Credit Cluster – Why Buy Back Credits?




By restructuring several credits in a single loan at a single rate, the pooling of credits (also called debt restructuring or loan redemption) allows households to regain some financial peace of mind or to find new investment capacity.

I choose my guide to be at the top on the subject! My financial situation The objectives of my credit redemption

A financial situation that has deteriorated

Grouping its loans is a solution to meet households in financial difficulty. These worries are not necessarily due to poor budget management, they may be the consequence of a family change for example.

The Credither Guide lists the situations households may encounter when redeeming credits:

  • Monthly payments or indebtedness too high. Between loan installments and taxes, rents, bills or insurance premiums, it can happen that the monthly payments weigh heavily in a budget, to affect the rest-to-live;
  • A retirement. This event leads to lower revenues, making it more difficult to pay monthly payments;
  • A family situation that has changed. The arrival of a child or the separation of the spouses is necessarily reflected in the household budget;
  • Tax delays. Following an accident in life (divorce, death of a spouse…), a decrease in income or an increase in expenses, it can be difficult to meet the deadlines of the tax administration.

Find a new investment capacity

The grouping of credits makes it possible to lighten your monthly payments and thus to find a certain financial serenity, but it is not its only objective.

By decreasing the level of your monthly payments, you find a new ability to save.

In the same vein, the pooling of credits can give you a new impetus to invest in a new project: real estate acquisition, completion of work, purchase of a vehicle, etc. For this purpose, the transaction often includes cash.

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