Discover loan consolidation companies
Payday debt consolidation companies offer a varied offer to meet all your needs and the specificity of your financial situation. For example, the payday loan consolidation from Consolidation Now will allow you to consolidate your payday loans.
Who is the credit redemption for?
The purchase of loans is for homeowners wishing to reduce their debt ratio, and thus increase their monthly “rest to live”. The debt ratio is the share of your expenses in your monthly budget. This solution, also called loan consolidation, aims to replace several existing loans of different durations and rates, a single credit, over a period generally longer. The redemption of credits makes it possible to include in the new loan if you wish, the financing of a future project (the purchase of a new car or the financing of works for example).
Good to know: the purpose of this operation is to reduce the monthly repayment charge when setting up the credit by extending the repayment term of your current debts. This can be seen as a consequence of increasing the cost.
Technically: after study and acceptance of your file, the bank that makes the redemption of credits will release the loan funds to repay your old loans. These loans are fully repaid and you will not have any maturities to settle every month. Your grouping credit works like a “classic” credit. You will pay each month a repayment deadline.
What are the steps to your request?
To make your online credit redemption request, you must first complete our loan application form available on most of the product pages of our website. Entering this form takes only a few minutes. Once completed, an advisor will contact you by phone to review your financial situation, to establish what is the best Bank credit redemption solution tailored to your needs. After completing the request for information we will send you, you must send it back to us by post along with the necessary supporting documents. Subsequently, after a complete study of your file and the documents provided, we will give you a definitive answer. Finally, in case of a favorable response, you will receive by mail an offer of the loan consolidation loan.
What are the different means of distribution?
There are different types of credit redemption companies :
- The bank repurchases credit: it has specialized commercial advisers who propose solutions of repurchase of credits adapted to the situation of the customer and which accompany it from the assembly of the file until the financing.
- Intermediaries in banking operation, specializing in credit redemption. Their role is to connect the applicant with one or more banks according to their needs and market offers.