.
Regardless of the situation, it is necessary to evaluate all the possible offers available before deciding to carry out a debt consolidation. And, before executing any action, it is necessary to check if the requirements that are going to be required are met.
Documents needed to make a debt reunification
As with any other financing service, when requesting debt reunification, the bank does a study to find out if the client is profitable or not. For this, the borrower will be required to provide the necessary documents and receipts.
It is necessary to provide the corresponding documentation, in person or online. Each financial institution has its own selection criteria, and therefore requests specific documents. In general, those necessary to reunify debts are:
- DAYS
- To apply for a mortgage, last appraisal of the mortgage or the deed of the property.
- Receipts of the debts to be reunited (mortgages, cards, loans, etc.).
- Employment contract, in case of working for a private company, or the documentation associated with the VAT declaration, self-employment taxes, etc.
- Statement of income.
- Document with work life.
- Latest payroll.
- Bank movements of the last months.
Debt reunification limits
As in any other loan, the limits are established according to the economic profile of the person who needs the service to carry out the reunification of debts. That is to say, there is no maximum or minimum to carry out the procedure, and it only goes hand in hand with the amount owed by the client and the economic balance that it supports. Therefore, the person requesting the procedure depends exclusively on the approval of the entity that provides the service.
–
