Make a collection of credits to have only one credit to repay is a response to a debt problem too high. A high personal debt ratio which is a hindrance to obtaining a cash flow or a good refund of the monthly expenses of the various credits subscribed.
Can I make a credit redemption on a credit redemption?
Yes, it is entirely possible to make a credit redemption on a credit redemption through a loan redemption bank. Indeed, there are products called repurchase repurchase which have like operation of regrouping in the plan of Brighellament several credits (consumption and real estate), and the capital remaining due of a restructuring loan.
From one bank to another, the criteria of admissibility (pre-and post-operation debt ratio, amount of money borrowed since the previous buy-back, seniority of the group loan, etc.) vary. As a concrete example, last week one of our advisors had to solve a request to study a mortgage repurchase case whose difficulty was to find the loan pooling bank that agrees to take over guarantee (mortgage) a property in joint ownership.
Another example among many others, the files whose debt ratio before redemption is greater than 100% is not receivable by all the banks of the market, only some of them agree to study this type of customer file. For this reason, an intervention through a pooling broker is highly recommended for obtaining good advice in order to successfully complete a credit consolidation transaction.
Can we buy back a loan buyback?
Although it is possible to redeem credit on a credit surrender, it is not possible to redeem a credit surrender. In other words, it is not possible to renegotiate interest rates on a restructuring loan as renegotiation of a home loan can occur.
To redeem a pool of credits, at least one other debt must be repaid. By definition, the grouping of credits indicates the repurchase of several credits, that is to say at least two. The redemption of bank overdraft or debt (family, personal or tax) is considered a line of credit.