The repurchase or consolidation of credits is a banking operation which consists in repurchasing several loans in one, the interest lies in the proposal of a new repayment plan and therefore the reduction of monthly payments. This operation has the particularity of adapting to the needs of the applicant, which is ideal for families who sometimes have atypical situations and who are looking for tailor-made solutions. Full update on this funding and its relationship to the family
In France, 36% of households repaying loans have children, 31% have between 1 and 2 children more precisely. The family budget is therefore at the center of the functioning of most French households and credit is a means of being able to carry out projects, i.e. access to property, financing a family vehicle (see the top 10), or still carry out leisure projects (holidays, outings, others).
All these credits can impact a family's finances, i.e. the monthly payments can become heavy (following an accumulation of loans or life incidents, unforeseen events) and therefore impact the balance between income and expenses. The repurchase of loans allows you to consolidate your credits into one, thus offering to reschedule the repayment period and reduce the amount of the monthly payment which becomes unique.
This financing avoids risky situations such as over-indebtedness, it also makes it possible to stop an accumulation of credits, harmful to the proper functioning of the family budget. This operation has a cost (see the Lefinanceur.fr simulator to get an idea of the reduced monthly payment), and the applicant must in particular meet certain prerogatives, that is to say that credit institutions impose admissibility criteria (maximum debt ratio, minimum amount to live on, fixed income, permanent contract or equivalent, absence of bank details, etc.).
Life sometimes has surprises in store for us, both professionally and personally, a separation or a divorce are no longer trivial facts, customs evolve and so do household lifestyles. Simply, in the event of separation, the repayment of credits becomes complicated because a loan taken out by two implies solidarity of the debt, that is to say that the borrower and the co-borrower are both concerned by the full repayment. credit.
Setting up a redemption of credits during a separation is possible, it simply requires the agreement of the co-borrower, except that generally, the former spouses will not set up a redemption of their loans to continue a joint repayment, it is often one of the two spouses who repays the debts, thanks to the redemption of balance.
In the context of a mortgage, the divorce judgment must be pronounced or the separation must be recorded (breach of contract, in the context of a PACS for example), the borrower who will take over ownership of the property must proceed with his ex-spouse to the liquidation of the property before a notary (see here for the cost), the latter will define the amount of the project to be bought, that is to say the share (or balance) of his ex-spouse for full ownership to be awarded to him. As soon as the liquidation of the property has been pronounced, the former spouse is freed from all ownership and therefore from repayment of the debt(s) (if there are, for example, consumer loans in progress).
The borrower who has recovered the property can then undertake his loan buyback or loan consolidation project to readjust the monthly payments to his repayment capacities.
Some family situations raise questions, as is the case with large families. Consumption costs are higher than for a traditional family, it is necessary to be able to feed the members of the family and ensure the proper functioning of all the other items of expenditure (clothing, leisure, school, etc.). The credits make it possible to carry out projects, but also to support the consumption of certain households (as with the revolving loan for example).
As part of a loan buy-back, the situation of the family is assessed as a whole and it is good to know that family allowances are taken into account in the feasibility of the project. The age of the children is essential for the study because the credit institution will calculate the amount and duration of each allowance paid. Beyond that, traditional income is taken into account and it takes at least a long-term contract (permanent contract, holder) as well as fixed income for the financing to be granted.
In terms of student loans (conventional and state-guaranteed loans), two scenarios arise. The student redeems it (with or without other credits) when he becomes an adult, this allows him to reduce his monthly payments and start an active life more serenely. In another case, the student can have his loan redeemed by his parents. The parents are often the guarantors in the event of non-payment, they can then assert their right to buy back the credit.
The loan between individuals is currently in full growth, it must be said that with the last financial crisis and the profits of the banks, the households seem to have less and less confidence towards the financial organizations. As a result, they increasingly favor the use of credit between individuals, especially for households who cannot benefit from financing due to their personal situation (files, loan refusal, fixed-term contract, temporary work, etc.).
This approach also works with the repurchase of credits, one can solicit a relative for example to ask him to repay his current credits, in exchange, the creditor undertakes to repay the debts and interest over a longer period. This solution is practical and is based on a more human exchange, simply it is necessary to contractualize this exchange so that the creditor and the lender are not harmed (see the list of tax obligations). A contract must be drawn up including the reimbursement terms and specifying the possible clauses between the parties concerned.
