Debt Consolidation Loan
Consolidate Your Personal Debts into One Manageable Payment
Only 9.25% (9.65%).
Without a doubt, one key advantage of consolidating your debt into one loan is the relief that it brings. Being chased for repayments from different creditors can take a toll and can be very difficult to deal with. For some, it's a delicate balancing act. With a debt consolidation loan from Altura Credit Union Ltd., you can take back control of your finances.
Some examples of debts that you may want to consolidate are:
- Credit Cards
- Holiday Loans, Car loans etc.
- Furniture / Electricals Finance
- Moneylender Loans- Bank Overdrafts
- Car Insurance
- Car Finance
Example: If you took out a loan of €15,000 over 5 years, the repayment would be €313.20 Monthly. The cost of the loan would be €3,790.85. The total amount repaid would be €18,790.85. The interest rate for this loan is 9.25% (9.65%). APR= Annual Percentage Rate
You can repay early, or over pay without penalty - meaning you can reduce the interest paid.
What will I need to supply when applying for the loan?
- Open Banking consent for current account analysis and income verification. Your fastest and easiest option.
- Your Photo ID & Proof of Address May Need to Be Updated (We will advise you on this)
If you do not choose the open banking option
- 6 Months Current Account Statements
- 3 recent payslips/social welfare receipts need to be provided.
This may delay your application, as you need to gather the documents and we need to manually review them.
Open banking, is a much easier option for you, and speeds up the decision making process -more information here.
*Warning: If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating, which may limit your ability to access credit in the future. Warning: This new loan may take longer to pay off than your previous loans. This means you may pay more than if you paid over a shorter term. APR= Annual Percentage Rate