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Debt Repayment Loans – Debt Consolidation

In the last few years, Croatia has been plagued by a wave of emigration caused by poor economic conditions, steady rising unemployment and political turmoil. The rough estimate they are dealing with when it comes to emigration is half a million people.

One salary on average

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Among them are certainly some 300,000 people whose accounts are blocked. Some of them were blocked by their guilt, and some were the result of events in Good Finance. However, every citizen of Croatia is aware that one salary on average separates him from the abyss. Many, therefore, turn to families for help, but many of them admit that this is not an option because almost everyone is in the same situation.

Financial institutions are therefore being imposed as a logical solution. They have adapted their business to the average customer. Banks and savings and loan companies still have more rigorous conditions than credit houses. They check the creditworthiness of clients and do not lend easily to repay debts .

Ability to repay their debts in monthly annuities

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It keeps an eye on the creditworthiness of clients, that is, the ability to repay their debts in monthly annuities. This is influenced by the type of employment of the client, the status of the client in the bank, as well as whether he or she has savings. All these factors influence whether a bank will approve debt repayment loans.

A fixed term contract reduces the chances of a loan being approved to repay debt . Although it is the most common type of employment in Croatia, banks still see it as too risky. For this reason, workers employed with a fixed-term contract receive loans, loans and loans. Equally, banks offer better conditions to their long-term customers and those who have savings. But this practice has changed in recent years as banks seek to attract new customers. The need also arose because credit markets appeared that were open to all types of clients.

Debt repayment loans in their product range

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Credit houses offer debt repayment loans in their product range. The type of employment contract plays neither a role nor a client’s status. The most important thing is that the client has a regular income and regularly settles his debts. Debt repayment loans are for this purpose and are issued in smaller amounts.

They are most often used to cover current account overdrafts, which is also the most common way of borrowing in Croatia. The interest rate on debt repayment loans is usually lower than minus. Therefore, by covering the minus, the client settles on 10 percent interest. The benefit of this is for anyone trying to get out of debt.

Applying for debt repayment loans is easy and fast. Credit companies have moved their business to the internet, which means that the customer does not even need to go to the branch. It is enough to download the ID cards and current account cards through the credit house websites and follow the procedure. After that, the contract is removed, which the client can read peacefully and then sign if he agrees to the stated conditions.

This is followed by the payment of money in a minimum of 15 minutes or a maximum of 24 hours, depending on whether the required documentation is complete. This type of business is particularly appealing to the younger population, who are used to dealing with everything in just a few mouse clicks.

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