Friday, January 11, 2008

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BUY CREDIT: OPERATION

BUY CREDIT: OPERATION

How to reduce your monthly payments by redeeming your credits?
The purchase of credits is consolidating your different loans into one loan from a bank that buys your credit and that becomes your sole creditor. This does not necessarily change banks

regroupement de crédit par le rachat de l'ensemble des crédits
The purchase of credits you can lower your debt ratio by spreading reimbursement of monthly payments and thus reduce the monthly repayment of your loan.

baisse des mensualités par l'allongement du crédit
The purchase of credits you can also reduce your debt ratio below 35% of your income if you were on top.

baisse du taux d'endettement baisse du taux d'endettement
DANGER
OK

rate debt to 56%
represents a dangerous imbalance between your income and expenses

debt ratio to 30%
situation better suited to your financial

Calculate your debt ratio :
total monthly credit / total monthly income = your debt ratio

Example of calculating the debt ratio:
estate loans + credit consumption 1600 € / month, divided by your income of 3 000 € = debt ratio of 53%

To achieve a debt ratio of 25%, reduce your monthly payments to 750 €

Free study to decrease its debt ratio
What guarantees are made?

safeguards needed are: assignment notified on salary, life insurance and possibly mortgage 1st row.

What amounts of credits is it possible to restructure?

Refinance

1 - You are a tenant
It is possible to restructure up to € 15 000 € 76 000 credits over a period exceeding 10 years.
2 - You own
Without mortgage it is possible to restructure € 15 000 € to 122 000 credits over 10 years. Beyond 10 years and € 122 000 credit, it is necessary to take a mortgage on a property. Then you can spread your repayments up to 25 years and receive a redemption of your credits up to an amount equal to the value of the property provided as collateral.

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