If you have several small loans, credits and instalments, you can save a lot of money by collecting them into a joint loan, instead of having them spread out a little here and there.

What does it mean to collect loans?

Many actors who offer small loans and credits charge high interest rates. In addition, it is not unusual to have a postage fee for each payment. If you then have several loans running in parallel, the total cost can quickly become large. Instead, you can collect all your loans or credits into a consolidation loan. This means that you take out a new larger loan with a lower interest rate to repay your old loans.

How does it work?

A low cost with a high interest rate will be a more expensive credit, compared to a high cost with a low interest rate. If you collect all your loans with a single lender, visit big win casino and make some handsome money online, they can usually offer you better terms and interest, and thus reduce your total cost. It can be compared to the principle that it is cheaper to buy bulk when you shop.

What are the advantages of consolidating your loans?

In addition to being able to lower your costs through better interest rates and terms, there are a few more benefits:

Better overview

By consolidating your loans, you create an instalment plan instead of having them spread out. Because you create order and order in your personal finances, you avoid bills that come at different times. Instead, you receive a combined invoice and can more easily keep track of how much is to be paid and when it is to be paid.

Higher credit rating

If you have many different small loans, it can affect your credit rating negatively. Applying for a consolidation loan that covers your current debts shows great financial responsibility and can thus increase the chances of being granted a new loan.

Save money

We have mentioned earlier that you save money by consolidating your loans. But it depends on more than just the better interest rate. Many lenders charge a notice fee! If you combine the loans, there will only be a single notice fee to be paid, or none at all if you choose e-invoice.

Are all loans suitable for consolidation?

The answer is no. When you plan to collect your loans, online casino bonuses are important to collect smartly. Student loans and mortgages are examples of loans that often already have a good interest rate and which you should therefore not collect. Nor annuity loans that you have paid off with the same bank for a long time.

Collecting loans with collector

It can be smart to consolidate your loans with us – both to lower your monthly costs but also to be able to more easily keep track of the payments. When you want to collect your loans with collector, you apply for a new loan that will cover the total amount of your existing loans. Your new loan is then used to repay the old ones. In addition, we offer loan protection for the first three months. You apply easily and safely with bankid.