By definition, consumer credit is a financial loan granted either by a bank or by a credit institution to finance the projects of a consumer. It comes in different forms: personal credit ( financing a holiday project for example ), car loan ( financing a vehicle ), revolving credit ( financing daily consumer goods such as smartphones or household appliances and personal property) ). Entering a consumer credit allows a consumer to acquire a good without having to save money. However, the amount lent is subject to a higher or lower interest rate and must be repaid.
If you read this file, it is certainly that you seek a solution to finance a new project or to lighten the monthly payments of your various credits. You should know that if the rate of over-indebtedness , which is calculated according to your income and your expenses, must not exceed 33% . If this is your situation, you are considered, for financial organizations, as over-indebted. Of course, you are fully entitled to file an over -indebtedness file with the Banque de France commission. That being said, it is not certain that your file is considered admissible. It should be known that more than 1000 files were rejected in December 2015. So we must look for another solution.
In fact, how to get your head out of the water so as not to fall under the debts? The redemption of credits can be your solution. The principle of buying back consumer loans is simple. It consists of collecting your loans (consumer credit, mortgage or both) in a single loan. This grouping makes it possible to reduce the monthly payments thanks to a lengthening of the duration of the loan. Beware, however, some credit organizations offer only the consolidation of consumer credit excluding real estate loans. It is your job to educate yourself well before making this type of long-term loan.
It is possible to make a request for the purchase of credits for two causes: the reduction of its monthly payments with a reduction of the debt ratio and thus being able to take advantage of its purchasing power or to finance a new project.