Bad credit debt consolidation -Request a consolidation loan now for an instant quote

Request a consolidation loan online today for an instant quote

The conversion of several monthly loan installments into one lower is a good and beneficial solution, which translates into a lower burden on the household budget. Combining several debts into one with a lower one is possible thanks to the consolidation loan via collaborating using Consolidation Now. It is thanks to him that the monthly debt value will be much lower. In what situations is this a good solution?

A consolidation loan is a solution that avoids late repayment of debt for a person who has more than one liability. This means that smaller cash loans or loans are combined into one debt. Thanks to this solution, the customer has only one loan, whose monthly installment can be much lower than the sum of all individual debts. A lot depends on what conditions we decide on and how long the loan period will last.

Almost all types of bank loans can be subject to the procedure of merging several liabilities into one: credit card, installment loan, cash loan, car loan, mortgage loan or revolving loan.


  • one lower installment, which is a smaller burden and allows to maintain financial liquidity
  • a much better solution than paying old installments late or not at all – banks will not demand immediate repayment of the loan and will not seek redress
  • maintaining financial credibility and maintaining a good credit history


  • the bank that wants to merge your loans will offer you a lower installment, but will also extend your loan period. This is where the bank will earn – in the long term, it will charge you interest
  • there will also be fees for granting the loan, additional costs may occur, e.g. policy purchase.

Types of consolidation loan

There are two types of consolidation loans: cash consolidation loan and mortgage consolidation loan. There are differences between these loans, which are almost crucial to decide which type of loan to choose and how to determine the goal.
What makes these products different? Let’s see:

  • Cash consolidation loan

– by taking it, the customer can receive additional cash for use for any purpose

– the maximum amount of cash consolidation loan is tens of thousands of zlotys, which is why it consolidates cheaper liabilities

– the loan amount depends to a large extent on the banking institution

  • Mortgage consolidation loan

– the amount of the consolidation loan is quite large, it is limited by the value of the property that is taken under the mortgage

– the interest rate is much lower than in the case of a cash consolidation loan

– has a mortgage security

What is worth paying attention to?

Consolidation loans, like any other liability, are the same as the conditions that must be followed and checked before entering into a contract. Important parameters for the borrower are:

  • installment amount after consolidation
  • commission for granting a loan
  • APRC (actual annual interest rate)
  • total amount to be repaid
  • loan collateral
  • consequences of non-repayment or delays

Undertaking a consolidation loan frees the client from many installments, and instead pays one – lower. It is through the extended financing period that the monthly installment is much lower than those paid so far.

It is worth mentioning, however, that the longer the loan period, the greater the amount to be repaid. Despite this, the decision on a consolidation loan is better than the late repayment of the previous few liabilities and exposure to bank enforcement, loss of credibility and creditworthiness, and a negative history in BIK.

The consolidation loan gives the client a lot of possibilities and benefits: installment convenience, reduction of monthly load. It is worth emphasizing that applying for consolidation at a time when the debtor already has a problem with the timely repayment of his liabilities may cause the bank’s refusal.

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