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What is the credit redemption? – Loan consolidation

The credit buyback operation is often at the heart of the debate, but what is really the purchase of credits, also called credit consolidation or renegotiation of loans and restructuring of credits not to mention the title consolidation credit (list not limited).

Credit redemption is a credit that includes several credits.

It involves at least two claims, the nature of which may be different.

This can be a real estate loan or two real estate loans, but also a revolving credit also known under the trade name reserve money, in the same way as a personal loan or a Lease with Purchase Option (LOA)…

The loan consolidation is to obtain a reduction in the monthly payments of credits in repayment and thus better manage all the monthly expenses of a household.

A loan buy-back operation has the positive effect of facilitating the repayment of the various remaining capital owed by the borrowers to the various creditors.

The repurchase redemption of credit

Credit Repurchase Repurchase (RAC RAC) describes the action of a new loan- buyback credit that combines several credits, one of which is already a pooled credit.

When it comes to a RAC RAC, the debtor again recouped new debt despite a previous buyback of consumer credit.

This will inevitably have an impact on the borrower profile, the bank will then be more attentive during the investigation of the client file and thus carry out an in-depth analysis of its financial situation.

This is because the risk of delinquency is more likely when a repurchase redemption, the proposed interest rate is higher.

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