Increasingly, credit consolidation is an interesting financial product for households that have multiple credits in place in separate entities.
However, we know that not all banks or financial entities want to take the risk of acquiring all of a customer’s debt, which could potentially be a risk.
However, there are several options on the market, one of which is NNP consolidated credit. Although this financial product is not widely publicized by the bank, its existence is a boon to many Portuguese.
Today Kanner family has decided to present you with the NNP consolidated credit, so that you know how it works and if you need it, you can ask the bank for this credit consolidation.
NNP Consolidated Credit or NNP Personal Credit?
As we said earlier, this product has not been advertised by the bank (at least in recent months), yet its existence is a reality that turns out to be beneficial to hundreds of people who see their financial life a bit disorganized.
It is important to note that in the vast majority of cases, households have an effort rate that allows them to purchase a new personal loan, which enables them to quickly settle all other existing loans.
NNP consolidated credit works exactly to this extent, a personal loan is provided, which will serve to settle all other credits, allowing for a monthly savings that can in many cases be as high as 60%.
It is important to note that NNP’s consolidation options are probably some of the best available today, as the interest rates in these cases are much lower than most banks and with a repayment period of up to 10 years (120 months).
Therefore, it is this “aggressiveness” that allows you to save significantly on a monthly basis to the point where you can once again take control of your financial life.
Do I have access to NNP consolidated credit?
The truth is that we cannot guarantee you any credit approval without knowing your track record. However, it is important to note that only 5% of applicants (ie 5 out of 100 people) get approval.
The reasons for not approving a consolidated credit are immense and can range from bad banking history, excessively high effort rate, no effort rate justifying consolidation…
If you have not been approved for NNP consolidated credit, do not worry, as this does not mean that another bank will not be able to consolidate the existing credit.
Try a Kanner family simulator
However, one option may be to use Kanner family’s consolidated credit simulator to understand for sure which solution is best for you. It may even be possible to come up with an alternative that is far more beneficial to your particular case and that does not essentially involve consolidation.
After running the simulation, one of our consultants will contact you for a diagnosis and we can find the best alternative for you and your needs.
The important thing is not to give up on getting your financial life in order, as this will save you the most money.