You have contracted many credits and you are no longer able to meet your repayment deadlines?
The credit buy can certainly be a solution to this type of problem. It will be a question of regrouping in a single credit all of your loans.
You will then be committed with a single credit, a longer term and a more attractive rate from a single bank. This will allow you to have a better control of your budget, the cost of the loan and its duration.
To do this, you have the option to contact several credit repurchase organizations: traditional banking institutions, specialized institutions and brokers. It is important to choose your redemption organization. To do this, here are some criteria that should be observed.
The new refund rate
This is the main element that will determine the cost of your buyout. The weaker he is, the cheaper you will pay. It should be noted, however, that rates are revalued on certain fixed rates, including those of central banks.
The credit repurchase organizations will therefore offer you rates in identical ranges. However, depending on their commercial and financial situation, some organizations will offer higher or lower rates.
If the organization wants to prospect new consumers, it will lower its rates to attract them. In other cases, the applied rates will be high.
So think of comparing the different organizations in the market through our comparator to find the one who is looking for new customers and offers a low rate, in order to benefit from the best rate.
Also remember to compare the overall effective rate (APR), which includes all the loan costs, including administration fees and insurance.
This will prevent you from falling on an organization, which although offering a favorable rate has a very high insurance offer.
Monthly payment, insurance and duration
These three criteria are very important because they will allow you to subscribe exclusively with the credit redemption organization that meets your needs.
With a comparison based on these criteria, you will receive a monthly payment that suits your needs, with insurance on a realistic period based on your ability to repay. Think about comparing these elements together as a whole.
Do not forget to set your budget clearly. This will allow you to make a much better choice. For a cons loan loan for example, if repaying 100 euros monthly is better than paying 150 euros, respect that!
Avoid reducing for example your leisure 50 euros or opt for another solution that will not be beneficial.
Remember that this 50 euro difference will be added each month for at least one year. Are you thinking of sacrificing your leisure time for the entire repayment period?
The reputation of the credit repurchase body
A repurchase of credit commits you for a period often long with a partner. It is therefore essential to choose a serious establishment.
This is particularly the case of credit redemption organizations proposed by our comparator. There are also many other things that will help you ensure the reputation of an organization.
For example, you can inquire of those around you or seek the services of a broker. Also remember to consult the reviews on the web.
This will give you an idea of the main credit redemption organizations, as well as the different offers they offer. Do not hesitate to inquire with market references.
It should also be noted that the choice will be based on the type of credit redemption you want to take advantage of. Do not forget either that a banking organization sometimes corresponds to a certain profile or a well-targeted population for the acceptance of a redemption request.
It will be up to you to inquire to choose the credit redemption organization that best fits your profile.
The flexibility of the repurchase body
After taking into account the rate, the monthly payments, the reputation of the partner and others, you must also take into account the environment of the service offered to you by the redemption organization throughout the repayment period.
In addition, your financial situation will vary over time. Your expenses and your income may indeed vary downward or upward.
In other words, the collateral you have to repay your credit consolidation can volatilize over time.
This is the case for example of a reduction of your salary. During your comparison of the various credit repurchase organizations, think of favoring those who propose a certain flexibility, in order to remedy this kind of situation.
Some organizations may not why, you can benefit in some cases a deferral of refund. The duration of the latter will however depend on the degree of complexity of your file.