Consolidate your loans and reduce your monthly payments
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Debt consolidation is a financial operation that involves combining several existing loans into a single contract, with a new single monthly payment, a single rate and a single monthly direct debit. This operation generally significantly reduces the overall monthly payment, sometimes by up to 40%, by extending the repayment period. It also simplifies budget management by replacing multiple creditors with just one.
Sodefina offers two types of debt consolidation. Consumer credit consolidation combines only consumer credits (personal loans, auto loans, revolving credits, home improvement loans) up to €75,000 over a maximum of 84 months. Mixed consolidation combines consumer credits AND a mortgage, up to €75,000, over a term of up to 180 months. In both cases, a personalised assessment is provided before any subscription.
Warning: while debt consolidation reduces your monthly payments by extending the repayment term, it may increase the total cost of the credit. Before committing, carefully compare the total amount repayable before and after the operation. Sodefina systematically provides a complete comparative simulation, in accordance with applicable Portuguese law requirements. The operation is worthwhile if the reduction in monthly payments or administrative simplification compensates for any additional cost.
Still not sure?
Sodefina helps you find the credit that's truly right for you.
Debt consolidation
Combine your loans into one
- Up to €75,000 consumer, 180 months for mixed consolidation
- Payment reduction of up to 40%
- A single rate, a single monthly payment
- Sodefina repays your previous creditors directly
The personal loan
A loan suited to your projects
- Between €3,000 and €75,000
- From 6 to 180 months
- The borrowed amount is paid in one go into your bank account
- Fixed monthly payments throughout the term
Our benefits
Simplicity
Simulate and get your loan 100% online, from any device.
Speed
Instant preliminary decision and final answer within 24 business hours.
Security
Qualified electronic signature and protected data at every step.
Eligibility conditions
Required documents
Frequently asked questions — Debt consolidation
Not necessarily. Debt consolidation reduces your monthly payments by extending the repayment term, but this means you pay interest for longer, which can increase the total cost of the credit. The operation is worthwhile if you need to reduce your monthly payment to maintain your standard of living, if you're in a situation of over-indebtedness, or if you can obtain a rate significantly lower than your current loans. Sodefina systematically provides a complete comparative simulation before any decision.
Yes, in the context of a mixed consolidation. This allows combining consumer credits AND a mortgage into a single contract, up to €75,000 over 180 months. However, consolidating a mortgage may generate early repayment indemnities (IRA) equivalent to 6 months of interest or 3% of the outstanding capital. These penalties are taken into account in your simulation. Mixed consolidation is subject to different rules from consumer-only consolidation.
Yes. Like any credit, debt consolidation is subject to an analysis of your solvency. A refusal may occur if your debt ratio after consolidation remains too high, if your income is insufficient or unstable, if you are registered in the CRC, or if your overall financial situation does not allow for the repayment of the new loan. In case of refusal, you can contact the Banco de Portugal for support under the over-indebtedness procedure.