The consolidation of credits, or redemption of credits, is a relevant solution to optimize your budget. It makes it possible to combine all your scattered loans into a single loan. This unique credit, much easier to manage, is one of the conditions for better control of your finances. It is still necessary to take some precautions to succeed in this financial operation. These few tips can help you.
Call a professional
Negotiating with your banker can leave you a bit helpless. This is why it is preferable, to negotiate your restructuring of credits with the bank, to use the services of an expert. This qualified professional is an intermediary in banking operations and payment services (IOBSP).
This broker knows the financial markets and the intricacies of credit consolidation perfectly. With his expertise, he will be able to negotiate the restructuring of your credit under the best conditions. In particular, you will be able to benefit, thanks to its informed intervention, from an advantageous interest rate.
Your broker therefore puts his know-how at the service of your interests. He is also in the best position to help you compile your file in the required forms.
In this area, the credit consolidation intermediary Partners Finances is the leader on the French market as an IOBSP intermediary in banking operations and payment services.
At the same time, you can use online simulation tools to get an idea of the monthly payment that will be offered to you.
Before considering a grouping of credits, it is advisable to review your budget. Only a careful and rational examination of your finances will allow you to know if this operation is necessary, or at least useful.
To do this, you need to take stock of your expenses. If some are constrained, it may be that others can be lightened. If, despite everything, your credits take up too much of the expenses, buying back credits may be relevant.
Also take the time to review all your credits and assess the total amount of monthly payments.
It is also not unimportant why you thought of this solution. Is it essential to allow you to balance your budget? This greater financial ease is perhaps intended to finance work in the house or to pay for the studies of the children.
In other words, it is undoubtedly useful to assign yourself an objective before requesting a grouping of credits.
Pay attention to fees
Be careful on this chapter. The grouping of credits, if it is well negotiated, can allow you to make a significant saving. On condition, however, that the costs incurred by this financial operation do not cancel it.
In fact, they are not negligible. First of all, you have to take into account the application fees. The remuneration of a possible broker must be taken into account. Do not forget, however, that the intervention of a professional is often the best solution to make real savings.
Also pay attention to the cost of insurance. It may be that, taking into account your age in particular, it is more expensive than for your previous credits. In this case, do not hesitate to negotiate with the banker.
Indeed, you are not obliged to accept the insurance formula that he offers you. Thanks to the insurance delegation system, you can take out an insurance contract with another organization. Make sure that the formula you choose provides you with the most suitable cover for advantageous rates.
And don’t forget to ask your broker to clearly tell you all the fees you should expect.
Gather the necessary documents
A certain number of documents are necessary for the constitution of your file. These include your payslips, tax documents, account statements or an identity document. Make sure to file these documents, which will make it easier for you to respond to requests.
The faster you gather the documents requested by the bank, the faster your file will be processed. This diligence should not cause you to forget a single document. In this case, your file would be incomplete and you would have to start all over again.
Some establishments may ask you for further documents. Do not be reluctant to provide them, even if this procedure may seem tedious to you. It can be the counterpart of an interesting grouping of credits.
Provide copies of these documents rather than the originals. These can be useful to you, particularly in the context of negotiations with other organizations.
Is the grouping of credits really interesting?
Despite appearances, the grouping of credits may prove to be a less advantageous operation than expected. It is therefore advisable to check certain points before requesting a restructuring of your credit.
The first of these is the moment chosen to undertake this operation. Beyond a certain duration of your credits, their grouping becomes less profitable. This is the case if you have already paid half of your due dates.
It is then important to study the difference between the proposed rate and those applied to your current credits. If it is too small, it is not sure, there again, that the operation is really profitable. In this regard, the advice of a professional will be very useful to you.
It is still he who will be able to best assess whether the total cost of the new credit, even beyond the attractive rates that may be offered, makes the grouping of credits really interesting.