Let’s stop prejudices! An indebted person who uses a purchase of consumer credit is not a poor person. It is simply trying to find an intermediate solution to readjust its financial budget while increasing its purchasing power. For creditors and finance experts, they are responsible people. What are the causes of debt? What will be the benefits of buying back consumer credit? To which organization to confide? This article answers all your questions.
The redemption of credits; a credible solution?
Thirty years ago, the citizen who had the feeling of being in debt had to file a file with the commission of over-indebtedness of the Nat Bank. It was the only way to freeze his debts and get his head out of the water. At that time, the source of indebtedness was caused by the accumulation of consumer loans. Today, the lifestyle habits of French consumers have changed greatly and the causes of debt are very different. According to the statistics of the Nat Bank, the main cause is caused by an unforeseeable accident of life like a dismissal or a divorce. His situations, which are more and more frequent, accentuate the financial difficulties. The country’s economy is also putting the budgets of citizens at risk. The finding has led credit agencies to invent a new financial product; the redemption of credits. This solution is neither more nor less a depreciable loan which will have to be the object of a regular repayment over years.
What is the difference with other credits available for consumption?
Here, the product does not concern the financing of a new project (even if some banking organizations offer it). This is to bring together consumer loans ( credit for the purchase of a vehicle such as a revolving credit from a shop ) with the aim of lowering the interest rate, extending the duration and reduce the amount of monthly payments. Thus, the borrower has only one monthly payment in progress, which allows him to better manage his financial budget.
The purchase of consumer credit is, above all, a solution to avoid being stuck at the Franu Bank and suffer the consequences ( prohibition of the use of payment instruments for example ). As a result, a thorough analysis of its needs and repayment capacity is required. If a consumer feels caught in the throat every mid or end of the month, it is better not to give in to the temptation to integrate new funding in its purchase of credits.
To which organism to turn to make this redemption?
If you are, by nature, a little curious, you must have noticed that hundreds of organizations (credit like banking) offer the purchase of consumer credit. This plurality complicates things since it is no longer known to which organization to entrust its project of regrouping credits.
What is a good establishment?
It is impossible to say that one organism is better than another. Everything will depend on your needs and current promotions ! What is great for a consumer in debt one month will not necessarily know for another one the following month.
There are a few factors that guide you:
- Check the reputation of the financial institution.
- Check that the company is not in liquidation.
- Check that the study of the file is not invoiced (the law requires that the study be free).
- Look at the fixed interest rate (the rate must be lower than the average rate of your consumer loans before surrender).
- Take an interest in the amount of the fees.
- Pay attention to the various services such as the transfer of monthly payments.
By using an online comparator, you will be able to make a quick, free and efficient comparison. Do not hesitate to do this to get quotes in a few clicks.
To help you in your quest, we have established a ranking of the best consumer credit organizations. Of course, it is not a question here of advertising for any credit institution. We have just made a brief census of the best credit redemption organizations based on consumer opinions and factors that may help you make a real choice (cited above).