To settle the debt ratio of a household, you can request a loan redemption which is a loan system to consolidate all or part of the credits in progress, in order to reduce the monthly repayments. In order for the lending rate to be reduced, it is important to extend the repayment term by means of credit renegotiation or loan consolidation. To obtain a credit surrender, you must complete the necessary files required by your lending institution. This allows the lending institution to evaluate your financial situation and find a solution that meets your needs.
What is a credit redemption?
First of all, it is important to define what is a repurchase of credit . If a debtor wants to combine his previous debts into one, then the repurchase of credit is the only solution at his disposal. Consolidating its debts reduces the amount of money repaid each month to the lender whose debtor could enjoy a comfortable life by saving. When you want to get more information about the credit buyback offer, you can shop around at many financial institutions or banking organizations. Once you have found the renegotiation proposal tailored to your expectations, you will just need to follow the procedure for preparing the loan redemption application file including the necessary papers and vouchers.
The necessary paperwork for the application for a repurchase of credit.
To obtain a loan buyback, you must provide a few important files below:
- Passport or identity card, proof of address (EDF invoice for example), family record book, marriage contract and other documents that justify your marital status.
- Latest pay slips, certificate of work, tax notice and vouchers for your income.
- Latest bank statements and list of outstanding credits, records that indicate your significant expenses or financial charges.
Note that the credit redemption criteria vary from one institution to another. In addition, after the filing of the file, the lending institution will examine it first for several weeks or months.