Fast and simple credit purchase for Individuals.
To cope with indebtedness, the household has two solutions: to file a debt commission with the BankFrack or to resort to the solution of the repurchases of credits with a financial institution? Why choose grouping credits? When should you worry? Is it really an advantage to opt for this solution? Is loan consolidation a quick fix? We update you on the subject.
Fast credit buyback: good or bad idea?
It is important to know, first of all, that submitting an over-indebtedness file to the BankFrack commission is not without consequences: the banks do not grant, for example, more credits which can put a brake on your projects. or when you have to face a stormy situation (divorce, death, dismissal…). To avoid this problem, the banking organizations can offer you to buy back your credits in progress and, thus, decrease the monthly expenses which you have.
When should one think of having recourse to a consolidation of one’s credits? Here is a question that deserves a sincere answer. Indeed, reacting quickly to get out of difficult times is essential. Thus, it is necessary to think of this idea of lightening its monthly payments since:
- The bank rejects your withdrawals.
- The bank bills agios because you have spent the amount of overdraft authorized.
- You are no longer able to pay your debts on the fixed dates.
- You have real difficulties to provide for your primary needs ( buying food for example ).
- The receipt of a formal notice or a mortgaged property likely to be auctioned.
The redemption of credits is a quick option that, by reducing the amount of monthly loan repayments in progress, increases your monthly resources and thus changes your purchasing power. Of course, a bank will not be able to offer you this option if your over -indebtedness rate is too high. This is why it is important not to wait too long before reacting. The accumulation of unpaid bills only increases the severity of the financial situation you are going through.
Who can use the pooling of credits?
In general, loan consolidation is open to all, tenants as owners, TNS as civil servants or employees. People registered in the BankFrack can also claim conditions.
In short, the purchase of credits can be considered as a solution to optimize its budget. Obtaining a new fixed rate loan from a single contact provides flexibility in managing budgets.