Innovation and startup: how to buy back credit?

To renegotiate their debts, some debtors often opt for the credit repayment technique. It is possible to do this on a current credit, but also on all your credits. Keep in mind, however, that it is important to know the type of debt involved in this transaction and how you need to proceed.

The repurchase of credit: what is it?

The repurchase of credit is an operation carried out in the financial field, or more precisely in the context of bank loans. It aims to reduce a debtor’s monthly repayment rate by grouping the credits assigned to him. This technique aims to avoid excessive debt by repurchasing all credits in order to combine them into a single credit.

A ransom for what kind of credit?

There are different categories of debt affected by the repayment. There are 3 credit classes:

Debtors take out mortgages when they decide to buy or build a property. This type of debt to the bank is one of those affected by the acquisition given its importance and the number of individuals who opt for this type of loan.

Secondly, consumer loans relate to loans granted in connection with various personal projects other than the construction or purchase of real estate. This credit category, which you can also redeem, includes a wide variety of debts. They can be related to travel, paying school fees, medical needs, a home improvement project, buying a car, and more.

Thirdly, keep in mind that the repurchase of credit also concerns revolving credits, to which everyone can subscribe by credit card. In addition to this, some specific debts can also be redeemed to lighten the monthly fee: bills of exchange, taxes and various traditional debts and loans (one of which to relatives).

The repurchase of credit in 5 steps

Before informing yourself about the various credit repurchase techniques, know that for the constitution of certain files, of which those relating to unpaid invoices, you have the possibility to convert a JPG file, or an image or a photo, into PDF with ‘ this tool and Adobe guide for conversion.

The first step is to make a request to be sent directly to a financial institution or online via the Internet. The institution in question could be a bank, but also a company specializing in credit.

The second phase is that of education, that is the verification of the supporting documents by a consultant.

The third step is the feasibility study. This is done by the organization you contacted. The analyst in charge of the practice will take into account your ability to repay, your level of debt and the means at your disposal for repayment (health, mortgage, age, etc.).

Finally, the fourth step is to receive the offer, provided that the request has obviously been validated. This contains all the details related to the refund: value, refund period, refund method, etc.

And finally, you have the release of the funds in the fifth step.

Leave a Comment