The mutual consolidation of debts with the request for added liquidity is the ideal solution for the subject who finds himself having more than two installments a month to pay but does not have the necessary availability to pay the debt on a regular basis; every month he finds himself in economic difficulty; you no longer arrive at the end of the month and not only: you need more money to pay for other expenses received after the stipulation of the financial precedents.
Debt consolidation with added liquidity: HOW DOES IT WORK?
The loan to consolidate debts with added liquidity makes it possible to pay off all the financings in a single solution and receive a liquid sum to be used to sustain the expenses that do not fall within the capital quota of the monthly loans. With this type of personal loan another loan is stipulated for a total amount equal to the total residual amount to be paid to the financial institutions with the addition of the liquid amount needed.
With the sum equal to the total capital of all the financial ones in progress, the debt is paid in a single payment, while with the liquid sum the incurred expenses are incurred without producing a documentation that justifies the motivation of the request for the money. The loan to consolidate debts with the addition of liquidity is part of the type of non-finalized loans and does not require any type of documentation attesting to expenses or debts to be incurred.
Following the balance of personal loans previously in progress, there is only one loan to be resolved: debt consolidation. The particular personal loan is calculated based on the customer’s sustainability, evaluating the previous financial situation, reducing the amount of the installments and lengthening the amortization plan. With consolidation, the borrower will now have only one installment to be paid with a single monthly maturity. The difference between the different personal loans previously in progress and the consolidation of debts with added liquidity is in the amount, significantly reduced thanks to the new counting of the financial, and a longer and more sustainable repayment plan.
Debt consolidation with added liquidity: THE THREE STAGES
The debt consolidation solution with added liquidity is presented as a bailout for those who have contracted more than two financial and find themselves having to pay monthly a sum of money that puts them in difficulty, and not only. Many individuals with more financial institutions very often run into the situation of needing another sum of liquidity to sustain other expenses due to the difficult economic situation.
To better understand the mechanism of the debt consolidation loan with added liquidity, a table is summarized below which summarizes the characteristics of the loan and the contract stipulation process, indicating the different phases that go from the calculation of the residual capital of all the financial, to the balance of all the monthly installments to the counting of the new financing with installments and amortization plan, up to the disbursement of the liquid sum to sustain the expenses outside of the financing.
|CONSOLIDATION DEBTS WITH ADDITION OF LIQUIDITY: FIRST PHASE||SECOND PHASE||
NEW FINANCING PLAN
||RATE CALCULATION WITH AMOUNT LESS THAN THE PREVIOUS|
|TOTAL CAPITAL TO BE REQUESTED TO SAVE THE FINANCES AND PAY THE OTHER EXPENSES.||
||CALCULATION OF THE NEW REFUND PLAN WITH LONGER THE PREVIOUS DURATION|
Debt consolidation with added liquidity: THE THREE PHASES IN NUMBERS
The previous table shows the functioning of the debt consolidation with the addition of liquidity to pay off all the loans in progress, bringing all the loans together in one installment with a single maturity and receiving a sum of cash to be used to cover other expenses. outside the financial contracts. The following table now proposes the corresponding table showing the numbers and amounts of a debt consolidation simulation with added liquidity :
|PAYABLES CONSOLIDATION FIRST PHASE||SECOND PHASE||THIRD PHASE|
|FINANCIAL RATES = 500 MONTHLY USD||STIPULATION OF A NEW FINANCING FOR 15,000 USD||CAPITAL TO DILARE FINANCIAL + LIQUID SUM = 15.000 USD|
|TOTAL RESIDUAL CAPITAL = 10,000 USD||RESIDUE FINANCIAL BALANCE = 10,000 USD||CALCULATION OF THE PAYMENT AMOUNT = LESS THAN 500 USD|
|DEPRECIATION PLAN = 5 YEARS||5,000 USD RESIDUE TO BE USED FOR EXPENSES BEYOND FINANCIAL.||NEW RATE SIMULATION = 350 USD|
|LIQUID SUMS REQUIRED = 5.000 USD||NEW INSTALLATION WITH NEW DEADLINE||CALCULATION OF NEW DEPRECIATION PLAN OVER 5 PREVIOUS YEARS|
|CAPITAL TO BE REQUESTED WITH CONSOLIDATION = € 15,000||NEW DEPRECIATION PLAN||NEW DEPRECIATION PLAN = 10 YEARS ALSO CONSIDERING THE INCREASE OF THE CAPITAL|
Consolidation of debts with addition of liquidity: ASSESSMENT OF INTEREST RATE
The choice of debt consolidation with the addition of liquidity is surely the ideal personal loan to solve a situation of economic difficulty in the payment of several monthly installments and to receive a liquid sum to support the expenses received following the stipulation of the financial – and therefore not counted – without incurring penalties, adding surcharges or foreclosure of assets.
Debt consolidation allows the monthly installment to be reduced, ie the total sum of all current financial installments and obtaining one and only one installment with an amount lower than the previous one in order to better manage the monthly remuneration. However, this also means increasing the years of the loan term, in addition to the liquid sum to be added to the disbursed capital which contributes to significantly increase the duration of the new loan contract. For this reason it is important to evaluate the new interest rate, which must be lower than the average previously had during the stipulation of the previous financials.
ATTENTION : to understand if the interest rate that is proposed in the new loan with the consolidation of debts with added liquidity is convenient compared to the previously contracted financial ones and that it is going to be extinguished with the disbursement of capital it is necessary to evaluate the average rate of interest comparing them to each other. To get an idea, look at the following table which shows a general simulation:
|CONSOLIDATION DEBTS WITH ADDITION OF LIQUIDITY||AFFORDABLE INTEREST RATE||AVERAGE INTEREST RATE|
FINANCING IN PROGRESS:
|LOWER THAN 7%||5.76% ABOUT|
Debt consolidation with added liquidity: THE GUARANTEES
The consolidation of debts with added liquidity, as previously mentioned, corresponds to a form of non-finalized personal loan for which it is not necessary to produce documentation that justifies the request for money but this is not a loan that does not require guarantees or particular requirements. In order to obtain a debt consolidation with the addition of a sum of cash, you must have guarantees, or elements that can guarantee to the lending bank the recovery of the capital loaned in the event of insolvency.
Various banking institutions usually ask for a mortgage to be subscribed on a property of equal or greater value than the capital financed so that in the event of non-payment it can recover the money with the sale of the property: for this reason, this type of loan is often referred to as mutual liquidity. The affixing of the mortgage on a property must be carried out on a house that is not burdened by another mortgage – such as a house where there is a mortgage – and must be owned by the borrower.
TO SUMMARIZE: what is still to be known?
Following the obtainment of the capital, the beneficiary corresponds to the new monthly installments with an amount lower than the previous one by means of postal bills or bank transfer, similar to the previous financial ones, with the only difference that it now has to carry out the payment of a single installment that contains all the financial contracts – which have been extinguished and with which nothing more has been done – but in fact another loan is contracted with a different bank.