Consolidation Loans For People With Bad Credit

How To Get Approved For Consolidation Loans For People With Bad Credit

If you are looking for a way to get approved for a consolidation loan, you are not alone. Many people who find themselves in financial difficulty are looking for options to help them get out of debt.

There is a big red circle over the head if you do not pay your monthly bills on time. It is a scary thing. It does not matter if you are a homeowner or not.

Consolidate debt to lower your monthly payments

Consolidate debt to lower your monthly payments

People with bad credit are not at all exempt from falling behind on their monthly bills. Even if they have good credit, it is very likely that they will fall behind on at least one item in the household budget. Sometimes all it takes is a little negligence on the part of a person that has good credit.

When you need to consolidate debt to lower your monthly payments, it can be very difficult to get a loan when you have bad credit. The government may offer some special programs for those in financial trouble. They are not the most common option.

A low-interest rate on a consolidation loan for people with bad credit can help you avoid making payments that are very high. If you can find a program with a low-interest rate on a loan, that would be great. This would be more of a last resort than a first choice.

A lot of companies and lenders are available to help you consolidate your debt and get you the best rates on the consolidation loans for people with bad credit. They will help you find the best options for you.

Must be able to pay your debt on time

Must be able to pay your debt on time

If you want to improve your credit score. Paying your debt on time will help you be able to qualify for a higher interest rate on your consolidation loan. They are going to be looking at your debt as a new mortgage and if you make all of your payments on time they will give you a better rate.

While you cannot get a loan with a poor credit score you can get a loan with very low-interest rates. This is very possible. Most lenders are interested in your income so they will have a closer look at what you are actually earning.

For those with bad credit, the consolidation loans for people with bad credit are the first place you should start. There are many lenders and companies that specialize in loans for those with bad credit.

You have to check into the expenses on your income

You have to check into the expenses on your income

You do not want to consolidate debt while paying off credit cards, cell phones, and other unneeded expenses. These are unsecured debts, and the creditors can sue you if you do not pay the money that you owe them.

You should work out a repayment schedule that can make your monthly payments low enough to avoid any debt collection actions. You should only consolidate unsecured debt with high-interest rates like credit cards and payday loans.

If you have bad credit and need a consolidation loan, you can get one. Just know that you will have to be careful how much money you borrow because the interest rates are high.

Take out a payroll home loan.

If you need mortgage loans without payroll, at Spin Lender we can help you. You only have to contribute a real estate property, we will appraise it and, from there, we will give you the necessary amount. We finance from 6,000 USD and cover a maximum of 30-40% of the value of the property once appraised. Payroll mortgage loan granting process.

The return interest ranges between 9 and 12% of the capital granted. Keep in mind, on the other hand, that the properties that you can provide as collateral are single-family houses, garages, flats, warehouses, premises or hotels, among other possibilities. In principle, the property should be free of charges, but non-payroll mortgage loans are offered to close as mortgages or liens. Ideally, you should use this form of financing as a specific assumption to get you back on track. The objective of our operations is to go where traditional financial institutions do not usually do it.

Payroll-free mortgage loans

Payroll-free mortgage loans

We want non-payroll mortgage loans to be repaid, and for this reason the terms are long; It is about you being able to return the money you ask us for, and for that reason, we give you all kinds of facilities. You have the possibility of returning a year or doing it in 10 years, to have the guarantee of facing your obligations. On the other hand, fees can be monthly, quarterly or semi-annually, so there are several options to choose from. You have the option of paying back a principal installment plus interest or facing the interest and, finally, amortizing the borrowed capital.

Another aspect that we attach importance to is reliability. For this reason, we promise that the operation be signed with a notary you trust. In this way, you will gain peace of mind. In addition, the company’s operations are regulated by the Ministry of Health and Consumption. One of the pillars of our operations is that you are sure when carrying out the procedure.

The usefulness of applying for quick payroll home loans

The usefulness of applying for quick payroll home loans

Financing is a fundamental aspect and, for this reason, it will be convenient to take into account the needs of the moment. A loan without payroll is the solution for those people who can face unforeseen expenses but lack liquidity.

In recent years, we have seen on many occasions how financial institutions limited access to credit. This circumstance caused new financial operators to emerge. On the other hand, it does not escape us that not having a payroll has been used on many occasions as a pretext for not providing financing. We know this is not true, and at Spin Lender we want to offer an alternative.

For all these reasons, fast payroll-free mortgage loans are the best option for solving short-term problems. Another aspect that you have to consider is the concession. We are aware that in this type of operations, speed is essential to make payments or purchases viable. In less than a week you will have the money in your bank account.

Do not be fooled, today it is possible to obtain financing without the need for payrolls. At Spin Lender we take care of making it possible.

The ways to apply for mortgage loans without payroll

The ways to apply for mortgage loans without payroll

Fortunately, applying for non-payroll mortgage loans at Spin Lender is a snap. In fact, at Spin Lender we wanted to facilitate the possibilities and therefore we have a wide range of contact forms. We give you the reference of the main methods you can use:

  • Contact Form. The contact form is an interesting option if you want to receive information in advance. We will give you more details and we will tell you how we can help you. In addition, with the information you attach we can give you preliminary information about the possibilities of financing yourself.
  • Send an email. The email option is fine if you already know that this type of financial product interests you. In this way, we will contact to clarify details and speed up the procedures if there are possibilities of approving the operation.
  • WhatsApp. WhatsApp is an alternative in case you want to contact as quickly as possible, because the reception is practically instantaneous. We promise to call you to expand the information.
  • Phone call. Another possibility is that you call us. We will be happy to assist you at the moment and clarify all the doubts that arise. It has never been so easy to have all the information to request a mortgage loan without payroll.

Conditions for granting a mortgage loan without payroll

Conditions for granting a mortgage loan without payroll

Although our policy is to facilitate the granting of mortgage loans without payroll, there are a number of conditions that you have to meet in order for the operation to be approved. If you take these aspects into account, you will not get unpleasant surprises. We must say that the conditions we require at Spin Lender are not excessively rigorous, but they must all be met.

  • Coming of age. Obviously, only adults of legal residence in Spain will be able to access this possibility. Keep this question in mind so there are no problems and you don’t waste time. In this case, operations are limited just as financial entities do. In the same way, they cannot access this financing over the age of majority declared incapable.
  • Real estate assets. A sine qua non condition is that you have a real estate property with a value in no case less than 18,000-20,000 USD. Don’t forget that we only grant loans starting at 6,000 USD. As a general principle, the property must be free of charges. However, it must be said that in some cases financing is offered to pay off mortgages or foreclosures.
  • Fixed address and means of contact. It should not be forgotten that this type of operation is granted to people with a certain roots. Therefore, you must provide an address, telephone number, email and bank account. Not surprisingly, these data will be necessary to sign the operation with the company and before a notary. Of course, the documentation should be up to date so there are no problems.

Benefits of taking out mortgage loans without payroll

Benefits of taking out mortgage loans without payroll

Carrying out this type of operations is advantageous for the client who approves them for several reasons. For this reason, at Spin Lender we have become benchmarks in the financial sector. We will highlight the most important ones:

  1. Solution to specific problems. Having trouble paying a debt, penalty or paying off a mortgage ? This is an interesting option that solves specific problems for you. As the capital granted is never less than 6,000 USD, you will have a sufficient margin to return the money in comfortable terms. Keep this question in mind because this is the ideal type of financing if you have specific problems of draft. In this way, you will not expose yourself to negative consequences because you will be able to find a solution.
  2. Return adapted to your needs. If you want to return the money of your mortgage loan without payroll, without it being a great disorder, this is one of the best possibilities. It is not only that you have the money, but also that the return process is affordable. We offer you the option of a one-year return or up to 10. On the other hand, we can adapt the fees to the frequency that is best for you. All these aspects are important because they will make it easier for you to fulfill your obligations. At the end of the day, our interest is that you can return the loan so that we can continue lending.
  3. Financing for individuals and companies. One of the added values ‚Äč‚Äčthat we offer at Spin Lender is that our financing is open to individuals and companies. In this way, the possibilities multiply and you can use this resource for all kinds of incidents. The idea is that you can use this option as an exceptional form of financing when the traditional financial institutions do not give you the money. The only thing you have to take into account is that you can face the interests (9-12%). If you take note of this aspect, you can use this type of financing without problems.
  4. The operation is signed with your trusted notary. One of the advantages of these operations is that they subscribe with the trusted notary that you indicate. This way you will have an extra guarantee that the mortgage loan without payroll is signed in accordance with the law. Also, do not forget that we are authorized to operate by the Government of Spain. If you are looking for a company that offers alternative financing with guarantees, we are the reference operator.
  5. High borrowed amount. It is important to say that this is not a microcredit and that this operation is focused on people with certain capital needs. If you have to pay a specific letter or a university tuition, this is not going to be the type of financing you need. The advantage of offering more than 6,000 USD is precisely in the number of problems that can be solved.

