Single debt repayment – Debt Consolidation
Single loan repayment, or staggered debt repayment, is a way for you to gradually pay off quick loans taken out with different lenders in a single monthly payment. As reported by Viena Business, in 2013, 250 people applied for the phased repayment of fast loans. This service is available only to members of the Latvia Group of Alternative Financial Services (LAGPA), which, however, represent the majority of markets. It is also interesting that 141 people used the opportunity to block themselves from accessing fast credit, thus denying themselves access to the services provided by fast credit providers. In this article, let’s take a quick look at how a single quick credit repayment
How is a single quick loan repayment done?
Only one of the creditors who are LAGPA members can repay a single quick loan. Before applying for debt repayment, check that all the lenders you have borrowed are members of the association. Once you have done so, you can complete the application available on the website. The application form is simple to complete and you will be able to send it to the association’s office or e-mail the application form. A single repayment of quick loans means that you will be able to pay off your debt with multiple lenders at an acceptable monthly payment.
Interestingly, borrowing with multiple lenders should no longer be possible. As LAGPA exchanges data with one another, it is likely that the number of loans repaid in this way will only decrease – perhaps in addition to the 250 borrowers making such payments, others have already returned loans taken from several lenders. You can also block access to the fast credit service on the homepage by filling out the “LOAN APPLICATION FORM” section of the LAGPA client section.
Best way to pay off old debts
One-stop debt repayment is one of the best ways to pay off your old debts – lenders will be aware that you are willing to repay your credit on a voluntary basis and your monthly payment will be better and more in line with your ability to pay. It should be noted that the hat must be removed in front of the LAGPA, as this can also be seen as a subtle gesture to show that members of the association are interested in human relations with their clients. We want to borrow responsibly so you never have to use such services.