{"id":11336,"date":"2015-10-12T08:10:53","date_gmt":"2015-10-12T08:10:53","guid":{"rendered":"https:\/\/multicredit.ch\/wp\/consolidation-de-dettes-de-quoi-sagit-il-exactement\/"},"modified":"2021-03-10T11:03:43","modified_gmt":"2021-03-10T11:03:43","slug":"debt-consolidation-how-exactly-does-it-work","status":"publish","type":"post","link":"https:\/\/multicredit.ch\/en\/debt-consolidation-how-exactly-does-it-work\/","title":{"rendered":"Debt consolidation: how exactly does it work?"},"content":{"rendered":"<h2><span class=\"ez-toc-section\" id=\"Regrouping_your_debts\"><\/span>Regrouping your debts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A debt consolidation will give you the possibility to reimburse several financial commitments with only one payment thanks to a new loan. You could see it as if the bank pays off your debts. That\u2019s why it is also known as credit pay off in Switzerland.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Only_one_monthly_payment\"><\/span>Only one monthly payment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Considering that the bank will reimburse your debts on your behalf, you will then have to make <b>a unique payment<\/b> to them instead of several reimbursements each month. Having only one payment to do will help you manage your budget and reduce the risks of late payments! If you don\u2019t make more financial commitments that you can\u2019t repay, all your debts will be paid off quickly and you will be able to keep a good credit score.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"A_lower_interest_rate\"><\/span>A lower interest rate<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A debt consolidation can be a very interesting option if you have unpaid commitments with a high interest rate (credits cards for example, come with an average interest rate of 20%). By getting a new loan with with a lower interest rate, you smartly <b>optimise your debts repayment<\/b>. Many types of debts can be regrouped in a consolidation loan. If you have a doubt, you can ask you bank and they will be able to tell you precisely which ones they can repay or not (credits, credit cards, leasing, mortgage,\u2026).<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Who_can_benefit_from_this_alternative\"><\/span>Who can benefit from this alternative?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>What should you do to get a debt consolidation and what is the eligibility criteria? Just contact your bank or a credit agency in order to get a <b>free and non-binding analyse<\/b> of your financial situation. If you don\u2019t quite fit the criteria, they will be able to advise you and redirect you towards a more suitable solution.<\/p>\n<ul>\n<li>To have a good enough <b>credit score<\/b> (not too many late repayments).<\/li>\n<li>To have a <b>stable income<\/b> so you can manage the consolidation loan.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Where_to_find_this_financial_service\"><\/span>Where to find this financial service?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Do you wish to get a debt consolidation in order to <b>simplify your budget<\/b> and <b>increase your saving capacity<\/b>? Do not hesitate to compare various offers on the market! For a first exclusive contact, <a href=\"https:\/\/multicredit.ch\/en\/\">click here<\/a>. MultiCredit is a credit repair specialist in Switzerland.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You probably already heard about \u00ab debt consolidation \u00bb, also known as credit repair in the US. How exactly does it work? A debt consolidation, consists in getting a consolidation loan from a bank, in order to pay off all your debts. Why is it convenient and what is the process for it? Let\u2019s have a look.<\/p>\n","protected":false},"author":4,"featured_media":11331,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[263],"tags":[638,639,640],"class_list":["post-11336","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-en","tag-consolidacao-en","tag-consolidacao-creditos-en","tag-credito-de-consolidacao-en"],"_links":{"self":[{"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/posts\/11336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/comments?post=11336"}],"version-history":[{"count":2,"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/posts\/11336\/revisions"}],"predecessor-version":[{"id":15001,"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/posts\/11336\/revisions\/15001"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/media\/11331"}],"wp:attachment":[{"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/media?parent=11336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/categories?post=11336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/multicredit.ch\/en\/wp-json\/wp\/v2\/tags?post=11336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}