Payday loan consolidation companies: click to learn more
Do you have several payday loans, and do you feel that their repayments are beginning to grow over your head? In this case, new https://paydayloanconsolidation.net/ offerings for a payday loan consolidation could be the solution for you. You can apply for the consolidation of loans up to USD 500,000. If your bank approves your loan consolidation application, it will take care of settling your obligations with other banking institutions. Then you only pay one installment to Lender Bank. The advantage of consolidation is, among other things, that the resulting repayment after consolidation may be significantly lower than what you pay for loan repayments now.
Lender Bank offers loan consolidation to anyone who has two or more loans with other financial companies. The total amount of consolidated loans can range from 50 to 500 thousand dollars. The maturity period after consolidation can be set to 6 – 120 months. Higher maturity may thus be useful to all who need to significantly reduce their regular repayments for loans or credits.
In case of a successful approval of your application, Lender Bank will charge a one-off fee of 1% of the amount of the new loan. This fee is always at least USD 500 (the maximum amount of this fee can be up to USD 5000).
In addition to this one-time consolidation approval fee, Lender Bank also requires that you have a personal account with it. During the consolidation period, a new loan from Lender Bank is repaid. The costs of this personal account range from USD 0 – 300 per month (the amount of a monthly payment for a personal account depends on the turnover on this account).
In addition, Lender Bank charges its clients an annual loan management fee of USD 1,188. The interest rate on Lender Bank loan consolidation is 6.40%.
The price also includes insurance against permanent injury or death. The client can then optionally insure himself in case of loss of employment or long-term incapacity for work.
If you opt for early repayment of a loan, it will cost you a one-off fee of 1% of what remains to be repaid (if the premature repayment of the loan is only in the last year of maturity, this fee will be lower, only 0.5 %).
The conditions for approval of loan consolidation are normal.
Candidates must prove their identity by means of ordinary personal documents. In addition, the bank requires proof of income and those interested in consolidating the loan with Lender Bank must still have a personal account with that bank.