Consolidated credit to combine debts: What are the advantages?
Adding different debts into a single credit is possible, and besides simplifying the payment return, you end up paying less for all. Understand all the advantages of this financing.
What are the advantages of consolidating debts through a consolidated credit?
Do you know what consolidated credit is? This is a financial solution that allows you to combine several debts, such as personal credits, credit cards, and other loans into one financing with a single monthly installment.
The goal is to simplify personal finance management and reduce monthly burdens, through more advantageous conditions such as lower interest rates and longer payment terms.
Let's see all the advantages of hiring a personal loan:
- Lower interest rates
As a rule, consolidated credit allows access to lower interest rates applied to other credits, such as credit cards or small consumer debts. This can result in significant long-term savings.
- Extended payment deadlines
Consolidating various credits makes it possible to choose a longer payment term, which will reduce the addition of monthly installments to be paid. Although, in the long run, this will mean paying more interest, it is a good option for those who need to reduce expenses in the short term.
- Reduce monthly burden with debts
These conditions will allow you to significantly pay less for various debts. The single monthly installment you will be paying for the credits will be lower.
- Better management with a single debt
By consolidating credits into one, management becomes simpler, having to respond only to one debt and reducing the risk of forgetting any payment.
- Reduced effort rate
By reducing the amount you pay monthly in installments, your effort rate (percentage of monthly income for credit payments) will decrease, increasing the available income of your monthly budget.
- Possibility of additional amount
In addition, there is also the possibility, when consolidating credits, of obtaining an additional amount - which can be directed to other needs - without substantially increasing the monthly installment.
- Prevent defaulting on debts
Finally, consolidating your credits will prevent you from defaulting on individual debts, establishing a single financial commitment.
Are you considering advancing with a consolidated credit? Understand if it will be advantageous with the free help of a credit intermediary from Poupança no Minuto, who will collect proposals and compare them, so you can find the best market conditions for yourself!
Start by simulating your consolidated credit, filling in the information about your current debts, here: