Credit consolidation – Primelening

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Here you will find everything you need to know about the credit consolidation that Primelening offers.

Primelening credit consolidation

How does Primelening credit consolidation work? With the Primelening collaboration platform you can obtain credit repayment without the intervention of the banks. You can bring together all your different consumer loans by taking out a group of loans indirectly financed by the Primelening community of investors.

How much can I request for a loan repayment?

With Primelening you can conclude a consolidation contract from €1,250 to €170,000. These amounts make it possible to cover most cases that require a consolidation of existing loans.

What credits are accepted for a Primelening credit consolidation?

With Primelening you can consolidate all your consumer loans. For example, you can include: A work loan, a car loan, a personal loan, a credit facility, a student loan, etc.

What are the Primelening credit consolidation rates?

When you submit a credit consolidation request, Primelening offers you a personalized rate, taking into account the loans you want to consolidate and your personal situation. If your application is accepted, you will immediately receive the best possible rate for your credit.

How do you apply for a credit consolidation with Primelening?

The Primelening application process for loan repayment takes place entirely online.

After simulating your loan with the free tool offered above, you can submit your application online with one click.

It is analyzed immediately and you basically get an initial response. So you know immediately whether your application has been accepted in advance or not.

If your file has been accepted in advance, we will send you a personalized proposal that will give you an accurate picture of the total cost of your credit, the monthly payments and the interest rate.

You must then provide the supporting documents requested from you to finally validate your application.

Once your file is accepted, supporting documents are provided and the contract is signed, your loan consolidation will officially begin and you will begin paying back your new monthly payment 30 days later. Primelening takes care of the implementation of the procedures to close your old loans.

What is a credit consolidation?

Credit consolidation consists of grouping several loans into one. So you only have to repay one monthly amount. When consolidating loans, monthly payments are generally reduced because the term of the new loan is longer. This will allow you to rebalance your budget and avoid a potential situation of over-indebtedness. Credit consolidation and repayment: what’s the difference? The term “credit repayment” is often used as a synonym for credit consolidation. However, these two terms refer to different loans: Credit consolidation allows you to consolidate multiple loans into one. The monthly payments are generally reduced, but the term is extended. The credit buyout only concerns one loan that is still mortgaged. This loan is repurchased to renegotiate the interest rate, duration or amount. To avoid confusion, it is often referred to as “mortgage loan purchasing.”

Credit consolidation: how does it work?

During a loan consolidation, your lender buys back your current loans and opens a new loan. Your old loans have been closed and you only have to repay the new loan. Before signing your credit buyback, you have the opportunity to renegotiate certain terms, such as: The interest rate, The repayment period, The amount of monthly payments. If your financial situation allows it, you can also ask to include an additional amount in your credit consolidation to finance a new project.

Who can apply for credit consolidation?

In order to apply for a loan consolidation, the borrower must: Be at least 18 years old, Live in Europe, Have sufficient income to repay the loan, Make sure you are not on the blacklist of your country

How to obtain a credit consolidation?

The steps you need to follow to perform a credit redemption are as follows: Choose the loans you want to consolidate Simulate the repayment of your loan to choose your repayment term Submit your request to a lender Provide your supporting documents Sign your contract Start repaying