Have you accumulated several loans and found yourself in a difficult financial situation? A credit repurchase could be just the thing to help you regain some financial stability. At Kredit Konnect , we can offer you a credit repurchase package tailored to your situation, with advantageous conditions to enable you to repay your debts under the best possible conditions. A credit repurchase involves combining several loans into one, with a single monthly payment and an interest rate that is often more advantageous. This solution can help you reduce your total monthly payments and regain a certain financial comfort.

What is credit repurchasing?

Credit repurchasing, also known as credit consolidation or debt restructuring, is an operation that enables you to combine the monthly payments on several loans into a single loan, and thus be charged a single monthly payment.

With the development of the Internet, credit consolidation applications can now be made directly online. But it’s essential to understand the fundamentals, the pitfalls and the best practices of this operation.

The principle behind credit repurchasing is relatively straightforward: indebted households turn to an institution other than the one that initially granted them the funds. The latter then balances all the loans with the various creditors (whether real estate and/or consumer loans) and replaces them with a new contract at a more attractive rate and with an adjusted term.

Credit repurchase: an alternative accessible to all

Generally speaking, anyone with one or more loans is eligible for a consumer credit repurchase. In fact, loan consolidation is accessible to everyone, regardless of their personal situation:

• Tenant, owner or free lodger.
• Young or old.
• Salaried or retired.
• Workers on fixed-term contracts.
• Temporary worker: subject to the presence of a co-borrower with an open-ended contract.
• Craftsman, shopkeeper or self-employed,…

In short, this operation is accessible to as many people as possible. Whether projects are underway or in the construction phase, you can qualify for a credit repurchase. Objectively speaking, loan consolidation is based on the subscriber’s profile.

Based on the applicant’s personal (married, single, divorced, with or without children…) and professional profile, this financial alternative takes into account the debts contracted with the various banking establishments and includes the total outstanding capital. This operation also includes foreseeable and incompressible current expenses:

• Energy,
• Transport, Food,
• Rent,
• Reimbursement of any alimony paid.

Secondly, all these elements are deducted from the income (salary, government grants, etc.). The aim is to assess the subscriber’s borrowing capacity, his or her living allowance and the amount of money he or she is able to allocate to loan consolidation each month.

What types of loans are eligible for credit repurchase?

1. Objectively speaking, many types of loan are eligible for a credit repurchase. All in all, this operation enables you to consolidate the vast majority of your loans. In more concrete terms, here’s an overview of the options available to you to bring your finances back into balance:

   • Real estate loans at fixed or variable interest rates, with or without mortgage.
   • Buying an overdraft from a bank.
   • Revolving credit.
   • Personal loans.
   • Car credit.
   • Construction loan.