How to avoid over-indebtedness?

To finance a real estate project or simply to meet material needs, a large part of the French have recourse to borrowing. This type of financing makes it possible to borrow capital with, in return, the payment of interest. Borrowing makes it possible to buy when a household’s cash is insufficient. Nevertheless, they should not weigh on a budget or at least. However, no one is immune to financial difficulties. In this case, the home will have to look into the management of its budget. Explanations with, expert in credit redemption solution.

Avoid borrowing accumulation

But sometimes, reorganizing your expenditure items is not enough to get your head above water, especially if the household report a bad debt. With an accumulation of debts, it is not possible to make them disappear. An over-indebtedness procedure could cancel these debts but it is also synonymous with filing at the Bank of France. The individual will no longer be able to use a checkbook and will have difficulty financing new projects using a loan. Over-indebtedness should be seen as a last resort solution.

Other banking operations exist and can help reduce a household’s debt ratio. This is particularly the case of credit consolidation. This is an operation whose purpose is to combine several loans into a single loan. To do this, the credits in progress are bought by a specialized establishment which then draws up a new grouped loan offer. The capital remaining due is settled and brought together in a single financing. The financing, or loan repurchase, then makes it possible to repay a monthly payment, the amount of which will be more in line with the current income of the borrowers. If in the end, the extension of the duration may have an impact from a financial point of view, the monthly debt will automatically decrease.

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consumer credits, real estate loan, reduce their monthly payments

The grouping of credits is therefore aimed at borrowers who have at least two outstanding loans. These loans can very well be real estate, consumption or both. Thus, it is not uncommon to redeem your home loan, car loan and work loan during a consolidation. All types of borrowing are affected by this operation.

Depending on the profiles of the borrowers and their income, a new project may be included in the operation. The purchase can then make it possible to finance a new car or work without accentuating the increase in the debt ratio. In this context, the solution of the grouping gives the possibility of avoiding taking out a new loan in addition to the credits in progress. By avoiding this accumulation, the household will thus avoid over-indebtedness.

The repurchase of credit to limit its indebtedness

A request for repurchase of credit does not commit the borrowers in any way. Only the acceptance of a credit consolidation offer will have an impact. But before that, nothing prevents applicants from taking as much information as possible from a banking intermediary specializing in consolidation. The latter know the existing offers on the market and are able to guide individuals in their steps. In this way, the takeover can be approached in a serene and transparent manner.

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