Online Loans and 5 Tips for Choosing the Right Loan

Online loans and 5 tips for choosing the right loan

Online loans and 5 tips for choosing the right loan

Did you notice that too? You can find everything on the Internet. Every information, every business, every person… Everybody and everything is on the net. Read more at

No wonder. Today, the Internet has more people than television, so lenders also create or move their activities to the Internet.

This is also an advantage for anyone interested in the loan. Detailed information, customer reviews, experience and other insights help us all.

With the help of the Internet, we will learn everything we just remember and do not have to rely on the advice of several acquaintances we meet in real life.

This article deals in detail with online loans. We will find out on what principle they work, who is currently providing them and how we get to such an online loan.

Banks? Everyone!

Some time ago, non-bank providers dealt with online loans rather than banks. It was due to the fact that the banks functioned (and still operate) as stone branches, where the client solves all the financial needs, including account equipment, credit card, mortgage and, last but not least, a loan.

Until recently, clients were accustomed to going with every need and comment to the bank. However, the time is still moving further and with the advent of the Internet, many customers have begun to demand simplification of handling. As there is strong competition among banks, most of them have taken into account the trend of switching to Internet services.

Non-bank companies were and still are in competition. They also had to set up branches or at least small stands scattered around Slovakia. But they did not bypass the trend and get to know the future of their business on the Internet.

If the lender does not work on the Internet today, he would lose so many future customers.

Today everything is virtual 

Online loan

Longer-functioning banks still have tens to hundreds of branches across the country, but have included loans and other products in their online offerings.

In addition, there are new banks that have already entered the market with more or less being active on the Internet. They are characterized by low incidence of branches. Some even have no branches.

As for non-banks, the scenario remains unchanged. There were various “loan shops” that you could have found at every corner in larger cities. As a disadvantage we see the fact that the loan was less than the banks, and if a person was interested in a non-bank loan, he encountered a monopoly in his city. He simply had little choice.

Internet borrowing has also contributed to lowering interest rates and hence reducing lending to the past. Once monopoly providers have huge competition today and attracting a new client is possible either on the basis of spectacular advertising or just as low interest and fees as possible.

How is it today with online loans?

How is it today with online loans?

More online loans now offer non-banknotes. Banks are not really that much, even though walking around the city may be different. Although the bank is at every corner, the internet is always more.

Virtually anyone can become a non-bank provider. There are proven, large and “branded” non-banknotes that have been operating for years, but still new and new. Whether companies or individuals create them, everyone can be a provider.

However, this is the reason that a number of fraudsters and untrustworthy companies appear to spoil the reputation of others.

TIP no. 1) Verify that the non-bank is registered with the Nabaslo, which is in charge of it.

Just registering will help the NBS to properly explore the new provider with its history and intentions for the future. It may happen that a fraudulent non-banknote will explicitly deceive its website and claim to be registered. If in doubt, contact the NBS directly.

The website associates several non-bank companies, all of which are registered with the NBS.

The simplicity of online loans

The simplicity of online loans

In this respect, providers are not unusual. The habit is to have the so-called. a loan calculator, where you can clearly set the amount of the loan and the length of its repayment.

The law imposes on online lenders a regulation to indicate the interest rate and annual percentage rate of charge (RPMN) information for calculations in the calculator.

TIP no. 2) When browsing the provider’s pages, look for interest and RPMN in the loan calculator. Unless this is stated, the provider does not comply with the Regulation.

The website associates multiple providers with different loan terms and parameters. That’s why you won’t find the calculator on the page. We give priority to a telephone conversation with a specific company operator that provides detailed information about all terms and conditions of the loan.

Bank loans a little easier

Bank loans a little easier

It is a little easier to arrange an online loan at the bank if you are a client. The bank has an overview of you, and if it sees you as a reliable client, you can even have a loan pre-agreed.

It is then sufficient to apply for a loan through internet banking and wait for money.

If you decide to apply for a bank where you are not a client, you will probably find a calculator on her site. The bank will proceed through the register control, income assessment, etc. Sending money is thus prolonged.

Non-banknotes more expensive

Non-banknotes more expensive

Non-bank companies are overtaking in that will deliver money faster. They do not view and require certificates and guarantees. Regrettably, this “closure of the eyes” is burdened by higher interest charges on their part.

Non-credit cards also use credit calculators to a large extent, but you will also encounter a simple contact form in which you provide your details and the operator will contact you by phone or arrange a personal meeting with a sales representative.

Especially don’t pay anything in advance!

This is one of the guiding principles to avoid fraud. Untrustworthy providers plunder people in advance because they stop communicating after the money has been collected and can often not be found due to a failure to locate the company. They simply fall off the ground and your money.

TIP no. 3) Never pay money in advance until you have a credit agreement in hand.

We have encountered many negative experiences of deceived people who have written to us that they have often paid several hundred euro “fees” for brokering credit. Others even claimed to have given money to an unknown person who would only recommend a reliable loan to them!

So the reality was that they paid someone € 150 for a recommendation, they never received another € 200 for approval and money. Suddenly they lost € 350, and only because of their trustworthiness and the audacity of someone to “mine” with the alien disaster.

Online loan repayment

Online loan repayment

Once again, it is easier to take out a loan in your bank on repayment. So there is no worry about timely repayments. You just don’t have to keep them in your head because the bank will take them out of your account.

If you are repaying a non-bank, you can also choose a standing order. Payments can also be sent by bank transfer or postal order.

There are also so-called. fast loans. They offer clients a maximum of several hundred euros and are payable once. At the same time they have a short maturity – usually one month.

Change credit agreement 

Change credit agreement 

Under contract change, we mean extending or shortening the maturity, increasing or decreasing the monthly payment and extraordinary (sudden and one-off) installments. It rarely happens that the provider provides such interference in the current contract free of charge.

Sometimes the client’s inability to pay the monthly installment in the agreed amount occurs. If it asks for a reduction in the installment, it will extend its total maturity and pay more in real life. However, the service can help to help in the sudden lack of money.

The same situation occurs when the maturity is extended. The monthly repayment will be reduced, but the repayment may result in much greater repayment.

TIP no. 4) Review the charges for additional changes before signing the contract.

There are two ways in which providers calculate these charges:

  • The modification fee may be expressed as a percentage of the borrowed amount. For a € 1,000 loan and a 2% charge on this amount, you will pay for an extension of € 20.
  • The second provider may have a fixed fee (eg 40 €), you will pay the same for a 500 loan as well as 5,000 €.

Therefore, always find out what the fee will be for the percentage calculation and if you do not pay less for a fixed fee competitor, even though the price may seem at first glance.

The Cancor Brand website brings together several providers, each with a different price list. This allows you to always choose the best offer. If you are not satisfied with any of the offers, you simply end the call and wait for the next offer.

How does it work? 

As we have already written above, the site associates several Slovak non-bank companies. All of them are popular and registered with the NBS. We do not cooperate with unverified companies.

There is a contact form on the page where you can fill in details about yourself, contact details and loan amount. Submit the request.

Your application will be stored in a database to which only participating companies have access. So you do not have to worry that they will be overwhelmed by mail or harassing calls after sending a non-binding request.

There will only be two calls. First you will be contacted by a company that will offer you a loan. You agree with the operator on all terms, set the repayment period, and discuss interest with any charges. It is not excluded that the operator will ask for a receipt or other necessary documents.

If you do not want to meet a sales representative in person, the contract will be delivered to you by post.

    TIP no. 5) In order to speed up the approval of the application, we recommend that you have the most frequent documents prepared (receipt receipt, account statement, etc.).

The second call will inform you of the loan approval. If for some reason you are not approved, do not despair. Resend the form and join another company with you. The one who refused the application or did not ask her for a quote will not hear from you.

