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Loan for Debt Consolidation

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Loan for Debt Consolidation

 

Online Personal Loan for Debt Consolidation made easy

 

What is Debt Consolidation?

Debt consolidation means taking out a new personal loan to pay off a number of existing high interest loans and consumer debts, generally unsecured oneswith just one monthly payment rather than several. Usually with more favorable payoff terms a lower interest rate, lower monthly payment or both. Consumers can use debt consolidation as a tool to repay debt with several banks such as student loan debt, personal loan debt, credit card debt and other types of debt.

OMLP2Poffer unsecured debt consolidation with lesser rate of interest than usual but higher than secured loan. The benefit of unsecured debt consolidation is that your collateral is not at risk.

To get loan for debt consolidation assess your complete financial situation, your income, current debt burden, other expenses etc. and suggest if debt consolidation is a good option for you.

 

Who is eligible for Debt Consolidation Loan?

  • The borrower must be an Indian citizen and resident of India
  • Should be above 18 years of age and capable of entering into a legal contract as per the Indian Contract Act.
  • Needs to have a valid Bank Account, Aadhaar Card and a valid PAN number.
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    How much amount?

    • You can get quick loan online for any value between Rs. 25,000/- to Rs. 10, 00,000/- (in multiples of Rs. 5,000)

     

    Documents Required for Debt Consolidation

    • PAN Card
    • Aadhaar Card
    • Address Proof– valid Aadhaar Card, Driving License or Voter ID, LPG Bill
    • Passport size photograph
    • Last three months’ salary slips (for salaried employees)
    • Last three months statements of bank account into which salary is credited (for salaried employees) and twelve month’s
    • statements of bank account for the self-employed and businesses
    • Income Tax Returns (ITR)/Form 16 for last two years

     

    Apply for Debt Consolidation on www.omlp2p.com India’s leading peer to peer lending platform.

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