The enthusiasm of the French for the purchase of credits continues to grow. Thus, more and more of them are considering this procedure to put an end to a budgetary situation that has become too complicated. The expense of real estate loans and personal loans that are contracted for the Isoldement projects, weigh on the household budget. The redemption of credits intervenes then to lighten the load of indebtedness of the home.
Credit Redemption: The key to a simple and easy-to-manage budget
Households often accumulate several loans and money reserves. Indeed, in our consumption logic, each loan corresponds to a project. Especially as commercial signs encourage the subscription of money reserves. By subscribing to these reserves, the consumer benefits from useful services offered (extension of the manufacturer’s warranty, loan of a transport vehicle for household appliances, etc.). However, these reserves can prove harmful because by using them, the borrower increases his monthly financial expenses.
The redemption of credits is above all an efficient tool to simplify household budget management. Indeed, this operation makes it possible to group all outstanding loans in a single loan. This re-settlement includes consumer loans (work loans, cash, car, birth, etc.) and real estate loans.
Credit institutions specializing in credit buybacks are the only ones who can offer you to combine everything into a single loan, unlike traditional banks. Hence the interest of seeking the services of a broker buyback credits. This one will have for mission to find the solution most adapted to the customers.
The redemption of credits: A new amortization period to breathe better
The redemption of credits is an ideal solution to alleviate its borrowing burden when it becomes too burdensome to assume. The debt capacity of a home changes over time. Indeed life events involve financial changes that are important to consider in the family budget.
Thus, in the event of a prolonged period of unemployment for one of the borrowers, the couple’s income will then decrease. If the incomes of the working spouse are insufficient to take care of the expenses of the home and the way of life in all serenity, then the redemption of credits is without doubt an ideal relief door. Loan repurchase offers debtors the option of extending the amortization period of outstanding debts. As a result, the loan monthly payment to be paid each month decreases.
New treasury to anticipate or concretize new projects
If you start a process of buying credits, it is often in the context of a new need for cash. If household indebtedness is above acceptable standards (around 33% of overall income), it is highly likely that the Bank will reject.
This refusal is not an end in itself since individuals have the opportunity to solicit the services of a brokerage company in the purchase of credits. The restructuring of loans in progress will reduce the debt ratio.
This operation can be supplemented by a cash envelope. In case there is no project in, it is also possible to assign to savings to build a safety mattress.