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Consolidation of loans – How to achieve this

We are a family like any other. My husband works and feeds my family, I take care of our two little kids. All in all, our common domestic income is slightly above 40,000 per month. We recently moved to a new apartment and my husband bought a motorcycle in summer to commute to the cottage. Both of our family budgets were quite heavy and we had to borrow some things like new furniture, various accessories, as well as the seaside holidays we promised our children from Christmas.

I squeezed the credit card a bit, we used an overdraft on the bank account and my husband took two loans.

saving money

To sum up, we now have debts of 130,000 dollars and we should pay around 4,500 dollars per month. Which surprised me quite unpleasantly. Fortunately, I found a solution that we managed to reduce the monthly installments and save on fees – Optimal Loan. “Another loan? That’s exactly what my husband’s reaction was when I told him about my idea. So the numbers came…

Monthly installment Credit Product Amount drawn It remains to be repaid
2 160 USD Credit card 30 000 USD 30 000 USD
1 213 USD Motorcycle loan 50 000 USD 45 000 USD
982 USD Furniture loan 40 000 USD 35 000 USD
149 USD Interest on authorized overdraft USD 10,000 USD 10,000
4 504 USD Sum 130 000 USD 120 000 USD

“Darling, however, if we use the Optimal Loan with a maturity of 6 years, we will only pay USD 2,251 instead of USD 4,504. Monthly, we will save USD 2,253 in installment ”, was my answer.

The numbers were clear.

saving money

Other arguments as to why this solution might be ideal for us were the possibility of obtaining a loan without collateral, up to USD 2,500,000 by the way, and also the possibility of extending the loan maturity up to 10 years, if it were worst. Moreover, maintaining a credit account is free, as well as granting a loan.

There was nothing to deal with. My husband came to the bank and I could see the pictures of our vacation without any compromise…

Representative example

saving cash

Optimal loan without collateral, loan amount 120 000 USD, maturity 6 years, interest rate from 9.9% pa Then APR is 10.4%, 1st installment 627 USD, 2. – 71. installment 2 240 USD, 72. installment 2 236 USD, total amount payable by consumer 159 663 USD, fee for arranging credit 0 USD, monthly fee for credit account maintenance 0 USD, monthly fee for current account Start account 0 USD, monthly fee for electronic statement 0 USD. Assuming signing the contract as of 1 December 2013 and repaying the loan on the 20th day of the month.


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