If you still don't know how consolidated credit works, today is your lucky day. Here we will see everything about this loan option and whether it is worth it.

In short, this is a special credit format and can save you money. However, of course, if the necessary care is taken at the time of hiring. In other words, if you pay attention, it is possible to reduce the amount of debt by up to 60%!

How this happens and other relevant details can be seen below. So keep reading and see everything about consolidated credit, advantages and disadvantages, and find out if it’s for you!

Firstly, it is important to clarify that this is not a type of credit that will grant you money. In other words, when hiring you, the bank does not transfer money to your account. But how so?

This is a type of credit dedicated to reducing installments on loans already made and still being paid. For example, consider that you have two personal credits whose installments you are still paying. However, their value is too heavy on your budget.

In this case, consolidated credit can be of great help. After all, it transforms the two debts from two different loans into one. In other words, instead of two monthly installments, you pay just one. After all, there is debt consolidation.

By consolidating the installments, then, the credit is able to reduce the value they had before, when added together. Therefore, it is a way to free up the budget and make money left over.

You don't stop paying your debts, you just see their value decrease. In this way, it is possible to save or direct the amounts previously spent on loans to other purposes.

So check out the main advantages of credit and how it works:

On the other hand, the following are disadvantages of consolidated credit:

In short, doing so is interesting whenever you realize that the loan installments have become so heavy that it is impossible to maintain them without compromising other accounts and needs.

Therefore, it is necessary to look for a bank that can help with consolidation. Before hiring, however, analyze the conditions, as well as any restrictions that may accompany the hiring.

Furthermore, it is necessary to bear in mind that taking out consolidated credit requires financial organization. Otherwise, it is possible that the new installment (smaller than the previous and consolidated installments) will soon also become impractical.

Therefore, it is necessary to organize the budget and provide a clear destination for the amount left over after consolidation. Only in this way is it possible to take back control of your financial life. Equally, avoid seeking more loans.

Finally, now that you know how consolidated credit works, check out some options available in Portugal. So, see which ones might be perfect for you!

One of the consolidated credit options is Mr Finan. This option works simply and offers online hiring. This way, it is possible to analyze conditions and hire them without leaving home.

Mr Finan consolidated credit promises savings of up to 60% in the value of the installments that will be consolidated. Therefore, it is possible to make some good money! Find out more about the option below!

On the other hand, Financial Liberty also has consolidated credit that works online, quickly and very conveniently for customers. Furthermore, here, again, it is possible to save up to 60% of the value of the installments. Find out more in the table below!

Continuing with the consolidated credit options for you, we have Kreditiweb. It, like Mr Finan and Financial Liberty, also works with consolidation with savings of up to 60% in the value of the installments.

Furthermore, it works online and you don't have to leave your house to hire it. In short, it takes up to 120 months to pay off the amount. Check out more about this alternative in the table below!

Finally, Deudai closes our list of consolidated credit options that work in Portugal! Unlike the previous alternatives, however, this does not indicate a value that can be saved. However, it is possible to simulate online and find out right away how much you can save. So, access the text below the table and see how this option works!