Debt Consolidation Compass | What is it, When To Request It?

Unfortunately, many people, with the period we are experiencing, find themselves having to face expenses that they had not budgeted for and may not have the opportunity to have immediate liquidity that is sufficient to pay certain figures. And this is where financial companies come into play, to which one can turn to in case of need or perhaps even to indulge in some whim, conveniently paying for purchases in convenient installments and tailored to the customer on duty. In this article, we will talk specifically about the Compass debt consolidation credit company, we will see what it is, when it is convenient to request it, the characteristics and peculiarities of this company that has been consolidated for years in the sector.

Compass what is it?

Let’s start now by taking a look at the history of Compass, a historic financial company born in Milan in the distant 1950s.

Let’s now see the most significant historical moments for this company:

  • In 1951 it was established initially investing 100 million lire and the shares divided equally by Mediobanca, Banca Montecatini, Fiat and SniaViscosa
  • Consumer credit business in Italy began in 1960

Compass story

Compass S.p.A was the first financial company to introduce personal loans and various types of financing for the purchase of durable goods, such as the first household appliances until 1961, when Mediobanca decided to acquire all Compass shares.

In 1998, the company launched its installment credit cards on the market, which can be used on the Visa and MasterCard circuits.
In 2000, he purchased the majority of the shares in Teleleasing, an important company operating in the telecommunications sector, from the Telecom Italia group.
We arrive until 2011, when Compass financial company becomes a payment institution for the management of credit cards, up to the important date of 1 October when its company name changes to Compass Banca S.p.A. Being part of Mediobanca, which is the Italian business bank of reference in the country.

What does Compass do?

The strengths of Compass financial company are bank investments, where it is still an important partner of companies in the development of growth and financing projects.

Compass Banca S.p.A. is, to date, the consumer credit company among the top companies operating in Italy and, with more than 2.5 million active customers and 13.3 billion outstanding loans, collaborates with over 44,000 affiliated businesses and beyond 4,400 bank branches. Furthermore, it currently boasts about 280 Compass points of sale throughout the territory.

Compass Headquarters

The main office, as previously mentioned, is located in Milan. Over the years it has entered into more than 370 partnership agreements in the banking, insurance and financial sectors.

In recent years, it has increasingly established itself in the “Buy Now, Pay Later” deferred payment service, both in physical stores and online, to offer customers speed, simplicity in installment payments and innovation in the type of services.

On the other hand, according to various sector studies, consumer credit, in the short term, could play a main role, given that a growth trend in financial purchases of about 80 percent is expected.

Debt Consolidation Compass

Let’s now analyze one of the peculiarities of this market leader: Compass debt consolidation. First of all, let’s explain what it is and what does debt consolidation mean?

In practice, debt consolidation allows you to merge different debts, agglomerating them into a single debt, and this is done by asking for a new loan, useful for repaying the previous ones.

When is it convenient to do debt consolidation?

This practice undoubtedly has its advantages, first of all, it allows you to have everything under control, because you could put together more loans, so consolidating debts is a way to simplify the procedures, and moreover a solution that allows you to save if the new loan has a lower interest rate than the one to be consolidated. Clear?

Now let’s see what the Debt Consolidation Compass offers.

Compass Consolidation

The Compass Consolidation Loan is aimed at people who have multiple loans and who want to pay them off by merging everything into a single loan, possibly having a definitive monthly payment.

With online Compass debt consolidation, a very popular practice lately, especially for the purchase of goods and services, you can pay off all loans through only one, thus having only one monthly maturity and a single financial one to interface with.

Additionally, you may have the option to extend your repayment schedule and ask for more money.

Compass Consolidation Loans How Does It Work?

Now let’s see how the debt consolidation loan works.

As previously mentioned, Compass Consolido is the loan for debt consolidation that is aimed at all those who want to make purchases and pay their expenses with peace of mind and carefree, without having too many monthly installments to think about, or simply for those who want to make new ones. projects.

What are the requirements for a Compass loan?

This online Compass loan can be requested by employees and self-employed workers and by retirees who already have financing or loans in progress.

To access this type of loan, you must be resident in Italy and be between 18 and 75 years of age. In addition, the maximum amount that can be financed is 30,000 euros.

The main features we can expect from this type of Compass contract are:

  • Single management of financing
  • Quick delivery
  • Speed ​​of deadline notifications and possible renewals

All with professionalism and with the help of customized solutions for every type of customer need.

How to get a debt consolidation loan?

Now let’s see what a person who wants to open this Compass loan needs.

First, you need an identity document (valid identity card), the tax code or health card.

In order to apply for Compass debt consolidation for employees, you must have a recent paycheck; instead, for self-employed workers, the last 730.

Finally, to obtain debt consolidation for pensioners, the pension slip must be presented.

As for foreigners, residence in Italy for at least one year and a residence permit are required.

After having done all the necessary checks, you can receive the debt consolidation loan in a short time, usually in one working day the money arrives by bank transfer or check.

Compass installments payment

The Compass installment payment, on the other hand, you can choose to pay it through different options:

With automatic debit on the current account

With bills to be reimbursed in SisalPay or LIS PAY points of sale, at Authorized QuiPay Points in supermarkets of various associated companies and in post offices.
In addition to all this, Compass debt consolidation loan offers a wide range of insurance coverage that can be included in the loan to ensure greater security in case of any inconvenience.

Well dear readers of Financial Empires, by reading this article you have a clear idea of ​​what Debt Consolidation Compass offers. Now it is up to you to decide whether to ask for a Compass loan, perhaps to take that holiday you have been dreaming of for some time.

The Editorial Staff, Financial Empires



FINANCIAL EMPIRES is a web site magazine founded by Corrado Firera in 2021. The mag is focused on business, money and Investments topics. Our first purpose is to give you information and news. Please be sure to read our disclaimer policy.

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