Conclusion on mortgage olans without payrol

Payroll home loans are an option if you need quick liquidity and don’t have a fixed salary. At Spin Lender we can make everything easier for you and, if you have real estate, it will be easy for you to get the money. Today alternative financing is possible and you do not have to give up a single guarantee that you would have with traditional operators. We encourage you to get to know us better and contact us; We are sure that we can help you pay your debts.

Private loans without paying in advance.

Spin Lender operates within the alternative financing market through private lenders. We are specialized in private loans without paying in advance. Contact us without obligation if you cannot go to a bank to obtain financing and we will advise you on the private loan options without paying in advance that we have.

Private loans without paying in advance

Private loans without paying in advance

In none of the loans that we open in Spin Lender the client has to pay or advance any money, neither during the study phase nor during the opening phase.

Our operation ensures that the client receives their money in their checking account on average in 5 business days. Below we will describe how we manage to open lines of financing for individuals and companies without having to advance any money.

Spin Lender has a team relocated throughout the Spanish territory that responds to requests in less than 24 hours and if the request meets the requirements, we automatically move it to the study and opening phase.

In order for our clients to have access to private loans without paying in advance, they have to meet all the mandatory requirements.

Access requirements to our private loans without paying in advance

Access requirements to our private loans without paying in advance

Spin Lender has developed an operation that allows our applicants to not have to advance any expense in order to receive their loan. For this to be possible, all applications must meet two mandatory requirements.

Owning a property

Private unpaid loans from Spin Lender are home equity loans. This means that all loans are guaranteed by real estate.

At Spin Lender we accept any type of real estate as collateral: apartments, apartments, commercial premises, hotels, warehouses, garages.

We only need to carry out an independent appraisal to determine the value of the property and to be sent a simple note from the Property Registry where the name of the owner and the details of the property appear.

The appraised value will determine the maximum amount that we can deliver as a loan: a maximum of 30% of the appraised value.

Request a minimum of $ 20,000

This is the key that allows us to differentiate ourselves from our competition in a clear way. By making our private loans without paying in advance a minimum amount of $ 20,000, we ensure that all the expenses generated during the study and opening phases (independent professional fees, consultancies, agencies, taxes and fees) can be prorated together with the initial loan amount.

This minimum amount also allows us to keep the interest rate on our loans at a much lower percentage compared to our competition. All of our loans have an interest rate that ranges between 9% and 12%.

Total return flexibility

Spin Lender leaves it to the client to choose the terms and conditions for the return of their loan. The applicant can choose each and every one of the characteristics that make up the return of his loan:

  • You can choose the duration, from 1 to 10 years
  • You can choose the type of amortization, French or American
  • You can choose the recurrence of payments: monthly, quarterly or semi-annually
  • If your financial profile allows it, we can grant you a grace period
  • In addition, we make available to the applicant a personal advisor who will answer any questions you have throughout the duration of the loan.

This great flexibility and careful customer service allows us to proudly state that since we started our activity we have never had to execute any guarantee due to non-payment. All of our unpaid private loans have been successfully repaid.

How Much Loan Can I Attract According To My Salary?

How much credit can I take? The answer to the question will be tried to be answered in this article for those who want to take loans from banks. Today, as a result of the increasing needs, bank credit cards and loans are frequently used methods in meeting the urgent cash needs.

How to Identify the Most Appropriate Loan?

How to Identify the Most Appropriate Loan?

For those who want to take out a loan, the most appropriate loan calculation method is the calculation made by considering the interest rates, maturity options, file costs and annual cost rates offered by banks. If the credit upper limit is being researched , credit calculation should be made according to the payment power.

