A plan of whose characteristics are those of a grouping of consumer loans is a real lever to allow the realization of its projects.
The restructuring of consumer loans is largely a solution that allows a household to reduce its monthly debt. In contrast to the repurchase of mortgage loans whose primary objective is to reduce the total cost of the loan.
Discover through the lines of our release all the answers to the question: when to make consolidation of consumer credit?
Better understand the purchase of consumer credit!
The purchase of consumer loans is that rethinks the management of several loan contracts in repayment. This is to restructure totally or partially unsecured credit, that is to say that do not fall under the real estate regime.
To obtain a buyback credit, it is advisable to use a loan consolidation broker. Indeed, depending on the financial situation of the applicant (s), a broker will be more likely to know which bank is solicited. This is a significant saving of time based on the principle that obtaining a consumer credit restructuring operation is a tedious task that requires a lot of energy.
This is simply a new credit resulting from a proposal related to the financial situation of the borrower (s). A new repayment term as well as a new interest rate to obtain a single monthly payment adapted to the repayment capacity of the household.
When is it necessary to buy consumer loans?
You want to access the property, but your debt ratio is too high because of monthly loan payments. A consolidation of consumer credit reduces the household debt ratio through a spread of debt. This gives you enough borrowing capacity to buy a home loan and become a homeowner.
Following the purchase of real estate (principal residence or rental residence, or second home,) the credit envelope subscribed is not enough to complete the work. You had to borrow more by taking out work credits or renewable as a reserve, and so on. Grouping all work loans and consumer loans is the solution to obtain a reduced debt ratio, and thus be able to control the budget management of the home.
A consolidation of consumer loans offers the possibility of obtaining in the plan of a cash envelope. In order to avoid accumulating revolving loans, it is advisable to consolidate all outstanding loans and to include cash required for the successful completion of projects.
All the more, it allows to keep a monthly charge of credit adapted to the good management of the budget!