The goal of Cancor Brand is to provide people with loans with transparent terms, without hidden and additional charges. We do not cooperate with new and unverified companies.

Final summary


  • TIP no. 1) Verify that the non-bank is registered with the Nabaslo, which is in charge of it.
  • TIP no. 2) When browsing the provider’s pages, look for interest and RPMN in the loan calculator.
  • TIP no. 3) Never pay money in advance until you have a credit agreement in hand.
  • TIP no. 4) Review the charges for additional changes before signing the contract.
  • TIP no. 5) In order to speed up the approval of the application, we recommend that you have the most frequent documents prepared.

In addition to these five principles, there is one that is valid at all times. ¨

Borrow only if you are sure that you can repay the money. Don’t borrow too much money, but just as much as you can to solve the problem.

No loan will ever go unpaid, and even a single penny you may get into trouble over time. Think of your commitments and try to resolve them immediately. Do not postpone them later because the amount owed may increase to unmanageable dimensions.

Fast Loans Offers – Quick Loan for Businesses

What is a quick loan for businesses

What is a quick loan for businesses

Many businesses open in Israel, but sometimes business owners may face difficulties that will lead them to get a quick loan for businesses. These are varied reasons for obtaining a loan from economic collapse or expansion purposes. Every business owner must be equipped with cash flow to manage the business fluently.

Sometimes business owners may find themselves without initial capital and therefore take a loan to promote the business. The loan will allow them to carry out a business plan. Today there are many companies that provide fast loans to businesses – these are loans that are given in a short time without unnecessary headaches, including dealing with a variety of procedures that cause the loan to move away. The main expertise of the various companies is expressed in helping business owners raise the capital they need.

These experts will assist in obtaining consulting services for the purpose of taking loans in the best way possible

These experts will assist in obtaining consulting services for the purpose of taking loans in the best way possible

The same specialists in the field of raising a loan for a business are professionals who are able to assist in obtaining consulting services in order to take the loan in the best way possible. These experts know, among other things, governmental and private aid funds that can be of assistance to various business owners. The ability of the experts to provide consulting services regarding the receipt of a loan. When it comes to obtaining a quick loan, you can save unnecessary bureaucracy and get the loan quickly under the best conditions. We emphasize that quick loans are for business owners who need immediate money and can not wait to receive the loan

Today, there are various ways to obtain a loan, with one way being to obtain a non-bank loan from non-banking entities. Taking the loan allows business owners to breathe for a moment and return the business to ongoing activity.

What are the damages for which business owners may take a loan

What are the damages for which business owners may take a loan

Running a business is not a simple thing, which requires quite a bit of daring and a detailed plan of action in order to run the business fluently. However, sometimes business owners may be subject to various damages that require them to take out a loan in order to continue their business activities. Alongside cases such as improper economic conduct, there are cases of damage to equipment due to a fire or a desire to purchase advanced equipment for a business – for the same reasons the business owners apply for a loan. With business insurance you can get the possible coverings for a business exposed to a host of hazards that can lead to various damages such as weather damage, burglary or injury to an employee at the workplace.

An insurance company that provides insurance for a business will lead to its continuation instead of the business being shut down, and therefore the business should not be bet on when choosing the insurance. It should be noted that insurance of the business is composed according to personal needs and a leading insurance company will know the production of a special insurance policy according to the unique needs of various businesses in order to assist them.

Quick Loan Online: Easy Request


The economic crisis continues to lower the purchasing power of individuals. To carry out projects, they will have to save for several years. The story is on

To remedy this, a credit system has been introduced to carry out construction, repair or other customer projects. Of course, to subscribe to these contracts, individuals will have to appeal to the financial organizations offering these services.

Currently, thanks to the Internet revolution, all interested parties can subscribe in a few clicks while browsing a company’s website. In this way, the procedures will be carried out by correspondence.

