It is not impossible to get a consolidated loan or consolidated loan at your pension. However, we must remember that not every bank or non-bank consolidated loan company will be able to receive money. What should we remember then?
consolidated loans are a quick and convenient way to improve your budget. Thanks to them, we are able to obtain funds for sudden expenses, for example for the purchase of a broken refrigerator or for a trip. A cash consolidated loan can be spent for any purpose, that’s why it’s up to us what we’ll finance from the funds we receive.
Pensioners also use various cash consolidated loans that allow them to obtain funds for their expenses. However, whether and how much money we receive depends on a number of factors, which also vary depending on the lender.
Can any pensioner get a consolidated loan?
Obtaining a consolidated loan is conditioned by many factors. First of all, we must have adequate creditworthiness – without it, we will not get the funds. In the case of pensioners, the creditworthiness is calculated on the basis of the income from the annuity, but it is not the only factor the lender pays attention to.
This does not mean, of course, that we will not get any consolidated loans, but nevertheless, we have to face significantly higher costs or we must provide additional security.
How much money can you borrow?
Due to the fact that pensioners usually have relatively low pensions, this also affects the amount of the consolidated loan. Depending on the income we have, this is an average amount of about PLN 2,000 to PLN 20,000. Of course, in some banks and non-banking companies we will be able to borrow more, but it depends on an individual assessment of our creditworthiness.
Most often, the consolidated loan company or the bank wants to confirm the income we achieve – we must then present a document confirming the collection of the pension or bank statement. With smaller amounts, however, it is not always necessary – all you need to do is enter the source and the amount of the benefit you get in the application.
Borrow only as much as you can pay back!
If you also want to opt for a consolidated loan for the pensioner, you must always choose a sum that you will be able to repay. That is why the best solution will be an installment consolidated loan, because then the debt can be spread into installments easier to repay. The longer the repayment period, the lower the installment, which is why we can deal with debt settlement even if we achieve low income.
In summary, cash consolidated loans are also available to pensioners. However, we must remember that we will not always get a high sum.
Also, always be careful not to borrow too much – the consolidated loan is to be easy to pay!