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In recent years we have often heard of debt consolidation as a last resort for desperate insolvents. Actually, debt consolidation is a tool that has many advantages for you, and resorting to it is not as difficult as you think.


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Debt consolidation: what it is and how it is obtained from banks

Nowadays everyday life almost necessarily imposes the use of certain financing instruments to be able to make an expense.

This applies not only to entrepreneurs but even to employees. Suffice it to say that today it is sufficient to decide to get married or renew the furniture to have to resort to a loan, not to mention of course the purchase of a house.

In your case, it is even worse because in the course of your entrepreneurial activity you are forced to buy a series of products and services that can have a high impact on your cash availability.

Here, then, that a tool like debt consolidation at ConsolidationNow official website cannot only help you but save you unnecessary financial costs, interests, and tensions.

First of all, don’t be afraid if you’ve never heard of it. Most likely it is because banks tend to hide a possibility that only benefits you and not their business.

Using the usual tools proposed by the bank will lead you to have more difficulty in paying off the debt, and consequently, you will be placed in a Basel 3 rating that is not optimal or even considered unreliable. This, in turn, will lead to a further increase in rates, creating a spiral with no way out!

If this is your difficulty, don’t despair: the State protects you through a law issued in 2012 which, together with the debt consolidation tool, can give you concrete help.


The tools that banks propose

The debt consolidation loan is almost always “omitted” by the banks in the negotiation phase, above all because the latter tend to propose agreements that allow them to return within the short of the expenses incurred.

The first solution proposed and the most common one is certainly the cash or overdraft facility, which is the most expensive and least controllable trust there is. It basically consists in the possibility of using a given off-balance availability to meet short-term liquidity needs.

But often this is not enough and you arrive at the “extra trust”. Banks, instead of keeping you from “going even further,” let you do it by applying a higher rate and signaling yourself as “unreliable”, worsening your Basel 3 rating. This would not happen with debt consolidation.

I can explain how it works and provide you with a free consultation to get it!

Also, the advance invoices are two instruments where the banks anticipate to their customers the consideration of the invoices presented. However, these loan methods have the same result of a worsening rating in the event that there were some unforeseen collections, and therefore unpaid costs, a further worsening of the Basel 3 rating.

It’s not over here: in order to take advantage of these tools, the banks also ask for a fixed commission, regardless of whether or not the available funds are used.

At this point, it is clear that these practices alone would be enough to ruin your business. We also add that when these loans are used the situation is not rosy, and very often one ends up requesting loans to pay other loans.

Finally, we must not forget all the other expenses you have to incur to have a business that works: mortgages or leases for purchases of goods, machinery, structures, etc.


The debt consolidation as a measure of protection for the entrepreneur

The debt consolidation as a measure of protection for the entrepreneur

A situation that is not always possible to sustain, but which above all does not allow us to understand what comes out of the pockets of your company every month. All these problems can be remedied by debt consolidation. But what does it consist of?

The debt consolidation is essentially a renegotiation of all loans at your expense and a transformation into a single loan. Put like that, it looks like a godsend, so I try to explain myself better.

The moment you are dealing with a plurality of creditors who put pressure on you each on their behalf, it is difficult to be able to please everyone in the absence of liquidity.

This is why debt consolidation takes care of paying off all your previous loans and transferring them to a single loan. This means that you will no longer have any obligations to X and Y because Z will have paid you in your place. From that moment you will have to confront yourself only with him.

Obviously, debt consolidation implies that, in order to be able to face a single installment, this cannot be higher than the sum of the previous installments. This also logically implies that the debt will have a longer duration.

What are the benefits of debt consolidation? First of all the possibility of having a single interlocutor, who understands all your needs because he knows the difficulties you have had to face.

Moreover, debt consolidation improves the corporate rating and consequently keeps the interest rate stable. This allows you to have no surprises every time you have to pay an installment.

Having only one installment, lower than the previous situation, allows you to have more liquidity and be able to make expenses in peace, albeit with rationality, because you are perfectly aware of how much and when you have to pay.


A step towards recovery

Greater liquidity rationalized expenses and improved ratings are all characteristics of debt consolidation that lead to a real financial recovery path.

It is not impossible to get out of the spiral of debts, it is enough to be aware of the resources available.

The problem is that entrepreneurs do not know of the existence of this instrument because the banks themselves do not propose it in the first place.

The latter, in fact, have a greater interest in operating in the short term rather than in the long term. This is because they can put pressure on an immediate return or on the threat of a reduction in credit lines, even after a small delay in payment of the installment.

This is not possible in the same way over the long term, where there is still the possibility of re-entering using other methods.

Certainly, we cannot expect from the banks that go against their own interests, suggesting options that are to their detriment! But you then choose to buy the money you need at the best possible conditions!

This is why it is important to be aware of the right tools to operate in this field. Only a financial advisor can better direct you to the opportunities to be seized and the mistakes to be made.