To do this, lenders will have to take into account several parameters in order to be sure to find the most suitable credit. There are many tips for quick access to financing.

Search the establishment

Search the establishment

Of course, it will be essential to navigate the various sites dedicated to credit to find the financial institution.

In this case, the choice will be based solely on the decision of the individuals who will evaluate the offers in relation to their needs. As a result, it will be necessary to visit several sites dedicated to fast credit online to have a greater choice.

Moreover, it will be necessary to consult a comparator site to find all the financial organizations offering credits similar to what the individual is looking for.

Thus, every individual will have access to a quick and accurate idea about the features as well as about the cost of every personal loan available on in financial institutions. In this case, individuals will be able to opt for the best formula offering a lower rate.

In this way, the interested parties will not be obliged to consult the offers within the establishments and to waste time to visit them all.

Get tangible records

Get tangible records

The application for rapid credit will quickly analyze the record of individuals. Generally, organizations’ sites are quick to evaluate the files and respond to their clients.

Thus, the answer will be quickly, in some cases it will be immediate, a way to change financial institutions in case of refusal of records.

However, individuals will have to put forward a file and tangible documents to promote the agreement of the credit agreement. Tangible files will help those involved to convince the banker to give him credit. In this case, the lenders will have to prove to their financers that they are in the capacity to repay the monthly payments.

To do this, it will be useful to provide the last three payslips accompanied by bank statements. In fact, these files will help financial institutions determine an agreement or refuse an individual’s credit application.

The bank statements will be sent to potential financiers to show and expose the solvency and good financial health. Of course, it will be necessary to send the required files, including the standard loan application and the civil status documents.

Use a simulator

By definition, a simulation allows individuals to send files to a site to evaluate their file and to simulate the credit application in question. In any case, a loan commits individuals in a long or a short time.

As a result, it is important to study the pay and repayment capacities before embarking on the loan in question. In a few clicks, individuals will be able to check the strength of their files. Indeed, they will have access to reliable answers about their files.

It is really useful to know in a few clicks the cost of the credit, according to the criteria and the monthly payments to pay. Moreover, the simulation of a credit is exclusively free and without commitment. The simulator is also an essential tool for finding a solid credit.

Get the services of an advisor

After several steps to find the best credit, the presence of a counselor will also be very useful.

During a simulation, the results will only mention the bonuses and penalties of individual files. In this case, the sites proposing a simulation do not propose in any case recommendations to the applicants. It will be necessary to find a counselor to help in the process.

The advisor will be able to offer recommendations to individuals based on their records. Moreover, they will also offer advice to those concerned to find the best credit in a limited time. The advice of professionals will prevent clients from getting into a loan that will encourage their over-indebtedness.

Counselors study client files and highlight the benefits while also mentioning the disadvantages to those involved. As a result, they will be able to offer you decisive advice in the agreement of the contract.

Evaluate the needs of the loan

Evaluate the needs of the loan

Of course, before embarking on borrowing from financial institutions, it will be essential to assess the needs and utilities of credit. Quickly accessing a loan helps individuals to finance projects or to cope with unexpected events.

Moreover, using these types of credit offers many benefits for all subscribers, especially in the case of an emergency that can not wait.

Parts will be essential to justify the application for credit to individuals. The needs of the loan will have to be defined before starting all the steps to access the credits. A credit proposed online and granted quickly can reach 21,500 euros.

In addition, the online application is the fastest way to obtain credit for personal projects whether it is the purchase of a car, the construction of a house or other operations requiring a large budget. The steps for this operation present almost no constraint.

Credit helps individuals to realize their own projects. The online application is surely the most sure way to access credit. To do this, it will be necessary to consult comparison sites.

As a result, individuals will be able to opt for the most tempting offer. It will also be necessary to perform a simulation to evaluate the credit application files.

Consumption, auto, personal, real estate, renewable, with or without proof, choose the bank that suits you and gives you the best loan terms according to the amount borrowed.

