Many borrowers want to consolidate their loans, but they are prevented from doing so by negative registry entries. Banks will most likely not consolidate these people. But some non-bank companies are willing to narrow their eyes and in exchange for a pledge of property or a third party’s liability to offer consolidation of loans without a register.
The advantage of merging debts with register tolerance is the ability to solve large financial problems and the inability to repay various loans. The companies providing this financial service will secure the debt with the property, set the debtor very low repayments for a very long time, and the debtor can gradually recover from his financial difficulties.
Cons: property pledge and longer maturity
What disadvantages can we find in this area? In addition to the need to stop the property, it is the fact that debt consolidation without looking into the register is a long-haul journey and the debtor may even be in debt for twenty years. As a result, the client can pay a lot more than the sum of all previous liabilities, as debt consolidation after consolidation usually takes much longer.
Therefore, it is always necessary to calculate all the options and choose the one that is most feasible. In many cases, the cheapest is not the best. But the guiding principle should be that the cost of borrowing and possible repayment difficulties must be taken into account when the first loans are requested.
Examples of consolidating loans without a registry
• Acema loan consolidation
Acema’s non-bank company is one of those offering consolidated loans without a register. They are therefore intended for so-called problem clients or clients with a record in the debtors register. The company says it allows these people to get a “new chance of getting rid of debt and living a comfortable life without fear and commitment”. Loans with a total value of between 100,000 and 5 million crowns can be consolidated, and the maturity period can be set to 20 years. Acema notes that clients can earn lower overall interest rates and significantly lower installments.
• Personal Loan Asisteam
This personal loan is a type of property pledge. The provider also offers it as a loan suitable for merging previous debts. You can borrow up to 3 million crowns, with a maturity of up to 25 years. Everything can be done without looking into the debtors register because the loan will be stopped by the property. The maximum loan amount can reach 70% of the value of the property.