If many households opt for a credit buyback operation, it facilitates the management of personal finances. When the total amount of loans to be bought back reaches 100000 euros, loan consolidation is quite possible. On the other hand it is important to take into account the fact that it is preferable to apply to an organization specialized in credit buyback, because they are professionals in this type of financial arrangement. The primary ambition of a credit buyback operation is to be able to have a perfect mastery of its debts. With a single global debt that includes all repayments, repayment of € 100,000 credits makes life easier.
The operation of the purchase of credits 100000 euros
The advantage of the redemption of credits is that it allows you to manage only one financial institution. All credits, but also all existing debts, are thus collected in a new single debt. This is a credit subscribed with new conditions in a new loan agreement. The monthly payment will also be unique, and for an amount of 100000 euros borrowed, the borrower will have the opportunity to choose a decrease in the monthly payment for a longer repayment time, or on the contrary an increase in the monthly repayment amount for a duration shorter. The purchase of credit provides a more serene credit management and can also reduce the costs associated with it.
For an amount of 100,000 euros and to obtain financing at the best rate and especially adapted to the situation of each borrower, it is essential to call on experts. With a strong experience in this type of transaction, they will be able (whether brokers or intermediaries in banking operations and payment services) to set up the fairest monthly payment. The goal is primarily to reduce the amount sufficiently, so that the rest to live can be increased. This solution necessarily leads to an increase in the repayment term of the credit, which will increase its total cost.
To negotiate a personalized financing of 100000 euros with banks and credit organizations, you need to have experience. Because these financial institutions will propose the repurchase of all the debts, by selling all the remaining capital due. These can be composed of consumer loans (credits allocated car, motorcycle, work, personal loans, revolving credits, etc.) but also various debts (late payments of bills, rents, family debts, tax debts, tax arrears, housing tax, etc.). On the other hand, home loans can also be included in the purchase of credits of 100,000 euros, whether it is a loan for the purchase of real estate, for a construction or extension, or Works.
The interest rate on the redemption of credits is always fixed and unique and will not change during the life of the new credit subscribed. The contract provides for the signing of all credit conditions, fees, the amount of the single monthly payment and the terms of repayment. It is a matter of making a financial package tailored to the means of the borrower. When the income is not too important it is better to choose a suitable monthly payment, and vice versa if they allow it, so it is better to choose a slightly higher monthly payment to limit the repayment period.
The conditions to make a redemption of credits of 100000 euros
When a borrower wants to buy a loan of 100,000 euros, he must first know his repayment capacity and its level of debt. This ability to repay a credit corresponds to the total revenue that can be allocated to the payment of monthly installments. In general, it will not exceed a debt ratio of 33% of monthly income. Beyond this, financial organizations refuse to grant credit in the majority of cases. The only exception is the case of a household with a comfortable income, to which a debt ratio of up to 42% can be granted under certain conditions.
Thus, the redemption of € 100,000 credits is subject to strict conditions of eligibility. The bank accounts of the future borrower will be scrutinized, this means that the accounts must be kept impeccable, with a payment without incident of all the previous debts. A good management of his finances is absolutely necessary to see his file accepted, because it proves above all the seriousness of the borrower. Having a savings capacity is always an asset.
It is possible to make a redemption of credits of 100000 euros with or without guarantee. With a guarantee, it will be a mortgage credit, that is to say with mortgage of a property. When there is no mortgage, the amount of the redemption of credits is capped. Tenants will only be able to borrow up to 100,000 euros, while homeowners will have the option of going up to 200,000 euros. The latter can even borrow more than this sum, but on the condition of subscribing to a loan with a mortgage. The repayment period of a redemption of credits of 100,000 euros can not exceed 12 years.
In order to properly prepare an application for the redemption of credits, all the documents to be provided must be gathered, namely all the loans and mortgages with the remaining capital due and the depreciation tables. It will also prepare the last three bank statements and better wait until they are flawless before filing an application. The request can be made online but also by phone. Advisers are listening to applicants throughout the day on many websites.
Start with an online simulation
To evaluate the possibility of a € 100,000 buy-back operation, it is necessary to systematically use an online simulation tool. This allows to know in a very short time the feasibility of the project in relation to the personal and professional situation. The simulator also gives the possibility of receiving at the same time several offers from which the borrower can make his choice, according to his means and the nature of his project. These tools also display an estimate of the future monthly payment, which makes it possible to get an idea, even approximate from the beginning.
Once this first step is completed and the borrower has chosen the offer that suits him best, he can build his file and send all the required supporting documents. An analyst, a true expert with a great deal of experience, will then be able to establish a real tailor-made financing file. It is at this point that the borrower has the opportunity to request the grant of additional cash in the form of cash. This is granted under certain conditions, and may be used to finance a new project or purchase.
The personalized loan offer of 100,000 euros is sent as soon as the file is validated. After a period of reflection of 10 days the borrower can sign it. He will always have 14 days of retraction period granted by law, even if the payment of funds was made before that time. It will have to repay the amount collected plus interest for the period.