Loan consolidation


“Loan consolidation” term that is not suitable, it is rather a credit consolidation operation.

Credit consolidation: no solution

Credit consolidation: no solution

Different advertising media use the term “consolidation” of credit, thus letting households believe that it is a credit transaction to redevelop its debts. However, this banking operation does not exist. Instead, we encourage you to use the term “credit pool” which is an existing banking operation and is recognized by the law in terms of consumer credit and mortgage loan.

Consolidate? No, regroup!

Credit consolidation is a banking operation that offers a household the opportunity to buy back their loans with a view to proposing a new loan agreement. This new credit agreement includes new repayment terms: extended duration, new rate and reduced monthly payment. The operation may result in an increase in the total cost of the credit. This consolidation may be of a nature to consumption or real estate, all depends on the share of outstanding property to be bought back by the credit institution.

Free simulation

Free simulation

As part of a loan consolidation operation, Responis offers you free evaluation of the feasibility of this project on your finances. Responis is a non-exclusive agent in banking and payment services in loan consolidation offers. Responis has mandates with several credit institutions, which will allow you to obtain one to several offers of consolidation of your loans. Just fill out the online form and validate it. You will quickly receive the result of the study free of charge and without commitment.

You can use a personal loan to pay off your other outstanding loans. Through a debt consolidation loan, you can make your finances more manageable by rolling all your credit card balances and any other pre-existing debt into one big personal loan. It’s one of the best reasons to get a personal loan, as it allows you to refinance your old loans into one with more affordable terms.

These productive use of personal loans can help you achieve your financial goals and stay in control of your finances. With a personal loan from a reputable bank in the Philippines, you get a fixed repayment term and fixed interest rate, so budgeting every month is simple and seamless. Applying for a personal loan is easy. If you’re employed or self-employed for at least two years with a minimum required income, you’re qualified. Before sending an application, make sure that you compare the best personal loans offered in the country.

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