With the scrape in the register of borrowers you will have to forget about the classic bank loan consolidation. One option is to visit a non-bank company that does not view the registry. Will this move be beneficial or is it a risky risk?
Everyone has to make it clear to the start whether they really need consolidation. Although it is a very effective tool to reduce monthly payments and streamline the management of liabilities, it has one downside to lending. Lower monthly repayments are redeemed by a longer repayment period and a higher overpayment. Paying for loan consolidation will pay off if most of your money is going to cover repayments and you don’t have free funds for everyday life.
The sinners at the bank will not succeed
Who to consolidate? Loans are provided by selected banks and non-bank companies. If you really are looking for a consolidated loan without a registry, you will need to head to the bank. They always check their clients thoroughly. They thoroughly examine whether the customer has repaid his obligations in time.
What is the Debtors Register
It is an interest group whose members exchange information on their clients with each other. Members are recruited from banks, credit companies, building societies, telephone operators, power companies or wholesalers. The largest database has the SOLUS debtors register.
One small hesitation is enough, and the official will most likely reject the consolidation request. The bureaucratic machine does not distinguish whether it is a chronic defaulter or a forgetful person who has not paid the telephone bill in time. Another reason for rejection may be low monthly earnings that do not meet the internal criteria for merging loans. Banks simply do not like to risk. They do not want to waste money unnecessarily when they are not certain of a financial return. Debtors looking for consolidation and having a financial shredder must head to other financial institutions. However, it is necessary to realize all the risks that non-bank consolidation carries.
When the bank doesn’t help
There are a number of non-bank institutions that provide loan consolidation. But only exceptions do not look into the debtors register. Particularly in the case of mergers, prudence is in place. Companies that don’t care about your past sins or current income will offer you very unusual conditions. The reason is obvious. Such non-bank companies have a number of potentially risky customers, so they must offer more expensive services. Who wants to consolidate without a registry will have to pay extra.
Do you know how much you can save on consolidation?
Offer credit companies
You can merge classic loans, credit card debts, or even overdraft liabilities. The total number of loans is not decisive. The only limitation is the sum of all liabilities. Banks are most willing to combine liabilities up to CZK 600,000, some are able to help with liabilities up to CZK 1,000,000. While the range of non-bank consolidations is very variable. For example, ACEMA will combine liabilities in the amount of CZK 5 million.