The most advantageous loan consolidation

In an increasingly consumer-based world, many people find themselves in financial distress because of the large number of ill-considered unfavorable loans. If you take on more loans than you are actually able to repay, so that you have at least some money to live on, you can easily get into a debt trap.

 Loan consolidation is a common offering of banks

Loan consolidation

One way to grow out of such a tricky situation may be to consolidate loans with one creditor. The point is that all your previous loans will be merged into one and you will continue to repay this single loan.

This noticeably reduces the amount of interest and also extends the repayment period so you get time and the possibility to simply repay the loan. Loan consolidation is a common offering of banks, as well as non-bank lending companies. From this wide range you can easily choose the most advantageous loan consolidation. If you have failed to apply for a loan consolidation at the bank, for example, due to a negative entry in the registers, it is possible to consolidate loans with some of the non-banking institutions using a loan with real estate collateral which is also suitable for disbursement.

What is needed to consolidate loans?

Most banks and non-banking companies require two identity documents from clients applying for loan consolidation, that is, an identity card and, as a second document, a passport, driver’s license or birth certificate.

Documents that are associated with previous loans, such as contracts, notes, credit card or overdraft statements, and / or credit quantification, should also be documented.

Banks require a sufficiently high regular income to be substantiated. If you are on the debtor register or do not have a regular income, your bank is unlikely to approve the consolidation, in which case you can contact one of the non-bank lenders who allow loans to those who do not have a sufficiently high income or are completely devoid of provable income. or have a negative entry in the registers.

Interest on non-bank loan consolidation is somewhat higher and real estate collateral is usually required, but on the other hand it will enable almost anyone to consolidate loans.

How to choose the best loan consolidation

How to choose the best loan consolidation

To find out which loan consolidation offer is the best and most advantageous, use consolidation calculators on the websites of individual financial institutions. Here you will fill in a few simple details and in a moment you will get non-binding information according to which you can easily compare which loan consolidation offer will be the best for you.

Banks with the Highest Interest

One of the most advantageous ways of assessing people’s savings is investing in interest. However, those who want to make more savings with interest rates should open an e-term deposit account. Because e-deposit return rates are higher than classical deposit account accounts. The reason for this is that there are no branch and operation costs in e-deposits, thus keeping the rate of return on accounts opened using an internet banking account high.

Extra money in exchange for your bank

Extra money in exchange for your bank

In fact, it does not give you extra money in exchange for your bank savings on both channels. The money you deposit into e-deposits or time deposits will pay you a commission at a certain interest rate from the income it generates because your bank operates in various markets and markets.

This price is determined as lower in classical deposit accounts opened from branches and higher in e-term deposits opened via internet. Below are the banks that give a high interest rate to even a small accumulation of 5,000 TL.

You can review the following banks and open an e-deposit account online at any time to keep your small savings safe and to gain more dividends on the money you have saved.

Good Finance E-Deposit Interest Rates


Good Finance’s e-Deposit account operates on a daily basis during the maturity period and the rate is updated up or down depending on the market conditions. In this way, you can ensure that your savings are evaluated under market conditions with Good Finance E-Deposit account.

The current interest rate given by the Bank to deposits varies according to the number of days. The 30-day e-deposit interest rate is 8.75 percent. With this interest rate, you can receive an interest of 30,57 TL with a maturity of 30 days.

Good Lender E-Deposit Interest Rates

Good Lender E-Deposit Interest Rates

You can benefit from advantageous interest rates with Good Lender e-Deposit Account which you can open at any time of the day without going to the branch. When we examine the outstanding features of this deposit product, we see that the lower limit for the opening is 1,000 TL, 1,000 Euro or 1,000 USD, the announced interest rates are stated as gross interest and there are flexible maturity options that can be determined by the customer itself from 1 day to 365 days. Good Lender E-Deposit interest rates for TL accounts is 10.50 percent.

Honest Bank Interest Rates

Honest Bank Interest Rates

For Honest Bank, we can say that the advantages are not over. It is a deposit account where you can earn interest based on the opening amount, the currency of the account, whether the account type is cumulative or term, total deposit size and maturity.

