Debt Consolidation Loan
- Have you accumulated several debts?
- Are you paying back 2, 3 or 4 installments every month?
- Different rates, different durations… are you lost in all the numbers?
- Is there a way to pay less?
At cmk, we can combine all your credits into one single figure, easing the burden on your budget and increasing your purchasing power.
For example, you currently reimburse every month as follows:
| EXISTING LOAN | DURATION | MONTHLY INSTALLMENT | OUTSTANDING BALANCE |
| Motorbike loan | 24 months | $100 | $1,300 |
| Personal loan | 36 months | $170 | $2,200 |
| Store credit | 12 months | $78 | $500 |
| TOTAL | $348 | $4,000 | |
Allow cmk to consolidate your loans and redesign your payment plan:
| NEW COMBINED CREDIT (1) | DURATION | MONTHLY INSTALLMENT | MONTHLY INSTALLMENT REDUCED BY |
| Existing loans: $4,000 New loan: $1,000 = $5,000 | 60 months | $119.55 | $228.45 |
Not only will you save $228.45 per month, you will also have an extra $1,000 cash at your disposal.
Benefits:
- Simple
- Saves money
- All your existing loans will be repaid by cmk
(1) Subject to approval by cmk, interest rate can be up to 20% of the repurchased loan from other lenders, according to the quality of the application and to the guarantees. For a credit of $5,000 and a duration of 60 months, the monthly installment could be $119.55 (or less) and the total cost of credit is $2,373.35 if the interest is 1% per month (including interest + monthly administrative fee + processing fees – life guarantee fund).