Fast online credit is a great way to find the best financing. The depreciable and revisable loan simulator also depends on your borrowing capacity and your financial situation.


The credit is made available to the borrower against repayment obligation, with interest. The bank offers you borrowing power and money savings. To do this, it offers you several credit offers that are offered with specific guarantees and at variable rates.

Bank credit itself

Bank credit itself

Credit is a sum of money that is granted and advanced by a creditor and placed at the disposal of a debtor. In return, the latter must undertake to repay it over a period specified in the contract and to pay the interest. This is very advantageous for any type of project or to satisfy his need for money. The amount of money is also defined in advance. In case you still need more money, you have the opportunity to negotiate with your creditor for the increased borrowed capital. You can also take out a new loan. Before granting your credit application, the bank first examines your personal situation, your repayment capacity (with regard to your salary statement, your debt, etc.), your financial history and the guarantees you can provide.
Bank credit can take different forms:
• The loan of money
• The bank guarantee
• The payment period
• The cash credit

The duration

Bank credit can have a varied duration:
• In the very short term (only a few days or months)
• Short term (a few months to 2 years)
• Medium term (2-7 years)
• Long term (7 to 20 years)
• In the very long term (over 20 years)
• Indeterminate (if it is a cash credit)

The interests

The interests

Any type of credit is accompanied by interest that is added to the original amount borrowed. They are justified by the risk that the credit institution has taken, the inflation causing a devaluation of the currency and the remuneration for the banking activity.
The interest rate

As far as the interest rate is concerned, it is comprised of two distinct rates: a minimum, which is the reference rate of the central bank, and a maximum, which is the rate of attrition set by the Banque de France. Among other things, the interest rate can be:
• A fixed rate determined at the inception of the contract and valid throughout the term of the loan
• A variable rate that is indexed to a reference rate
• A revisable rate that is generally a variable rate but has certain limitations
When the credit is variable rate or revisable, the impact of the change in credit rate is made by changing the amount of the monthly payment or the repayment period. It is also essential to take into account certain points:
• How the rate is revised
• How the review affects
• Are the limitation mechanisms real and not illusory


The TEG is the annual rate that represents the total cost of your credit. It can include the expenses of files, the various commissions, the insurance credit and the amount of the specific guarantees. The overall rate is considered the true rate of credit; an essential point for comparing different bank credits.


The APR is of the same nature as the TEG and is intended for consumer credit and real estate credit since 2016.

The different types of bank credit



It is :
• Leasing
• Rent sale
Leasing is a contract by which the leaser undertakes to give the other party the enjoyment of a property at a fixed price. It contains a purchase option at the end of the contract.

Consumer credit

Consumer credit

The consumer loan makes it possible to acquire a consumption good by regular payment, 3 payments to the minimum. It also requires the payment of a minimum deposit of 15% during the signing of the contract. You can find:
• The allocated credit that is granted for the purchase of movable property (eg the car loan credit motorcycle) or a given benefit (garden landscaping).
• The personal loan that is identical to an assigned credit, however, it does not require proof of purchase.
• Revolving credit, or revolving credit, an unallocated credit, is used to finance all current expenses. It is subject to regulation: the credit agency and the borrower both have obligations. In the event that the payment is late, the contract may be terminated, but you are obliged to pay late compensation.

The mortgage

The mortgage

The mortgage loan, defined by the Code consumption, allows to acquire a property for professional use and housing. There are several types of real estate loans: the ELP or housing savings loan, the housing loan and the opening of mortgage loans.

The credit works

The credit works

The loan works can finance all work in your new or old home (development, renovation).

The repurchase of credit

The repurchase of credit

The repurchase of credit makes it possible to regroup all its outstanding credits in one in the aim of reducing the monthly payments. This type of credit is a real solution in the case of over-indebtedness with its single loan, its unique duration and low debt ratio.

