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Save money by combining multiple debts.

 

Personal loan in a bank

Personal loan in a bank

Many people have been tempted by the commercials about borrowing on television, radio and internet to take out loans. At that time, it might seem like the right decisions, but now you realize that you are spending more money paying off different loans each month than you can actually pay. Further illustration at http://www.insurance4all.biz/debt-consolidation-bad-credit-debt-consolidation-loan-with-bad-credit-100-online/

Perhaps you can compare yourself with this lady from Sittard. She took out a personal loan with the bank of 10,000 USD, a revolving credit of 5,000 USD and in addition she has a credit card debt of 5,000 USD. The monthly interest that she pays on the personal loan is 6.8%, which means that she has spent an amount of 680 USD on interest only.

The monthly interest on the revolving credit is 6.5%, on this loan she has to pay 325 USD in interest. In addition, she must also pay interest on the credit card debt that she has accrued. The interest you pay on this is 15%, this is 750 USD.

This lady has to pay a total of 1.755 USD in interest per year. However, this is not yet the entire amount that she has spent repaying her loans. In addition to the interest on the loans being charged, there is also an amount per month that is spent on repaying the loans. 

It is not beneficial

It is not beneficial

As everyone can understand, having multiple loans is definitely not beneficial. The monthly amounts that you have spent repaying are not nothing. That is why it is wise to turn several loans into one. You only pay interest on one loan and you only have to pay off one loan. Every month you will soon see that you have a lot of money left over. It is then wise to use part of this money to save, because you do not want to end up in such a situation again.

You can take out a new loan with Good Finance. They are familiar with people who have taken out multiple loans, and they are happy to help you reduce your debts. By taking out a personal loan with Good Finance you can borrow exactly the money you need to get out of this unpleasant situation

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