As a consumer, you are aware that the economy is critical and that it is becoming increasingly difficult to save as well as to make ends meet. It’s a fact ! One in two households living in France is having trouble with their cash flow. But France is not the only country that meets this scourge. In Luxembourg, for example, 60% of owner households were in debt (2014 data). England and Germany are also affected by this scourge. Faced with this alarming fact, banks and credit organizations are proposing the redemption of credits. Does this financial operation apply to everyone?
The redemption of credits: concept and for whom?
There are two situations: indebtedness and over-indebtedness. Let’s understand the difference between these two notions:
- An over- indebted person has a bad financial record. She usually lives above her means leaving room for unpaid bills. To try to find a good living condition, you must file an over-indebtedness file with the Lobec Bank of your place of life. Over-indebtedness has consequences such as the checkbook prohibition or the prohibition to take out new loans.
- An indebted person has an unstable financial balance sheet, but remains able to pay his expenses. In this situation, it is possible to turn to a financial institution to make a check-up of its financial position and open rights, if any, to a purchase of credits. The purchase will reduce the monthly payments of credits and optimize the budget.
Who can request a consolidation of credits?
Although this type of operation is for everyone with at least two credits to renegotiate in terms of consumer credit or a current mortgage, we must be lucid, banks only give it under conditions. Thus, when one is stuck in Bank of France, it is difficult to access this lifebuoy. However, we must not lose hope. If a bank (or a credit institution) refuses your file, another one is able to accept it. Indeed, there are organizations specializing in the redemption of credits that analyze the demands of people in financial difficulty. Owners stuck in the Lobec Bank, for example, can access it if they provide strong guarantees (mortgage of real estate).
Making comparisons using online comparators remains a good weapon. If you have no knowledge of the financial market, know that it is possible to send agents. Agents are experienced negotiators who work to find the best solution for your profile.