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Why the redemption of loan?

For an over-indebted borrower to once again honor their monthly payments, the credit buy-back has been put in place. It is a financial solution that allows households or the indebted person to balance their expenses.

 

Solve the over-indebtednes The maximum debt ratio accepted is variable, but is around 33%. Beyond this threshold, the financiers consider that a household does not have enough income to cope with repayments of charges related to credits. Borrowers who reach the threshold of over-indebtedness can opt for the repurchase of credit.

The system consists of grouping several credits into one to reduce the amount of monthly payments. There is only one long-term payment schedule to reduce monthly repayments. There is usually a choice between a mortgage buyback or a tenant credit redemption. The purchase of mortgage credit is to consolidate a mortgage with one or more consumer credit. The owner of one or more real estate may request it.

As for the repurchase of credit tenant, the bankers grant it hardly to the tenants because of a real estate property as a guarantee. Many sites offer different articles and interesting tips on credit consolidation. Learn more .

Recovering your savings capacity

Households sometimes have difficulty managing their debts well if a mortgage is included in them. Customer repayment charges or monthly payments may fall if a financial institution agrees to buy back its outstanding credits. They can again anticipate savings.
In fact, the “savings reflex” is very important because there could be unforeseen events.

Once the new spending related to the credit consolidation is known, it is possible to calculate its savings capacity. Simply learn how to prioritize your expenses after paying monthly installments.