Finding the most suitable loan does not show what amount of loan can be withdrawn. The calculation of the maximum loan amount that can be withdrawn can be done directly from the bank branches. The situation encountered during the loan application from the bank will probably be different with the calculations to be made on the banks’ websites. Because there are several factors that affect the amount of credit that can be withdrawn.

Which Factors Affect the Amount to be Withdrawn?

Which Factors Affect the Amount to be Withdrawn?

The amount that can be withdrawn from banks may vary depending on the following factors;

  • Monthly income: In response to the question of how much credit can I take according to my salary; Usually, banks calculate monthly installments and how much their customers can pay by looking at monthly income. As a rule, installments of loan repayments for most banks cannot exceed half of the household’s total income. Banks require regular income for credit. All banks require a document such as official income document or payslip.
  • Credit Rating: It is the most important factor for the banks to approve the requested loans and the amount of loans to be given. All financial transactions made through banks are recorded. Credit card and credit transactions are also recorded in the Credit Registry Bureau . When credit debts are paid late or not, credit ratings decrease. The higher the credit score, the easier it is to get credit. With , a common pool, all banks can see the records and credit ratings of the last 5 years. Those who have a low credit rating can give credit in return for less amount and more collateral.
  • Credit Registry: Those who delay or not pay their bank loan debts are taken into legal follow-up after a certain period of time. Those who do not cover their debts are registered in the class of those with bad credit records called black lists. In order to get credit from banks, it must not be blacklisted in the last five years. If it is blacklisted, the bank does not give credit or requests additional guarantees such as guarantor and mortgage, since its credit rating is also low.

To summarize, unpaid credit and invoice debts negatively affect the low income, low credit rating and bad credit upper limit.

How Much Loan Can You Withdraw?

How Much Loan Can You Withdraw?

For someone who says how much credit can I get according to my income, it depends on the factors affecting the loan mentioned above and depending on the loan type. Banks can allow monthly installments up to 70% of the salary of the applicant. This rate is generally close to 50%. In order to give a high credit limit, the credit rating of the applicant must be very high. Some banks can fulfill their request to increase the credit limit with additional guarantees, such as guarantor or mortgage, depending on their credit rating.

How Much Needs Loan Can I Get?

How Much Needs Loan Can I Get?

To summarize, after calculating the maximum monthly installment amount that can be paid according to the income, the number of maturity will be multiplied according to the loan type. For example; up to 60 months in consumer loans, 60 months in vehicle loans, 120 months in housing loans. The guarantor or mortgage value that will be assured in not paying the loan to the bank is added to the last issue and the estimated credit limit is revealed.

How to buy currency cheaply for loan repayment?

As a reminder, repayment of the liability directly in the currency of the loan has enabled people to borrow in so-called foreign currencies. Anti -read Act of July 29, 2011.

This Act also deprived banks of the possibility of charging any additional costs in this respect. This also applies to the annexes to the loan agreement necessary to pay installments in the currency, the establishment of which is currently absolutely free.

Borrowers have thus gained the opportunity to buy cheaper currency outside the bank, which can contribute to achieving considerable savings …

Where to get the currency?


Therefore, currency purchases can be made wherever the exchange rate is more favorable than the one set by the bank in which we have the loan.

One possible solution is to buy francs or euros at another bank. In this case, however, no significant differences should be expected, as currency prices in individual institutions are similar.

Another option will be to visit one or more exchange offices, depending on the availability of the currency we are interested in – shortages of the most popular currencies that occur most often around the 1st and 10th of the month, i.e. the most commonly used date of loan installments payment.

The second major disadvantage of this solution is the time consumption. We will devote much less time to buying foreign exchange in online exchange offices. They have recently enjoyed great popularity, and this is probably due to the convenience associated with their use and very favorable exchange rates.

How much cheaper?


The exchange rates of the stationary bureau de change, Good Finance, Good Lender, and three online bureaux de change: and apparently do not differ much.

The difference in the amount of the exchange rate is only visible after multiplying it by the required number of foreign exchange units. Simulation of the cost of purchasing 400 currency units showed that the difference between the most expensive and the cheapest purchase is:

  • USD 36.32 for the US dollar,
  • 47.44 USD for the euro,
  • USD 38.60 for the Swiss franc,
  • USD 62.68 for one pound sterling.