Loans between individuals

The credit between individuals is intended for anyone who wants to obtain a loan without going through a bank. It is presented as a solution if you are bank of France (ficp). After opening an account, you can make loan requests online.

Online credit

Online credit

The advent of the internet has enabled the dematerialization of bank credit. Today, online lending is very successful and is attracting the interest of many individuals and professionals. There are also many offers of credit offered, and this at the best rate for an excellent reserve of money. Opening an account on a specialized website allows you to apply for credit online. You can also use a credit comparator to find the loan offer that suits your needs. The loan simulation allows a quick calculation of the TEG.

Merging Loans – Combines Several Credits Into One Profitable Loan!

Merging credit means combining multiple, relatively small loans into one major credit. Credit consolidation is also called credit consolidation and credit consolidation. By combining loans it is possible to extend the loan repayment term and reduce interest payments. For people who have a problem with loan repayments, this may seem like a good solution to financial fears, but it’s not that easy. Several factors need to be considered to be the preferred outcome of credit pooling.

Most often, a situation where credit unification is to be considered leads to irresponsible borrowing and unexpected financial problems. The most common media are people who have borrowed several quick loans or sms credits and are unable to return them. In these situations, there are two solutions that can help consolidate your loans. The first option is to find a new loan to cover all previous credits, thus combining credits, but without the knowledge of the economy and understanding of the specificities and interest rates of the various loans, it can be difficult. That is why Thomas recommends the second option where a person finds a bank or non-bank creditor who offers a credit consolidation service. Most often, credit consolidation will take the form of a combination of several short-term loans in one long-term loan. By combining credits, it is possible to reduce high interest rates on quick loans and pay lower and more profitable interest rates, which are usually applied to long-term loans.

When is it possible to combine your loans?

When is it possible to combine your loans?

Credit consolidation is possible when a person has difficulty repaying existing loans and needs to refinance these loans. Refinancing and pooling of time loans would be possible, it is important that a person has a job or other permanent income. By its very nature, credit unification means that a person takes a new loan to finance their existing loans, and that is why credit institutions are only interested in cooperating with individuals who will be able to meet their new credit commitments financially. Of course, as with any other type of credit, a person must be at least 18 years old to be able to combine credits. Each credit institution determines how many credits can be combined, and there are credit institutions that combine up to 15 credits.

It is worth considering a number of creditors, as the terms of credit pooling may vary between creditors. Variables that differ according to the creditor are usually the sum of the available credit pool, the repayment term, in which the new combined loan will be repaid, as well as the monthly or annual interest rate. These are the most important factors in the credit consolidation process, but it is equally important to pay attention to the cost of drawing up the credit combination, the various additional fees, the cost of administering the credit, the amount of the joint payment and, of course, the amount of monthly payments.

When is it worth considering loan consolidation?

When is it worth considering loan consolidation?

If you have received a number of quick loans and have difficulty repaying these credits, then it may be time to consider combining these credits. Quick loans are a very popular way to quickly borrow in unexpected situations, but not always people appreciate how expensive it is to get these quick loans and unfortunately come together in unpleasant situations where a person is unable to cope financially or physically with all his credit obligations .

If you have come to this kind of situation, then the best solution can be a combination of credits. The combination of loans is not just a combination of short-term loans, but it is also possible to combine long-term loans. If you have, for example, one mortgage loan, a consumer loan and several smaller sms credits, then you may find it easier to deal with all your credit obligations if you combine these credits into one long-term loan.

The biggest plus for credit consolidation is lower interest payments, which can greatly ease the combined loan payments. The benefit of combining credits will also be the fact that a person will have only one credit to be reckoned with.

Not satisfied with the existing creditor?

Not satisfied with the existing creditor?

