Debt settlement

A debt settlement loan is a solution to replace several loans by forming a single loan.

 

A property as a security is needed for the application. It can be used for the settlement of several loan types: mortgages, personal loans, trade loans, and overdrafts, car loans.

 

Any questions left? contact us!

 

When is debt settlement necessary?

 

  • When your monthly instalments are too high,
  • When you need additional financial resources,
  • When you have loans from different banks which you want to rearrange into a single loan,
  • When you are ready to replace constantly changing instalments with a steady and calculable one.

 

What do you need to consider?

  • Which currency suits your interest best when paying your undertakings in the form of a single loan? : eliminate currency risk, or the contrary – speculate with currency changes?
  • Is it worth rearranging your current loans?: are the costs of the rearrangement in line with the advantages of the new loan?

How can we help?

  • As an independent financial agent, we are motivated to find the best deal for you. We work in partnership with 18 financial institutions, and have access to the full loan selection for you to choose the best solution.
  • Resulting from the great volume of transactions managed by our Financial Experts, financial institutions offer unique discounts to our clients.
  • We acquire the information for you, and calculate the pros and cons for you.

 

What are debt settlement loans like?

 

The main purpose of the loan is the conversion, aggregation of existing loan(s). The loan value shall be at least HUF 1 Million, but must not exceed around 50-70% of the property value.

 

What are the conditions?

 

The most important condition is that banks will convert only loans where no payment delay occurs. This must be verified with a document.

 

Who are not qualified to receive a debt settlement loan?

 

The first and most important problem is when the existing loan is not paid by the rules. It means that the bank will check any delays in payment longer than 30 days in relation of the previous one year. Appearance in active status in the Central Credit Information System (“KHR” in Hungarian).

Loans under executory procedure or terminated loans, or loans provided by private individuals are not converted by any bank either.

 

What are the costs?

 

Costs of a debt settlement are similar to the costs of taking up any mortgage. In case of HUF 5 Million, the costs will be around HUF 90 thousand. Bank promotions generally include these loans as well, so if you’re lucky you won’t actually have to pay most of the fees, or the paid fees will be reimbursed in some form.

 

ANY QUESTIONS LEFT?CONACT US!


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