How much money we can save


Apparently not much. In the case of the dollar, we will save the least, 36.32 USD, and the most – 62.68 USD – when you buy 400 pounds.

However, it is enough to multiply these amounts by 12 installments a year. We will then get USD 435.84 for the dollar and USD 752.16 for the pound, respectively. This clearly shows how much money we can save during the 20 or 30 years of the loan period.

We take a cash loan at Good Finance, i.e. a man comes to the facility

We assume – I think correctly – that what annoys us can piss off anyone. We offer you TIPS and solutions that you can use to simplify or shorten the waiting time for the offer. We advise on how to approach the subject wisely. The first thing to do is a cash loan from Good Finance.

We decided to start with Good Finance because you are very eager to choose this offer. That is why our editorial colleague sent the application using the E-Credit comparison tool – in exactly the same way as you do. Of course, we did not inform Good Finance that we would test them.

Credit at Good Finance – I’m sending the application … and what next?

Credit at Good Finance - I

The notification was forwarded to the bank on Monday, around 1:00 PM, and a bank helpline called back a quarter of an hour later.

  • consent for verification in Credit Checker (verification was carried out during the interview and the report was sent to an advisor in the branch);
  • consent to verification in the BIG databases (the bank has sent queries to the databases);
  • source of earning income (in the case of a sole proprietorship, company data was needed, including NIP and REGON, but the consultant checked them himself in CEIDG);
  • data from the ID card (ID number and date of issue – all you need to know is the data because the document was only verified at the branch);
  • the amount of income (it was enough for E-Money to inform the consultant about the amount of his earnings);
  • monthly expenses (the bank asked about E-Money’s expenses, not the entire household. Declaration was enough);
  • no arrears with ZUS, US or other institutions;
  • is E-Money not bankrupt;
  • liabilities (including, inter alia, the date of conclusion and repayment of the housing loan – a month and a year were sufficient);
  • consent to grant access to electronic banking (refusal);
  • consent to telephone authorization of orders (refusal);
  • consent to marketing the bank and other entities (refusal).

Interview with a Good Finance consultant

Interview with a Good Finance consultant

The consultant our friend came across was very competent – a big plus. He knew the offer and the process well , he spoke freely. He did not suggest additional products and did not pressure him to take a loan, but he used his interest and understood the intention well – he led E-Money through the entire process of applying for a loan at Good Finance. After the initial credit decision, he chose the nearest branch and arranged for our tester to meet with an advisor.

Unfortunately, there were some minor technical problems – you apologized for the long time of waiting for the data to be loaded into the banking system. Ultimately, however, after 40 minutes on the phone, E-Money’s request was directed to the branch.

Parameters of the offer selected by E-Money (confirmed by the bank’s hotline consultant)

  • Loan amount requested: USD 15,000
  • Loan period: 24 months
  • Interest rate on the E-Credit website: 8.99%
  • Bank commission: 4.99%
  • APRC: 15.11%
  • Insurance: not required
  • Installment amount: USD 721.26
  • Credit cost: USD 17 310

I received information from a consultant to talk about a price offer in a branch, because a new customer may receive better conditions than those presented on the portal. I was asked to bring my ID and bank statement confirming the receipts for the period of 6 months.

Interestingly – we sent as many as four contact requests to Good Finance, just a few days apart. All through the E-Credit comparison engine . These reports were handled by the bank helpline in very different ways and only in one case did the consultant conduct a detailed analysis – check the offer, verify the client in Credit Checker and collect the data necessary to process the application.

A visit to the Good Finance facility


Our colleague was directed to the Wroclaw branch of Good Finance. After the conversation, he received a message confirming the date and location.

After 50 minutes from the end of the conversation with the consultant, E-Money received a phone call from the adviser. The lady confirmed the meeting once again and asked to bring her an ID card. Unfortunately, she did not yet know the course of the conversation or the arrangements with the hotline, therefore, to facilitate (and speed up the process) E-Money informed her that he would bring a personal account statement with him to the meeting. The adviser asked for 3 months (although the helpline had previously informed that a certificate for 6 months would be required).

At the beginning of the meeting in the facility, the lady asked our tester for proof and checked his application in the system. She started by updating marketing consents, which were marked with “no” in the system.