Moreover, it is an internet banking account where you can evaluate your savings not only in currencies but also in gold. Honest Bank attracts attention with its high interest rates on deposits. As of 2019, 19 percent interest rate is applied for TL 5,000 in 32 days.

Why is it important for every family to have a fund for rainy days?

One of the most important things for any new family is financial stability. Life is full of unexpected twists and turns and you are well prepared for any challenge.

The importance of savings


Balancing your daily expenses and trying to secure both your family and your child’s future, you sometimes forget how much an unexpected expense on your monthly budget would affect.

Whether you have two weeks left until your paycheck or your car breaks down just when you have several bills to pay, whatever the situation may be, you’ll have to break your budget.

At such times, the extra money would give you the peace of mind you need. Starting to set aside a certain amount is important to protect your family from unforeseen situations.

How Much Money Should I Save?

How Much Money Should I Save?

How much money you have to save depends on the income you have, how big your family is, your monthly expenses and, of course, your standard of living. Experts recommend that the minimum amount be around 3-6 months of savings, based on your monthly income.

Start from somewhere and increase


Saving for 3-6 months may sound like a huge sum, but more important is to start from somewhere. Ask yourself what is the minimum amount you can save each month?

Start with a small amount. Do your best and forget the worry, your fund will soon increase. After six months of saving small amounts, start increasing the amount every month, even if it is small.

What else?

As you slowly increase your savings, it can often happen that unforeseen expenses occur.

When something like this happens, whether or not you save, the extra funds may not be enough to cover the unexpected. What next? At such times, fast online credit, such as a payday loan, can be welcome.

Apply online anytime, 24/7, without paper documents and without waiting in queues. Applying only takes a few minutes, and after approval, you receive the money the same day.

Return the money within 30 days and continue to manage your finances and increase your fund as before. This way you can get the peace of mind you need!

Fast SMS Loan

Short-term micro-loans, which are mainly provided via SMS or the Internet. Many customers are grateful for the speed with which such credit is provided. In general, online calculations do not exceed the time limit of a few minutes, money is most commonly available on the same day. On the other hand, it is a relatively expensive loan in terms of interest rates, which is actually very high, although the depreciation plan is usually quite short. But it serves to quickly overcome the financial problem, whether you live alone or need to solve economic difficulties within the family budget. Learn more here.

Indeed, it is a big hit of modern times

personal payday Loan

Here are a few benefits, not only for new customers, but especially for those who are more stable, who will surely appreciate interesting loyalty discounts. So what bonuses can be mentioned here?

Ask online is very simple, write a few dates in a short contact form and half the administration around the loan is actually at this point already for you. Great, right?

SMS credit is absolutely nothing, there is no reason for applicants to write that they want a smaller amount to actually borrow. Admit it, is this step completely unnecessary?

There are providers who are not in case of application for SMS credit show a stable income as well as you will not test in the register of borrowers.

Availability of credit-maximum

Availability of credit-maximum

You always have an accurate overview of how much you actually pay. Principal plus interest, no extra charges, it’s just a legacy these days. Transparent conditions that will never change!

A big bonus is also the possibility of extending the deadline, all for a modest fee. You do not have to worry about not meeting the original deadline, there is a problem, just agree actively and everything will be fine. However, if you exceed this extended period, the delay charges will be very high. Therefore, you must carefully consider whether you have a loan to repay. This is also true for smaller loans, which are often in the form of a single SMS message, and also for consumer loans of tens or even hundreds of thousands of crowns.

How much can you borrow?

money loan

Fast SMS providers have an interesting bonus prepared for new customers, but there are also some limitations. A beginner can issue a first loan free of charge if there is a fine, his payment history, interest, which he then gallantly forgives. For new customers, however, a large amount is not ready, maximum-about several thousand crowns. After the first loan in order to repay, the ceiling usually increases – with most companies that provide a quick SMS loan, as usual, the limit of ten thousand crowns, in some cases you get something that is a little higher amount of money.

