Did you make a debt and think you will not have a way to finish it? Have you taken payday loans and still need more money? Do you want to travel or buy a new asset and need a force? See our tips below to restructure your payday loan and thus have more financial flexibility.
What is payday loan renegotiation?
The renegotiation is nothing more than the bank settle its debit balance in the current contract that will be renegotiated and recycle the old contract to another with new terms of payments signed between both parties.
In addition, generally, in the renegotiations the parcels remain the same. However, the great differential is with the extension of the discharge period together with the reduction of the interest rate. This is one of the options for those who need a certain amount and do not want to have an increase in the discount that is already being made on their payroll.
Therefore, the two factors above coupled with the fact that there is a lower debt balance due to early settlement makes credit renegotiation a great opportunity and option for payday loans.
Why is renegotiation of the payday loan worth it?
Renegotiation proves to be a great way to get value without weighing down or decreasing the amount you get on your paycheck. It is a great choice for those who have already paid off a portion of their loan, and for some reason, are in need of additional value. Thus, the remaining installments are settled and a new loan agreement entered into the same bank, without changing the value of the installments.
Example: The beneficiary has a payroll discount with installments of R $ 300.00 per month. The total number of parcels is 72, but 36 parcels have already been paid for this loan. What can I do? We were able to renegotiate this debt from your payday loan by redoing your contract in 72 months again, that is by adding another 36 installments and thereby releasing the amount of the difference to you, also called “change.”
So, in refinancing your loan, the more installments you paid, the higher the amount released. The amounts released will always be proportional to the number of installments that have already been deducted from your payday loan.
The idea is simple, the more you have paid, the more credit will be released. (I.e.
How soon do I get the “change” from the renegotiation?
The amount related to renegotiation of installments of your payday loan is released to your account within 2 to 5 business days. This term is an average, and may vary depending on the bank * and the period of Social Security.
* Some banks have clearance rules, as well as percentage paid, minimum amount of change and age.
I’m negative, can I still renegotiate my paycheck credit?
Yeah, no problem at all. In this type of renegotiation of your payroll deductible loan, the bank usually does not consult.
The missing question: who are those who can renegotiate the payday loan?
Being very straight to the question: retirees, pensioners and public servants. To do this loan refinancing operation, you can look for a bank, or an authorized correspondent, and if you wish to hire or just simulate online, we are here to help.
The value of the parcels will generally remain the same, but depending on the number of parcels paid, there is also the possibility of achieving a MINOR INTEREST RATE and thus REDUCE THE VALUE of the parcel. However, it is necessary to take into account the current bank contracted for the loan, since each financial institution has particularity in the domestic legislation.