A repurchase of consumer credit consists of bundling several consumer loans. This operation allows you to pay all your old outstanding credits in a single installment, with a better interest rate. However, like other bank lending products, the implementation of this solution is subject to the discretion of the banks.
So how do you put the odds on your side to get a consumer credit purchase? Here are our recommendations.
Build your case well to get your consumer credit repurchased
Before granting you a credit pool, the bank you are contacting will logically review your file. In order for your request to be processed and validated quickly, it is therefore important to prepare it carefully.
As part of the consumer credit buyback request, you must provide:
- A copy of both sides of your national identity card or passport;
- Proof of address dated less than 3 months (particularly water or electricity bill).
Parts required may vary depending on yours borrower profile. For example, if you have a co-borrower, their ID may also be required.
The supporting documents for the various consumer loans
The specifics of the credit buyback offer depend on the different loans you wish to consolidate. Therefore, for efficient and quick analysis, try sending all files credit agreements at the bank. Join them personal loan amortization schedules and the latest revolving bank statementsif applicable.
If you are the owner of the accommodation where you reside, you will be asked for a copy of the title deed or purchase deed. If you are a tenant, however, you must provide the last three rent receipts.
Proof of income
For an employee, a copy of the 3 last payslips must be attached to the file. If you are in a liberal profession, please provide a copy of the 4 slips of the last tax notice. A photocopy of your most recent bank statement may also be helpful.
Remember that the more stable your professional situation, the more likely you are to win your case. Don’t hesitate to highlight your strengths: CDI (current), fixed retirement, long experience in the profession or within the same company.
In addition, the bank takes into account the management of your finances: savings, debt-to-GDP ratio, frequency of spending, etc.
Compare the different consumer credit buyback offers
In terms of credit consolidation, the offers vary from one institution to another: rates, new repayment deadlines, implementation deadlines, etc. To choose the offer that best suits your current situation, take the time to compare.
Here it is a question in particular of comparing the final cost of each operation taking into account, in addition to the generally proposed interest rate, the additional costs as the file feesas well as the amount ofborrower insuranceif applicable.
To compare effectively, don’t hesitate to do several simulations online.
Choose the ideal intermediary for your purchase of consumer credit
To simplify the process and get the best possible conditions for your consumer credit purchase, it can be very useful to use the services of an intermediary. In this context the a broker specializing in the purchase of consumer credit is your best ally.
In addition to helping you build a consumer credit repayment file that is as attractive as possible, this professional takes care of finding the most advantageous offer for you. Better, thanks to his experience in the field, can negotiateon your behalf, optimal conditions with the organization or bank willing to support you.
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