The need to renegotiate a repurchase of credit
All those who have pooled their loans in the past agree that this financial transaction has greatly eased their daily budget.
Indeed, every year, many families see their monthly payments decrease by more than 60%, which allows them to better understand the future and to enjoy themselves more.
However, it is important to manage after credit redemption so as not to fall back into an over-indebtedness situation.
When a credit buy-out is implemented, the brokers in charge of the files warn individuals against this risk of relapse.
Despite these caveats, many households are making new financial management mistakes.
These people then want to renegotiate their purchase of credit to lower their monthly payments.
There are also categories of people who want to renegotiate a loan buyback to take advantage of lower interest rates.
However, renegotiation of loan redemption is possible only if the application meets certain conditions.
The conditions for renegotiating a credit surrender
Renegotiation of loan repurchases amounts to realizing a new repurchase of credit, which explains the difficulties of many people to be able to carry it out.
Whatever the reason for which a person wishes to renegotiate a repurchase of credit, the request will have to respect several criteria in order to be accepted.
The date of the last credit surrender
In order to renegotiate a repurchase of credit, banks usually require a two-year time interval between the two operations.
It is therefore not possible to cumulate several credit redemptions in the same year, even if its financial situation improves.
However, even if it were possible, it is important to keep in mind that the repurchase of credit generates significant costs to the applicant.
As a result, this renegotiation of credit redemption is only necessary if this is fully justified.
Overall household income
Having a positive credit redemption agreement does nothing to help secure a second loan consolidation.
The applicant will have to reproduce the same approach by supplying all the documents again in the same way as in the previous application.
He will have to be able to justify at least the same income as at the first request and it is preferable that his income have even increased.
Indeed, banks do not like to make a second redemption of credit for the same person.
The fact that a person has a new need for credit redemption means that the banks did not know how to learn from their financial management mistakes.
Thus, the greater the applicant’s income, the greater the chances of acceptance.
The number of banking incidents
As mentioned earlier, banks prefer to consolidate the debts of people who have never made a credit redemption in the past.
If a person has already pooled their debts and has had their debits withdrawn in the last three months prior to the new application, it will be difficult for them to renegotiate their repurchase of credit.
Indeed, the bank will consider that the individual in question has not improved his budget management and he is considered to be a risky client.