Debt consolidation: how it works, costs and simulation

Do too many installments of loans pay you problems with payments and risk becoming insolvent? Know that there is a simple way to extinguish them at once. This is the Astro finance debt consolidation and liquidity loan that you can request directly online. Thanks to the long repayment period, you will have only one small monthly payment to pay. Interesting isn’t it?

How Astro finance debt consolidation works

How Astro finance debt consolidation works

Rata Unica is the loan for consolidation of Astro finance’s debts whose main purpose is: to close all loans in progress through a new loan whose maximum duration can reach 108 months. Thanks to the long repayment period possible, the monthly installments will be sustainable, thus avoiding the risk of becoming insolvent and therefore bad payers.

Not only that, if you have a sufficiently high income you can also request additional liquidity to be allocated for other projects. However, it is essential that the monthly installment remains within sustainable limits, otherwise the purpose of the debt consolidation loan would disappear.

What are the required requirements

What are the required requirements

Being a refinancing, it is clear that the applicant is of age, therefore we do not dwell on this point. In this sense, the only requirement is to be under 75 years old.

You then need to have an active checking account. Also in this case, having other active loans, it is assumed that you have an account. In any case, another can be opened if necessary, before submitting the request. Finally, having a demonstrable income is of fundamental importance.

Requested documents

Requested documents

First, to apply for a loan consolidation of Astro finance debts, need to have an identity document valid. If you are Italian the following documents are OK: passport, driving license, gun license and the ministerial card. If you are a foreigner or a non-EU citizen, you can safely use the residence document.

In the event that the residence does not correspond to the address on the identity document, a document certifying the residence must be attached. To this end, you can use the bills paid by households or even the vehicle or moped vehicle registration document.

To be able to apply for a loan, employees must submit a copy of the latest pay slips.

Retirees, on the other hand, must show the pension slip and the Obis or CU model. The self-employed and the freelancers can use the single model and the F24 with attached payment receipt.

How to request Astro finance debt consolidation

How to request Astro finance debt consolidation

Astro finance debt consolidation loan is a paperless and online loan. This means that the loan can be requested online without having to go to the branch.

How to apply for a loan online

To submit your online financing request go to the Single Installment Loan page (see image below), enter the amount you need. Then click – or tap – to calculate the loan to find out all the alternatives offered by Astro finance, divided according to the amount of the installment and the duration of the loan.

Starting procedure for the online request for a Astro finance debt consolidation loan.

Remember that the amount to be entered must include the amount of money you need to pay off the debts you’ve contracted but also the one needed to finance your new project.

Now you need to decide whether to insure the loan, so if you want it, remember to tick the insurance box. The cost of the policy is thus included in the total of the monthly installment.

Tip: before signing the contract, read carefully what the insurance covers. Usually these policies protect the financial institution more than those who contract the debt. It goes without saying that insurance coverage facilitates the approval of the practice.

At that point, when you have chosen the solution that best suits you, you can have the practice started directly online. The evaluation and approval times for Astro finance debt consolidation are very short : once you have received confirmation from the agency, you can sign the contract via the Internet thanks to the Digital Signature system.

How to apply for a loan via a toll-free number

You can still choose to apply for a loan following a more traditional procedure. The toll-free number, available Monday to Friday from 9am to 8pm and Saturday from 9am to 1pm, puts you in touch with the Astro finance switchboard dedicated to financing requests.

How to apply for a loan through local agencies

You can also open the file in any agency on the Italian territory. If you don’t know where to find one, you can consult the section Where we are and find the branch nearest you.

To read: loan for consolidation of Fiditalia debts

How accreditation takes place

How accreditation takes place

Astro finance credits the loan by bank transfer directly to your personal current account. The same is then used for the repayment of monthly installments by SEPA direct debit.

Astro finance debt consolidation loan simulation

Astro finance debt consolidation loan simulation

Required amount Duration Monthly installment % TAN fixed Fixed% APR
$ 30,000 108 months 393.30 USD 8.17% 8.48%
$ 30,000 96 months 426.70 USD 8.17% 8.48%
$ 30,000 84 months 470.20 USD 8.17% 8.48%
$ 30,000 78 months 497.10 USD 8.17% 8.48%
$ 30,000 72 months 528.50 USD 8.17% 8.48%
$ 30,000 66 months 565.90 USD 8.17% 8.48%
$ 30,000 60 months 596.50 USD 7.17% 7.41%
$ 30,000 54 months 651.70 USD 7.17% 7.41%
$ 30,000 48 months 720.80 USD 7.17% 7.41%
$ 30,000 42 months 809.80 USD 7.17% 7.41%
$ 30,000 36 months 928.70 USD 7.17% 7.41%
$ 30,000 30 months 1,095.30 USD 7.17% 7.41%
$ 30,000 24 months 1,345.50 USD 7.17% 7.41%

In the above simulation, installments cost and interest are listed for a $ 30,000 loan without insurance policy. As you can see, the alternatives offered by the agency are different. They range from a minimum installment of $ 393.30 to a maximum installment of $ 1,345.50.

Interest rates also vary. In fact, a fixed TAN of 8.17% and a fixed APR of 8.48% are applied to longer loans. For shorter loans, on the other hand, there is a fixed TAN of 7.17% and a fixed APR of 7.41%.

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