Personal Loan Debt Consolidation
Leading Debt Consolidation Agency in Malaysia
Bluebricks is a debt consolidation agency in Malaysia with over a decade of experience. We specialise in loan consolidation and rejected services, and we are committed to helping you regain control of your finances and plan for a debt-free future.
What is a Personal Loan for Debt Consolidation in Malaysia?
A personal loan for debt consolidation enables borrowers to combine multiple existing loans into a single, new loan, making it easier to manage their finances and reduce interest expenses.
Here's a Simple Example:
Imagine you owe RM50,000 on one credit card and have a personal loan of RM30,000. Instead of paying these separately, you combine them into one new loan.
Now, let’s see how this saves you money:
Before consolidating your debts, you’re paying a lot each month – RM2,500 for your RM50,000 credit card debt with a 5% minimum payment requirement (of which 1.5% is interest) and RM700 for your RM30,000 personal loan (8% interest). Your total monthly payment amounts to RM3,200.
However, after debt consolidation, you get a new loan of RM80,000 at 8% interest for 7 years. Your monthly payment is reduced from RM3,200 to RM1,485.71. That’s almost half of what you were paying before!
Personal Loan for Debt Consolidation with Bluebricks
At Bluebricks, we offer a strategic solution for managing multiple high-interest debts. Our advisors will guide you through the debt consolidation process, allowing you to replace your existing high-interest personal loans with new, low-interest ones.
You can also extend your repayment period to a comfortable 7 to 10 years, providing relief from the stress of managing multiple loan obligations.
Moreover, our services are designed to be accessible to a broad range of borrowers. To qualify, you simply need a monthly income exceeding MYR 5,000 and a clean financial record with no legal or summon cases in CTOS.
Who is Eligible for Bluebricks' Personal Loan Rejected Services?
At Bluebricks, we understand that circumstances vary and are committed to offering tailored solutions for individuals who have faced loan rejections. Our personal loan debt consolidation service caters to diverse financial profiles, ensuring financial support is accessible to more individuals.
Eligibility Criteria for AKPK, Poor CTOS & High Commitment Individuals
Basic Salary Requirements
Your basic salary, including EPF deductions, must be more than RM5,000.
Employment Stability
You should have been employed for over six months and be a confirmed staff member.
Legal Clearance
You must have no ongoing legal issues, summons, or court cases.
Eligibility Criteria for Freelancers, Business Owners & Individuals with Insufficient Income Documents
CTOS Score Requirement
Having a minimum CTOS score of 550 is mandatory.
Timely Payment Record
You should not have a history of late payments.
Non-AKPK Clients
Individuals currently under AKPK services are not eligible under this category.
Legal Clearance
You must have no ongoing legal issues, summons, or court cases.
How Can We Help
At Bluebricks, we are committed to providing clear, concise information and support to help you navigate your loan options in Malaysia. We offer a range of solutions, including:
Rejected Loan
Our loan experts analyse the reasons behind your rejection and work with you to enhance your chances of loan approval.
Increase Loan Amount
We assess your financial profile, providing insights on maximising your eligibility and connecting you with the right financial institutions to meet your specific needs.
Low Interest & Fast Approval
We specialise in finding low-interest loan options coupled with fast approval processes, ensuring you get the financial support you need without unnecessary delays.
Get In Touch With Our Loan Experts
Ready to explore your options? Fill out our form to discover how we can help you apply for personal loan for debt consolidation in Malaysia.
Ready to explore your options? Fill out our form to discover how we can help you apply for personal loan for debt consolidation in Malaysia.
Why Bluebricks?
Licensed Loan Brokerage In Malaysia
We act as your loan agents and represent not only individuals but also businesses. As technical financial advisors, we work with various borrowers and support you to get your loans approved. You will have access to a wide range of loans, even if banks or lenders have rejected you. Our goal is to offer advice that helps ensure your loan applications are successful and not subject to rejection.
Over 10 Years of Experience
We will navigate through all situations alongside our clients, managing payments and resolving any issues that arise. Our solutions reflect insights gained from years of experience and are supported by a range of supplementary services. These include loan and credit solutions, consultancy on real estate financing, and technology responses for asset management.
One-Stop Solution
We offer comprehensive loan services, acting as a one-stop solution for our clients, where we compile a variety of loan options from lenders for your consideration. All you need to do is provide us with the necessary documentation, including your income statement, assets and liabilities, employment record, and credit history. We will manage your collateral and documentation to facilitate loan approval.
Full Financing with 100% Bank Loans
We understand that financial accessibility is key, which is why we offer 100% bank loan availability. This unique opportunity is perfect if you are in need of complete financial support, providing an accessible path to your goals while also helping you build a positive credit history.
No Upfront Payment Required
We believe in easing your financial journey from the start. With our no upfront payment policy, you can embark on your investment without any initial financial strain, not only reducing your immediate burden but also reflecting our commitment to your satisfaction and trust in our services.
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Personal Loan Debt Consolidation – FAQs
When considering a personal loan debt consolidation in Malaysia, here are several factors to take note of:
- Discipline: Avoid accumulating new debt after consolidation.
- Fees: Be wary of any additional fees associated with the consolidation process.
- Long-Term Impact: Extending the repayment term may increase the overall interest paid.
In Malaysia, there's no fixed limit on the number of times you can use a personal loan for debt consolidation. However, the ability to do so depends on several factors:
- Credit Score and History:
Each application for a new personal loan can impact your credit score, especially if you've recently taken out other loans. - Debt-to-Income Ratio: Lenders will assess your debt-to-income ratio, which is the amount of debt you have relative to your income. If consolidating your debts has not significantly improved this ratio, it may be harder to get approved for another loan.
- Lending Policies: Different banks and financial institutions have their own policies regarding debt consolidation loans. Some may have restrictions on how often you can consolidate your debts.
Yes, a personal loan debt consolidation in Malaysia can impact your credit score negatively in several ways:
- Opening a new account, like a personal loan, might cause a small decrease in your credit score.
- Applying for a new consolidation loan could lead to a hard inquiry on your credit report, which might lower your score, especially if there are several inquiries in a short timeframe.
