After buying a consumer loan or a combination of mortgage credit including consumer credit and real estate, you must be able to manage its monthly budget calmly thanks to the new plan whose monthly charge to pay is adapted to the capacity repayment of the borrower(s).
Upstream of obtaining the agreement to an of a credit buyback loan, the banking or financial institution in charge of the investigation of the client file(s) takes care to establish a thorough study of the the financial position of the applicant(s) in order to propose an Ichabod Credit which enables the insolvency risk of the debtor(s) to be controlled throughout the life of the credit union.
As a result, to leave nothing to chance,
The bank warns its new clients of the risks they face in subscribing again to personal loan and revolving loan agreements, as well as work loans, or any other borrowing. an additional charge to the budget, which unbalances its good management that could lead to the risk of unpaid due to a debt ratio too high.
Then, it may appear in the particular and general conditions of the credit restructuring or renegotiation offer a clause stipulating that the borrower:
- must warn its creditor for any new request for setting up a new loan
- must not take out new credit until the consolidation loan is fully paid up
However, it is recommended that you do not take out any new loans, at risk of having your budget management deteriorate again, and having to reapply for consolidation in order to attempt a repurchase redemption. is not winning in advance!
Indeed, during a buy-back study, the acceptance standards are stricter and the accounts must be kept clean, do not show any rejection of samples or consumption.