If you are not satisfied with the conditions of the existing creditor, the combination of the credits with another creditor can facilitate and change the credit conditions, thus making the loan terms more friendly to the borrower. More friendly conditions can make your life easier, eliminate possible stress factors, and ease your financial burden. Credit consolidation makes it possible to get rid of depressing financial situations and get rid of liabilities with creditors whose terms are not in line with your wishes and opportunities.

If you are in a situation where you have a rent or a public debt, it is worth considering a combination of credits. Rentals and utilities are just as important as any other type of debt. Just as in the case of fast loans or consumer credit debts, you can be registered with the debtors’ registry and damage your credit history for a long time if you collect debts for rent and utilities. If you want to combine credit, be sure to share all your details with your creditor so you can find a solution to your financial difficulties.

The benefits of combining credits

The benefits of combining credits

As mentioned earlier, there are several advantages to combining credits. One of your most important benefits is your peace of mind. You will get this peace of mind because all your credit payments will be combined in one loan and you will only have to worry about one monthly payment. Just as smaller interest payments, peace of mind will also help you get a lower monthly payment rate. You will be able to agree on this rate with your credit counselor before signing the contract. So if you want:

  • Less interest payments
  • Smaller monthly payments
  • Pay only one monthly fee
  • Get a longer payment term

Fast Loan Combination | Applications Online

Smaller monthly payments and easier financial planning are just some of the benefits of combining credits in one payment. To increase your ability to combine credits, fill out a questionnaire in several companies. It won’t cost anything, but increases the chances of getting a better deal. If the offer is unsatisfactory, there is no need for further cooperation. An alternative solution is a car loan. Assess your financial opportunities. Borrow responsibly.

Do I have a credit combination?

Do I have a credit combination?

Most often, the refinancing of loans is necessary because the cooperation with lenders so far is not satisfactory. Main reasons:

  • unfavorable loan repayment terms with other lenders;
  • the situation has changed and the lender wants to raise interest;
  • you have taken several loans, but you can only pay interest or fee for the extension;
  • want to take credit holidays, the lender supports it, but at the same time wants to raise interest rates;
  • want to pay only one, not many, bills for your loans;
  • Credit holidays will be needed in the future, but the current creditor does not offer this option.

Any Latvian citizen who has taken several loans can apply for credit unification. As part of the transaction, the lender will sign a contract with you, pay the old debts and you will pay one new invoice to the new creditor in the future. Where a mortgage refinancing procedure is more complex and requires a tripartite agreement. If you want to pay your old debts yourself and pay your bills, look at what a consumer loan offers with a repayment term of up to 2 years.

What are the costs of merging?

What are the costs of merging?

Choosing a longer loan repayment period will reduce the amount of credit payments, but the total amount that you will pay over time to raise finance for the lender will increase. This can be beneficial if you are currently in decline, because under Latvian law you have the right to repay the debt ahead of time – without additional commission. The only costs that a creditor may have in this case are the current month. If any claims are made regarding the application of this paragraph, it is worth contacting the Consumer Rights and Protection Center as this authority protects the consumer rights against non-bank lenders.

The combination of non-mortgage and non-mortgage loans is costly. When concluding a contract for re-crediting, the company will charge a commission for the execution of the contract. The size of the commission is determined individually for each client and depends on the amount, maturity, customer’s credit history, other liabilities and, if any, previous cooperation with the lender. It should be assumed that the commission can reach several hundred euros. It is possible to pay this amount immediately or it is included in the terms of the new contract and paid back gradually.

How to combine loans?

How to combine loans?

In order for the transaction to be successful, it is important to carefully assess how much you are currently paying for the loan repayment. When this is done, it is necessary to fill in the application forms (see table), which should include contact details, income and liabilities details. The future process will largely depend on the creditor’s response and the bid received. Before signing a contract, read it carefully and discuss all the uncertainties. Latvian law provides that you can offer changes to the terms of the contract. If you are a valuable customer, the lender will be interested in making the change. If the offer, however, is unsatisfactory, it is worth looking for other solutions. Borrow responsibly.