The repayment of several consumer and / or real estate credits increases the monthly expenses. If you are a single borrower, widowed or divorced, however, it is possible to reduce the monthly charge of credit repayment through the purchase of credit without a co-borrower to the extent that you are on a permanent contract and that your financial situation allows you under certain guarantees.
I request a credit redemption alone!
But before making a consumer credit with a low income or a single salary, it is useful to make a quick history of your account. Indeed, creditors look at things like your debt ratio, for example, to determine whether or not they can lend you the money you need. The debt ratio is determined by comparing your monthly resources against your monthly expenses.
As a financial solution, the credit pool allows for multiple credits in one, with monthly payments over a longer repayment period, a significantly higher cost but a lighter budget easier to manage.
The buyout of credit alone following an accident of life
The vagaries of life (divorce, death of the spouse) often lead to a deterioration of the financial situation. Sometimes even in considerable proportions, 75% of the over-indebtedness results from accidents of life. In an unexpected change, current credits are one of the central issues. Before your situation deteriorates, solutions can help you anticipate and better manage your finances. Credit consolidation can be an appropriate solution.
The purchase of credit with a single salary following a divorce
Divorce proceedings can result in very significant financial expenses: firstly, common property is distributed, in which case the spouse who receives a larger share must pay a cash payment to the other spouse. This balance or sum of money is defined in the conciliation order and its amount is indicated in the liquidation certificate drawn up by the notary.
The repurchase of mortgage gives you the opportunity to buy back your cash. This financing solution allows you to collect in one monthly payment, your own personal loans (consumer credit and revolving credits) in progress as well as the payment due to the former spouse. If consumer credit has been jointly purchased during the marriage, the borrower and the co-borrower are required to continue repaying it until the end of the loan or to anticipate repayment.
However, the charges you must assume remain the same; rent, electricity, water, telephone, the possible credits contracted in your own name as well as your share of the repayment of the credits contracted in common …. Added to this are additional expenses, such as possible alimony or your taxes now calculated on your own.
Income is divided by two, since only your salary remains to regularize these expenses. In this case, a repurchase of loans can be useful. It allows you to consolidate all your monthly loan payments as well as a possible delay of tax or bank overdraft in a single monthly payment. Managing your budget becomes easier with a single monthly charge for all your single rate and insurance credits.
The purchase of credit with a single salary following the loss of a spouse
Many questions arise when the spouse loses. The most frequent questions concern the organization of funerals and the future of current credits. Real estate loans are systematically covered by death insurance. In this case, the insurer pays the reimbursement according to the terms of the contract.
Consumer credit, on the other hand, does not have any insurance obligation. You are considered a solidary borrower, without this life insurance, you must repay the credits that have been subscribed to both names as those in the name of the deceased alone.
The loss of a salary makes the regularization of these debts difficult, the repurchase of credit can help you to face the fall of the income of the home by reorganizing your budget around a single monthly payment. To find out about the possibilities available to you, simply simulate your online loan buyback with or without cash in a few clicks.
Simulation and study of your file are completely free and without commitment. Upon receipt of the complete file, a financial advisor is responsible for its analysis and negotiates with our banking partners the offer best suited to your needs.