Debt Refinancing – Refinance Consumer Debt Online

Debt refinancing

Do you have a lot of expensive debts that cost you a lot of money month after month? This is the situation for many Danes, where many have indebted themselves to the financial crisis.

There is a way out that can save you a lot of money. Refinance your consumer debt online and get a lower interest rate, while you collect your loans from one company. These are the benefits of debt refinancing. More about this.


You can refinance consumer debt online

Refinancing is not as widespread in Denmark as it should otherwise be, because the benefits are in line. You get lower costs as a customer and a greater financial overview, by getting your consumer loans collected at one company.

One of the reasons for the lack of online coverage is that it is only offered by very few providers. Bank Norwegian and Santander Consumer Bank are some of the few.


That is how it works

The refinancing of debt works by, for example, you. raises a loan of DKK 70,000 It is your existing consumer debt that determines which loan amount you should choose.

If you have debt of DKK 70,000, you can apply for a collective loan of that magnitude. In the application itself you may be asked if the loan is to be used for repayment of other debt. Here you have to check out / say YES. That’s the whole point. You can see how at the provider Bank Norwegian, in the picture below.

The larger loan you make is used to pay off the expensive mortgages and other debts you may have. You will now have the debt with one provider and at a significantly lower interest rate. Basically, it reminds a lot about making ordinary consumer loans, but where the money is just used to redeem existing debt.

Refinancing at Bank Norwegian

Refinancing at Bank Norwegian.


Get rid of your expensive debt by refinancing

It is annoying to run around with an expensive debt, especially if you have a hard time getting rid of it. It has most Danes, as only a little can be deducted every month.

Debt refinancing is a perfect solution to get it settled and secured yourself, significantly lower costs. It is no magic number, because you are going to have the same debt, it is just significantly cheaper – and then you have a better financial overview, as it is in one place.


Can save you a lot of money

There is no doubt that refinancing can save you a lot of money. Let’s just continue the example, with a debt of $ 70,000. Consider how big a difference it is whether the interest rate is 9% or 19%. In addition, the fees you can be charged along the way.

There are a lot of money saved, on a monthly and annual basis. It is not without reason that refinancing has become very widespread after the financial crisis, where many Danes have got expensive debt they cannot get paid out.

We can only recommend that you apply to both Bank Norwegian and Santander Consumer Bank in our overview, to get started. It is completely non-committal, but will most likely save you a lot of money. Simply using this smart approach.

Both online banks are among the most affordable on the loan market right now and this confirms their low interest rates.

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