Want to see the effects of a pool of credits on your finances? (only one monthly payment, reduced up to 60%, possibility of request for cash, a single interlocutor …)
An important and effective tool for controlling a budget, buying back credits by grouping different maturities reduces the monthly pressure on your debt.
Whether it’s called consolidation, restructuring or credit consolidation, you’ve already used this solution in the face of your over-indebtedness and are wondering now if you can buy back your credit buy-back. Overview of the question!
Need a consolidation loan right now?
Several factors may lead you to consider to get out of payday loans. A decrease in your income, new credits or an unforeseen budget lead to new financial difficulties.
A solution that can for example accompany a purchase of your life insurance for a quick return to balance.
A solution that can also allow you to bail out without necessarily touching this life insurance contract on which you counted for your old age. All the options are conceivable, they deserve to be studied seriously.
What are we talking about exactly?
Real estate loans, consumer credit, work credit and revolving credit, your debt became untenable: added to each other your monthly payments ended up at a level incompatible with your ability to repay.
Concretely, the accumulation of your credits did not leave you any more to live sufficient. You had the good reflex by contacting a financial institution to proceed to a new loan: a buy-back transaction intended to consolidate your different loans into one.
The financial technique is very simple. Credit redemption with a longer repayment term offered you a reduced monthly payment that is compatible with your ability to repay.
It allowed you to prepay all credits that affected your financial situation. Unfortunately your situation has evolved and you must consider a new restructuring of your debt.
Is the operation possible?
Nothing prevents you from carrying out a second operation of restructuring your debt. The transaction will aim to buy back your various credits including your first purchase of credits. As always, the agreement of a financial institution is a case-by-case study of each file.
When considering such an operation you should keep in mind that if a consolidation of loans leads to a decrease in the monthly maturity, it results in an increase in the cost of credit due to the extension of the term reimbursement.
Be aware that the borrower insurance component of the loan can also be higher, the lender considering your profile as risky due to the accumulation of imbalances.
Remember however that for many financial institutions, the existence of a first acquisition of loans in the mix of credit to buy is not prohibitive to the establishment of a new credit buyback solution. It is now necessary to study concretely and simply the feasibility via a redemption simulation.
The redemption simulation.
Free and uncommitted online buy simulation will allow you to quickly get a response as to the feasibility or otherwise of the operation, the scope of its benefits and its overall cost.
Start by gathering the necessary information for this simulation: the data relating to your real estate loans, work credit, consumer credit, revolving credit and life insurance must be precise. The combination of loans and especially the presence of one or more real estate loans is crucial in the assessment and development of the buyback solution.
Also gather all the data relating to your income. The set will allow the simulator to determine your ability to repay and offer you solutions for an eligible debt ratio.
Good to know: the presence of a home loan in the mix of credits to buy back increases your chances of accepting your second request to buy back credit.
Play the competition
Our site offers a great comparison tool to compete with lenders. It is indeed important to compare different offers to buy your credits to choose the one offering the best conditions.
The online comparison allows non-specialists to be in a few clicks a precise idea of the most advantageous offer. Without having to move from home, you head to the most competitive option to find the financial balance that you lack.
Online comparison is the only solution that allows for the instantaneous competition of many lenders. Ideal to optimize the operation and not to miss the promotional offer of the moment in terms of rates, borrower insurance and terms and conditions.
Submit your request online
The redemption simulation and the competition of lending institutions are essential as the prerequisites for online demand.
Very simple, it allows to file your file with the most competitive lender of the moment. It will allow the latter to analyze precisely your financial situation and assess the risks to be assumed as a lender.
In concrete terms, the online application procedure is very simple: simply fill out the form proposed by the web platform. When your request is accepted, we advise you to subscribe a borrower insurance to finally live calmly your credit.
This will replace you, under the contractual conditions, in case of accident of life resulting in a new insolvency. As always with credits, prevention is better than cure!
By allowing an early repayment of all your loans, including your first group loan, you are on a healthy footing.
A very simple solution thanks to the web and the step-by-step accompaniment of a specialized advisor. Think about it, it could be the solution to all your current difficulties!