Tenants, homeowners, professionals and individuals: the purchase of credit is for everyone. In practice, this procedure mainly concerns households and people who are indebted or heavily indebted and wish to regain purchasing power. In some cases, however, it is not possible to make a credit surrender transaction; we must then turn to other solutions.
Who benefits from the credit redemption
While all socio-professional categories of the population can access the benefits of credit redemption, in the majority of cases this device concerns:
• Over-indebted households or persons (over 35% of their income). The repurchase operation allows to maintain their solvency, without incurring the risk of penalties or legal proceedings. But it must be carried out before an excessive deterioration of their financial situation.
• Households or people in debt, in a reasonable way, who wish to simplify the management of their loans and regain purchasing power. By combining all their loans into one and extending the duration of their loan, they can benefit from a decrease in their monthly payment of up to 60%.
• Households or individuals wishing to renegotiate the rate of their home loan following the decline in the market borrowing rate. Typically, this concerns people who took out a mortgage when the rates were higher than those of today. A repurchase of credit is a good way in this case to lower the total cost of a mortgage.
In which cases is the repurchase of credit impossible?
There are situations where the redemption of credit is not an option, this is the case for:
• the persons registered in the file of the incidents of payment by credit card or check (FCC);
• persons registered in the Banque de France’s credit payment incident file (FICP);
• people who are over-indebted. In this case, it is better to move towards a judicial procedure of over-indebtedness.