The operation of repurchase of credit, or grouping of credit, aims at arranging the debts of a household to meet several objectives. Either the home is looking to reduce its monthly payments by lowering its debt ratio, or it wants to embark on a new project. Finally, buying back credit can help borrowers better organize their daily budget management.
Buying back credit to reduce your monthly payments
The first interest of the repurchase of credit consists in reducing the monthly payments of a household which suffers from a state of debt too high. If the latter has obtained several credits over time and the household budget is left with a limited amount of living, he can call on a credit grouping to unify the credits around a single monthly payment.
Indeed, the capital will be centralized by a single contract contracted with a banking intermediation specialist who may concern consumer loans, capital loans but also a mortgage.
If the borrower encounters a difficult period the repurchase of credit can help him to lower his monthly payments to give himself a little more room for maneuver in the management of his budget.
Get your credits redeemed to prepare new projects
It happens that during the life of new needs appear either in a constrained way or to seize new opportunities. Whether it is to invest in insulation work to replace an aging car and expensive to maintain, buying back credit facilitates financing by reducing the monthly payments of the household. On the other hand, a household which seeks to acquire a real estate but which always finances a consumer credit will have difficulties to build a solid financing file since its remainder to live will be found reduced.
By incorporating old credits into that of a new real estate acquisition project, the borrower takes advantage of a reduced rate linked to that of real estate provided that the share of the stone is more than 60%. In other cases if the borrower seeks to carry out renovation or embellishment of his home he can integrate the sums into his mortgage by making a credit repurchase. In addition, in a credit consolidation operation, the owner who wishes to carry out his work himself requires a freely allocated amount in order to make more savings.
Organize your finances Facilitates household budget management
To avoid a state of bad debt, the buyout can take place in order to anticipate this situation by reducing the monthly payments on the one hand but also by simplifying its management. In fact, the borrower sees more clearly in his daily life to go up the slope more easily by taking into account a single line of account.
In addition the repurchase of credit intervenes to put order without for all that fulfilling an existing loan which would be counterproductive. Namely, that a repurchase of credits does not necessarily imply the realization of savings in the long term. However, the management of the budget can be easier each month because his remaining living is found appreciated from the first month of withdrawal.