Today you get credit for everything (automobile, consumer, real estate purchase…) with a facility so disconcerting that it often leads to a debt situation. To accumulate several monthly payments inexorably leads to financial asphyxia. There is no point in waiting for the accounts to turn red earlier and earlier in the month, as incidents and related rejection fees accumulate, only adding to the amount of overdraft and overdraft. To get by, a solution exists, the purchase of credits.

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A sluggish economic climate often putting borrowers in trouble to honor maturities of loans, historically low real estate rates, redemption rates generally quite attractive… All conditions are met to consider a buyback of credits.

The payday loan consolidation is an operation that consists of gathering all payday loans in a single credit, with the effect of reducing the number of monthly payments and thus reducing the household debt ratio- navigate to these guys. The people who use them can, therefore, rebalance their cash flow and regain a greater margin of purchasing power.

This type of financial arrangement attracts many borrowers who accumulate so many loans that it is impossible for them to meet their deadlines. By grouping all credits into one with repayments spread over time (up to 10 years for a personal loan) you get much reduced monthly payments. The repayment period is certainly longer but the reduced monthly payments offer a real “breath of fresh air” to borrowers strangled by a reduced purchasing power. Grouping credits also make it possible to integrate a small treasury to face the unexpected without any anxiety. Moreover, the rates for mortgage loans have never been so low, the opportunity may be interesting to buy a loan obtained a few years ago at a much higher rate.

Profile of credit repurchase holders in France

In the absence of sufficient statistical data, it is difficult to draw up a map of the redemption of loans in France, but there is a certain correlation with that of the debt published annually by the Bank in France. In November 2014, there was a predominance of household indebtedness in the Nord and Nord-Est regions, Pas de Calais, Picardy, Champagne-Ardenne, and Burgundy as well as in Haute-Normandie (there are more areas in these regions). 5 over-indebtedness files per 1000 inhabitants). The regions, which are the most spared, are Île-de-France, Brittany, Alsace, the Rhône-Alpes and Midi-Pyrénées regions as well as the Pays-de-Loire region, which generally shows an improvement of the financial situation with regard to the indebtedness of its inhabitants since 2011 (except for the department of Sarthe).

According to the Bank in France, the profiles of over-indebted people are changing. From families of 4 or more with an average age of 40, they now include single, widowed, single, separated or divorced people with emergence of seniors over 55 and owners. In the active population, employees seem to be the most affected by over-indebtedness (35.7%) with an average debt ratio of 38,446 euros excluding mortgage loans.