rachat de credits

Decline in purchasing power: what if credit consolidation was the solution?

The effects of the economic situation against a backdrop of crisis spare no household. With the rise in gasoline prices and food inflation, French families are having to do more than tighten their belts. The end of the month is even more stressful for households who have several monthly payments to honor. If you are looking for a solution to relieve yourself financially, refinancing credits could help you.

Consolidate your debts thanks to credit redemption

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Contracted with numerous creditors, debts accumulated over the years can end up suffocating you economically. Indeed, the debt ratio goes beyond the 33% that banks consider viable. In addition, you will have to juggle several deadlines. Which exposes you to the risk of late payment penalties at any time. In short, having several loans to repay is never fun. Credit refinancing makes it easier for you by combining them into a single monthly payment at a reduced amount. This is possible thanks to an extension of the repayment period. This duration sometimes reaches 25 years with certain financial organizations.

Various advantages of a consolidation of liabilities

By subscribing to a credit buyback, you will gain purchasing power. Over time, the monthly payments can become so high that you only have a small amount left to live. Which further exposes you to the spiral of cyclical debt. If it is a simple revolving credit or a weak bank overdraft, it is tolerable. Unfortunately, poor purchasing power more generally leads to over-indebtedness. A financial restructuring will reduce the share of payments to give you more money to spend once your non-reducible costs have been deducted (schooling, social security contributions, taxes, etc.).

Repurchasing credits allows you to lead a decent life. With more money left to live, you will have the opportunity to pay for better education for your children. You will be able to consult non-approved specialists and access care not covered by social security. Madame will even be able to indulge in shopping trips while Monsieur will finally have the DIY tools he has wanted for so long. Having money available gives you the opportunity to carry out other projects that are important to you. You can save money or take out new credit.

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Loans eligible for consolidation

In principle, all loans taken out with a formal financing organization can be grouped together in a loan buy-back.

  • Real estate loan: regardless of the number of monthly payments paid, the credit you took out for the purchase of your main or secondary home can be redeemed by a creditor. Rest assured, the fact that you have benefited from a tax exemption does not change your eligibility.
  • Car credit: whether you borrowed to purchase a car or a two-wheeler, know that this debt can be combined with your unified repayment. This is also the case for those who have purchased a tractor or utility vehicle, but with an approach dedicated to professionals.
  • Consumer credits are targets for financial restructuring. These are school loans, travel financing, overdraft facilities or commitments to a furniture store.

Some particularities of credit redemptions.

Credit redemption is mainly aimed at individuals. Loans taken out in a professional context are excluded. That said, there is a bundling option for these investments made for work. The entity which takes over the contractor’s liabilities can even intervene for late payments and URSSAF debt. To benefit from it, you must have the status of self-employed person, craftsman, company manager or practice a liberal profession. In any case, the interview with a credit broker and an online simulation will shed more light on this subject.

It is not relevant to include a zero-interest loan in a loan buy-back. Moreover, this financing appears in the list of exclusions. Households in over-indebtedness are also ineligible. Articles L 711-1 and L 712-2 of the Consumer Code define their situation as the total inability to pay non-professional debts. This may be due to unemployment or another life hazard. Furthermore, people who are in the payment incident file may see their request refused by the creditor.