When purchasing power falls and debts accumulate, we find ourselves at the foot of the wall. Fortunately, smart alternatives such as buying consumer credit can get your head out of the water. It is an ultra simple concept that provides many benefits to the taxpayer.
Credit repurchase: what is it?
The redemption of debts consists of borrowing from a financial or banking establishment on advantageous conditions to repay all of its outstanding credits, a priori much less profitable for the taxpayer. To do this, it will be necessary to ensure that the single credit rate is lower and contractual. The new bank then liquidates in advance the credits caused by the old, for a few costs (penalties, handling fees and other).
Every individual does well to take into account several parameters before embarking on the purchase of consumer credit, find more information on this page, including current market trends, the remaining term of old credits, or the conditions of the new loan .
The advantages of buying back credit
The advantages of buying back credit differ depending on the lending institution. That said basically, the goal is to reduce charges and interest and then save money on its old monthly payments at a rate of around 60%, which can be reserved for a particular project or just to save.
We have less calculation to do since there is only one credit left in all and for everything. The subscriber must therefore pay monthly payments and a fixed rate. As a result, he has more time to repay this new loan taken out. In addition, in many cases, the borrower chooses his monthly payment according to the state of his finances.
Several financial institutions offer this type of service today. Besides, to find a good deal, you just have to go online, send an online request, compare the offers so as not to be tricked, and proceed with credit consolidation. Speaking of comparing offers, several tools such as online credit redemption simulation have been made available to everyone on the Internet to make their job easier and prevent the risk of losing money on this type of financial transaction.