Payday loan debt consolidation companies -Read more about debt consolidation
The concern of many of the people who manage one or more credits is always How to settle? Apply for a loan to pay debts? Did you stop paying? Among so many doubts that may arise when you have problems to solve your debt, perhaps the most recurrent is the first one that we present. And yes, many times it is the first thing that comes to mind, cover one credit with another, but … Is that good? Does it fit? Here we tell you.
Read more about debt consolidation
Generally, the financial products with which you can consolidate your debt at https://dedebt.com/ is with credit cards. At present, there are different Financial Institutions that offer the service and depending on the bank they offer different features and benefits such as:
- Accept debts from the bank and departmental cards
- Credit line according to the customer’s debt and ability to pay
- Deadlines from 6 to 48 months and open
In order to begin a process of transferring your or your credit card balance to another plastic of another institution, you must search and compare the available financial conditions. In our online comparator, you can access all the cards that offer market balance transfers.
Once you have chosen the card that suits you, be sure to pay your last monthly payment on time and in good form before requesting the change to the institution you have chosen.
How to pay my debts?
There are many strategies to pay a debt, it all depends on the type of debt you have. For example:
- In the case of credit cards, it is best to consolidate the debt, transfer it to fixed payments or increase monthly payments to at least twice the minimum payment and stop buying products and services with it.
- In the case of personal or payroll loans, it is important to know if there is the possibility of making advanced payments without penalty. It depends on that you can get another loan with better financial conditions to be able to pay the current one
Loans to pay debts in Mexico
The way you can pay a debt through a loan in Mexico is through debt consolidation. This procedure consists of approaching a bank or company that offers you better payment terms to negotiate the settlement of all your debts with other institutions.
This process will allow you to maintain a single debt with a single Financial Institution. What can save you in the final amount, in a longer-term with lower monthly payments or in shorter terms with lower interests.
Should we ask for a loan to pay debts?
This answer may be relative:
- If it is convenient without the financial conditions of the second loan, they are considerably better than the first and if the debt is settled.
- It is not convenient if the financial conditions, for any reason, are not considerably better than those of the first loan and you do not end up paying off the debt, in that case, you would now be left with two unpaid debts, which could further affect your economy.
Should we hire a loan to pay debts? Yes, and only if it is enough to pay the entire debt and allows you to continue managing your personal finances normally without requesting another short or medium-term loan.