Unlike the loan allocated for the purchase of a product (real or conso) well defined, the personal loan belongs to the category of consumer credit. The borrower can use the funds obtained as he wishes to finance personal needs or purchases of everyday consumption.
The personal loan must be repaid over a predefined period with monthly payments and a rate that are set in the contract with the lending bank.
What you need to know about buying a loan with a personal loan?
The borrower has the possibility, if he wishes, to resort to the repurchase of personal loan. This solution mitigates the risk of over-indebtedness.
Indeed, the repurchase of credit is a financial operation allowing a borrower to consolidate all of its loans (personal loans, loans, real estate, consumption, revolving loans …) and other debts in one and the same credit at the best rate. In this way, the credit repurchase body in charge of the file, negotiates with its banking partners the recovery of outstanding debts of his client to allow him to start on a model of deduction adapted to his financial possibilities.
The amount and duration of monthly payments will also change. In this way, it is then possible to pay off debts faster by reducing the repayment period and increasing the amount of monthly payments. On the other hand, for households that have difficulty repaying their loans, it will also be possible to extend the repayment period in order to benefit from less significant monthly payments.
The personal loan buyback applies to owners and tenants whether they are employees, self-employed or retired. The repurchase of personal credit can be made without guarantee if it is lower than 90 000 euros.
Anyone with this type of debt can claim a credit redemption (only people who are prohibited from banking will have to own their property in order to access it).
How to proceed with a personal loan redemption?
Making a request to buy personal credit is a very simple procedure to perform. All you have to do is go to the website of a specialized credit redemption agency and request a preliminary study. A questionnaire to be filled out will then be communicated to you and the personal loan buyback organization will then be able to study the feasibility of your project. He will then come back to you to make you a proposal adapted to your needs according to your financial possibilities. You will then be free to accept their proposal.
Credigo, a specialist in the repurchase of credit for more than 20 years, offers this type of solution. Simply visit our simulator to obtain an initial estimate of the amount of the monthly payment obtained after your purchase of personal credits and to request a preliminary study by our specialized advisers. The simulation and the quote are free and without commitment.