If the repurchase of credit is often associated with the over- indebtedness of the households, this operation remains however a means of cleaning up their accounts before this stage . Borrowing guides you and gives you the keys to a successful operation.
What is credit buy-back?
This credit operation is known by several names: credit repurchase , debt restructuring or refinancing . It should not be confused with the repurchase of mortgage. It makes it possible to reduce the borrower’s debt ratio, to reduce his monthly payments and in certain cases to free up additional cash in order to finance new life projects.
What is the difference with a home loan buyout?
For a loan repurchase, the operation consists in grouping all the credits of the household (mortgage for the house, consumer credits for the car, works, etc.) into one. Result: a single loan, a single rate and a single monthly payment.
A home loan repurchase is the operation by which a borrower has his home loan redeemed by another banking establishment in order to benefit from a better rate, a reduction in duration and / or monthly payment.
How to perform the simulation online?
Several credit buyback simulators are available on Empruntis to best prepare for your future debt consolidation.
- 1) Calculate your debt ratio to know the weight of your receivables in your budget.
- 2) Calculate your outstanding capital , that is to say the amount you are still indebted to the bank.
- 3) Simulate your amortization schedule to quickly view your monthly payments, interest and principal owed year by year.
Compare credit buy-back offers in just a few clicks
Our credit buy-back teams are experts in this area . They support you at each stage of your search for refinancing: from the preparation of the file to the release of funds. It only takes a few minutes to complete the credit buyback comparison. You will get the best conditions for your debt restructuring.