For ten years now, more and more French people have opted for a consolidation of their loans in repayment. If this operation is so much democratized, it is obviously because the operation proves fruitful.
Much more than a purchase of credits makes it possible to rethink its, to leave on new solid budgetary bases. So what does this operation consist of? And above all, concretely, what are the benefits of buying back credits for individuals?
Purchase of credits, an efficient way to restructure your budget
The restructuring of loans consists of grouping all (or at least a major part) of the debts of an (badly) indebted household into a single credit envelope. By this maneuver, the borrowers have only one monthly monthly credit. The redemption of credits facilitates the management of domestic for the happiness of faith.
However, the grouping of loans does not stop at this end. Through the services of a broker buyback credits, the debtor benefits from tailored budget advice. The goal of the broker is to find the solution of ReBarnaby Rudgement most suited to the situation of the home.
And for that, it will rely on its banking partners specializing in financial restructuring. The latter propose to buy back debts over long periods (up to 35 years). This is a boon for individuals who want to reduce and simplify the management of their budget.
Redemption of credits to be able to save again
Households that are too indebted often have trouble putting money aside. Fixed expenses (loan maturities, rents, taxes, energy bills, etc.), not to mention daily expenses (shopping, expenses related to children, leisure expenses) all weigh heavily on the family budget. When the household debt ratio is above 40%, the lifestyle can quickly become a financial survival. In other words, in this situation there is no place to save.
Following a loan consolidation operation, the household is back on a balanced budget. By reducing the monthly financial burden, this procedure gives the household the opportunity to save again.
The establishment of regular savings guaranteed to the home a balance in the long term. By creating a cash envelope, a safe savings, the household will be able to face exceptional expenses without necessarily calling on credit in the future.
Benefits of the redemption of credits: new debt capacity
The redemption of credits is also the right solution for those who want to increase their borrowing capacity. For over-indebted households, it can be particularly frustrating not to be able to borrow. With a debt capacity reduced to nothing and without saving aside, a family can no longer carry out projects (work, holidays, new real estate investment…)!
The lowering of the financial burden gives rise to an increase in the rest to live. The latter represents the amount that remains in the household each month after payment of the monthly credit insurance and income tax. If it can be used for saving, it is also possible to consider a new loan. This can be done downstream of the credit buyback process or directly integrated with this operation. In this case, your broker adds cash to the Loans outstanding.
Far from the negative image that public opinion has given to the redemption of credits for years, this operation is particularly salvatrice for the households wishing to realize new projects without increasing their monthly expenses of credits, or for the poorly indebted households eager to regain financial health.
To maximize the benefits of buying back credits, the advice of an expert loan aggregation broker is highly recommended! In order to find the most appropriate budget solution, the latter will need to have a good knowledge of your situation and your financial wishes.