A borrower has the possibility of reducing the monthly payments of his credits, the grouping of loans is a banking operation allowing a reduction which can extend up to 60% of the amount of the current monthly payments.
Credit: decrease my monthly payments
The accumulation of credits can become a constraint for the finances of a household. The monthly payments are piling up, the debits on different dates from the due dates as well as the high debt ratio limit the budgetary capacities of the household.
The grouping of loans is an operation whose main goal is to reduce the amount of monthly payments of a mortgage or a consumer loan, we can group all types of loans together and the reduction can extend up to 60 % of the current amount of monthly payments.
Redemption of credit to reduce monthly payments
In operation, the specialized organization offers the borrower to buy back his credits, in this case he repays the old lenders and proposes to the borrower a new contract. This new contract will take over the remaining amount to be reimbursed for credits, the costs linked to the operation and any amount for a new project.
In the end, the amount is spread over a longer repayment period, which reduces the amount of the new monthly payment which becomes for the single hit. The rate is also unique, it varies according to the nature of the grouping of loans which can be real estate or consumption.
Like all credit operations, the grouping of loans is subject to a feasibility study and acceptance by the credit institutions. For this, the borrower simply needs to turn to one of these specialists, the organization takes care of everything. He will send the repayment to each lender and will take care of closing all the credits. He will assemble the file and send the borrower a loan offer to sign.
To start the process, the first step is the simulation of loan buy-back, it is free and without obligation. Just fill in and validate the form.
Redeem a social accession loan (PAS)
The social accession loan has the advantage of being based on a particularly low rate, which is advantageous for households who cannot necessarily afford to own property. Simply, the vagaries of life can cause a financial imbalance that the repurchase of credit can restore.
Credit consolidation involves redeeming several debts and obtaining a new credit with a longer duration and a lower monthly payment. The PAS loan can be the subject of a credit buyout simply the proposed rate being often advantageous, this requires a thorough study.
It is possible to exclude the PAS loan from the repurchase of credits in order to preserve the advantage provided by the low rate but in certain cases, no solution is possible without having the PAS credit taken over .
The best solution to find out if buying back credit is possible with or without repossessing the PAS loan is to carry out an online simulation. It’s completely free and without obligation. This will precisely define the amount of the future monthly payment and the total cost of the new loan.
Two fundamental elements to compare a situation before and after financing. For the simulation, you can go to the credit buyback request page .