By dint of contracting several credits, many individuals find themselves today in financial difficulty. The payment of monthly payments becoming too heavy, individuals manage less and less to pay their debts. To avoid being in a critical situation, individuals in difficulty can turn to the repurchase of credit, an effective financial transaction that can reduce the monthly payments, in the long term.
Reduce monthly repayments: how to do it?
Unless suddenly available funds to quickly settle all its credits, it is essential to find a solution to reduce its monthly payments in the long term, to be able to repay more serenely.
Those who have taken out more than one loan may move to the credit pool, a solution that allows the borrower to benefit from a new credit agreement in which the new repayment terms are specified.
What if you have several personal loans?
Indeed, this solution gives the opportunity to those who have subscribed to various types of personal loans to find a way to better manage their monthly payments. Through this operation, the borrower gets a new loan in which all his outstanding credits are collected.
The duration of repayment, meanwhile, is extended according to the types of loan collected (auto credit, leisure credit, loan work…) and the new repayment capacity of the borrower. It should be noted, however, that if the repayment term is extended, therefore, the interest charged by the bank will certainly be higher. The extension of the repayment period remains a point that deserves a lot of thought, especially for those wishing to pay their debts more quickly.