All About Credit Redemption
The repurchase of credit is an alternative to indebtedness. If you have several loans in progress at the same time and you have trouble repaying them all, or if the management of the monthly payments becomes too restrictive, choosing a pool of credit can be a solution. With the purchase of credit, you combine all your loans into one single loan. This solution is quite practical and allows you to live more serenely. However, this solution involves different constraints to consider as additional costs and risks. As with any other credit agreement, it is therefore important to be well informed, think about all possible options and compare offers.
In concrete terms, how does the purchase of credit work?
In reality, a credit buy-back is a process of grouping different existing loans into one loan. And this is valid for all kinds of loans: installment loan, consumer credit, mortgage… The credit broker buys your loans and offers a refund in a single monthly payment. This monthly amount is obviously set according to your budget and your repayment possibilities.
What are the rules of credit redemption?
The buyout has its own rules, has advantages, but also disadvantages that it is good to know before embarking. We have grouped together a set of questions that you certainly ask yourself about the purchase of credit in order to answer a maximum of your questions.
Is the repurchase of credit for me?
The answer is quite simple, the credit redemption is for everyone. In reality, the credit redemption is full credit and as such, the conditions are similar. It is therefore necessary to be over 18 years of age, to reside in Belgium, to receive regular income and not to be registered in the National Register of Payment Events of the National Bank of Belgium. There is only one limit: as for any credit, the end date of the loan can not exceed 90 years.
Can I include my debts in my credit redemption?
The answer is yes. In addition to all your various credits, you can add your various debts; family, tax, bank overdrafts, late payment of invoices, charges… Attention however to situations of over-indebtedness. Credit buyback has long been associated with over-indebtedness. On the contrary, overindebtedness is a condition of non-acceptance of a credit repurchase case.
Am I obliged to redeem all my credits?
Well no. You have the opportunity to select the credits you want to buy back, in this case we talk about a partial credit surrender. You can, for example, decide to keep a mortgage, an employer loan… the only condition is that the sum of the monthly payments of the loan (s) you keep and those of the credit repurchase does not exceed 33%, which equals the recommended debt ratio.
Is my credit redemption insured?
At Crelowed, all loans may include a “balance owing” insurance. If it is not mandatory, we recommend it all the same. You may be wondering why take out insurance for your credit buy-back ? Insurance protects your loved ones in the event of a problem. It protects you in case of death or total disability by repaying your credit. In this case, instead of it being your family who inherits your debts, it is the insurance which will take care of the repayment of the monthly payments of the credit.
For more than 35 years, the company Crelowed, loan broker, offers the purchase of credit in Belgium.
The purchase of credit in Belgium, often recommended to customers who wish to borrow even though they already have monthly payments to bear.
Established in the territories of Belgium and Luxembourg, Crelowed has been offering financial loans for more than 35 years. As an installment loan specialist, she can advise each consumer on the most appropriate steps in view of their specific situation. For example, when we meet families already in debt who want a new consumer loan, we often recommend the purchase of credit in Belgium. This is a logically profitable operation, because it results in the consolidation of all monthly payments into one and having only one interlocutor for all loans. In addition, it becomes possible to renegotiate the duration of the contract, to reduce the weight of monthly payments or to relieve themselves of debts more quickly. If your current budget allows, increase your repayments to complete the credit faster!
Who should I contact for a credit redemption?
For a repurchase of credit, you can turn to specialized brokers, financial intermediaries or banks. Also note that you do not have to switch banks. The monthly payment will be taken from your account as usual.
To choose your broker for your purchase of credit, do not hesitate to compare offers.
Why choose Crelowed for my credit buyback?
The goal of Crelowed is to offer you solutions adapted to your needs and your possibilities. We offer a tailor-made service and personalized offers. Our professionals are at your service to manage your requests quickly and discreetly. We take care of everything and take care of your file and all the necessary steps. Moreover, we also offer, to those who wish, to move to your home for a signature file. If moving is complicated for you, we come to you.
Another advantage of using Crelowed is that we are an independent agency of any financial institution. Therefore, we remain objective when we advise you. We are really looking for the right solution for your personal situation. We really want to find the best solution for you. We are also convinced that transparency is paramount. Before signing the contract, you receive all the information you need. In the case of a repurchase of credit, you will know precisely the total amount to be refunded, the amount of your monthly payments as well as the duration of the repayment. You should also know that this information is fixed and that you will not have any unpleasant surprises.
In summary, why trust Crelowed for its credit buyback?
- You collect the loans you want to create a single loan with a fixed monthly payment
- You benefit from a personalized relationship thanks to the intervention of a single interlocutor
- Lighten your monthly payments, but you lengthen the term of the loan
- You manage your repayments and your daily budget more easily
- The conditions are clear and fixed: rate, duration and monthly payments
- You benefit from a personalized contract
What is the difference between consolidation and repurchase of credit?
Both terms are used in the world of finance, but there may be some subtle variations between the two practices.
When we talk about credit redemption, it is often a question of one and the same loan. A family considers that his current contract does not suit him, fails to negotiate with his bank, and decides to “transfer” his debt to a new establishment. It then becomes possible to modify the duration of the repayments, to pay more or less each month, according to its means. The pooling of credits, meanwhile, also involves repatriating an existing loan to the account of another institution. But above all, it allows to cumulate several loans in one and the same offer, to simplify things for consumers. When monthly payments are required, this practice is strongly recommended. To take full advantage, it is advisable to consider it with the support of a broker.
Why choose credit redemption online?
Crelowed shows you here that it is no less secure to use the Internet for this type of operation, on the contrary.
Some people may be skeptical about considering a buyout online credit, especially because they have trouble trusting companies that position themselves on the Internet only. Indeed, for all questions concerning finances, we must be wary of the pitfalls of the web. But when you connect to the Crelowed website, you are sure to have a real contact with you: besides its simulation and online application tool, the company exists through a dozen agencies on Belgian territory. We travel to our customers on request, and we answer their requests by phone. So you do not have to doubt our offer online estimation: it is based on a real and solid, since 1980.
Specialized in consumer credit and also offering the purchase of credit, Crelowed company exists since 1980 in Belgium. Back on his philosophy and his key values.
In the field of consumer loans, Crelowed has established itself as a true leader, since its creation in the early 1980s. Today, our range of services is broad and tailored to customer needs: installment loans, auto financing, credit redemption, etc. Our values are based on a concern for independence: we only want the satisfaction of our customers and we do not maintain partnerships with particular institutions. We have deployed physical agencies in Belgium and Luxembourg to build a strong relationship of trust with our customers. In the same vein, we open to everyone a free phone line, available during the day, but also in the evening and on weekends. Each year, we record no less than 30 million euros in consumer loans and 50 million euros in mortgages.