It also doesn’t matter what your social status, your job, or where your permanent address is. Non-bank SMS loans guarantee clear and understandable conditions for everyone, usually under such conditions there are so few that practically everyone can get into them. Theoretically, all applicants over eighteen years of age who can prove regular income (but this does not always and everywhere, this document, as usual, is not required as usual) and the permanent address in the Czech Republic can borrow theoretically.

The higher percentage is usually a disadvantage, remember that you pay the need for a week or a month. In this case, the amount to which the initial principal of the loan will be increased will not be dizzying. Most often it will be an amount in a few centuries, which is in principle exempt from tax for getting money really lightning speed and without unnecessary questions or other formalities.

Frozen bank account

Here is a typical scenario: you go to the ATM to get some cash to pay for your groceries, but to your surprise, your bank account has been frozen and you can not complete your withdrawal. Panic sets in. How are you going to pay for groceries, gas and other basic needs? Rest assured , there are solutions to lift the freeze code from your bank account.

Who can freeze your bank account?


The first thing to do is to determine who has applied a freeze code to your bank account. It may be your financial institution or another creditor to whom you owe money. If you have tax debts, it is often Good Finance for reasons that we will explain below.

In the vast majority of cases, the creditor in question will not have given you a warning that he is trying to freeze your bank account. You will not be warned to prevent you from rushing to your bank to withdraw your money. It’s annoying, but logical.

Your financial institution


If you owe money to your bank, especially if you have credit card debt, it is possible that it is behind the freeze code on your account. In the fine print of several credit card agreements, it is explained that the bank may freeze your account and enter money directly if you are late on your minimum payments.

Good Lender and Good Finance

If you have tax debts with Good Lender or Good Finance, it is quite possible that your bank account will be frozen accordingly. Both income agencies are regularly behind such foreclosures because, unlike other creditors, they do not need court judgment to freeze your bank account. A simple letter to your financial institution is sufficient.

From experience, Good Lender and Good Finance will only freeze your bank account if you do not cooperate (if you do not respond to their letters). They use this means to give you an ultimatum and force you to communicate with them.

Any other creditor

Any of your creditors with payment arrears may try to get a judgment against you in court and then use that same judgment to have your bank account seized. This is not a simple or common procedure, but it can happen if the creditor has made many attempts to recover without success.

What to do if your bank account has been frozen?


The first step is to immediately open a new bank account in another institution. You should not choose a bank to which you owe money for obvious reasons. It is also good to remember that a bank can not refuse you the opening of a bank account.

Then, once the new account is open, make sure your payroll and any other automatic deposit is made to this account (not the old frozen account). You will have to act quickly again because these changes may take a few days to take effect.

Now that you have regularized your situation and are able to do your grocery shopping, it is important to find a permanent solution to the problem.

Make a payment agreement

Make a payment agreement

Most creditors will agree to remove the freeze code from your bank account if you contact them and sign a payment agreement. Most of the time, the freezing of the bank account is used to react and open discussions.

Good Lender and Good Finance are particularly willing to make payment arrangements that will allow you to pay a reasonable monthly fee.

Submit a consumer proposal

A consumer proposal is a legal procedure for entering into a repayment agreement with its creditors. The consumer proposal offers a wide range of legal protections including the lifting of seizures (seizure of bank accounts and seizure of wages) as soon as it is filed. You will also be protected against future seizure.

By filing a consumer proposal, you can significantly reduce the total amount of your debts and spread your payments over a period of up to 5 years, without interest.

Only a licensed insolvency trustee such as J. Alfred Prufrock & Associates may file and administer a consumer proposal. If your situation is urgent, we can meet you quickly and without charge in one of our multiple offices in Quebec within less than 48 hours.

Declare bankruptcy

Of course, personal bankruptcy is a last resort that must be considered only after all other options have been studied.

However, for many people (more than 24,000 in Quebec in 2016), this is the right solution to make a fresh start, free of debt. Bankruptcy is a right and remedy that you can use to protect yourself from your creditors.

By filing for bankruptcy, the seizures against you will be suspended and your bank will be released. Your creditors will also stop harassing you and will only need to contact your trustee from now on. You can finally find peace of mind.