When we talk about the word “United States”, we think of the metropolis. And yet, the United States is also the islands including Martinique , Guadeloupe , Reunion , Guyana ; these are the French overseas departments (the overseas departments ). The way of life in these communities is different from the way of life of a resident in Metropolitan France. The difference lies mainly in the mode of consumption . For example, locals consume more local products so as not to blow up the family budget. The same goes for leisure; we prefer outdoor activities to the cinema. This expensive life has a negative impact on family budgets. How to succeed in optimizing your cash flow?
The repurchase of credits overseas increases purchasing power?
After carrying out an in-depth study on the consumption patterns of residents in the Overseas Territories, the IEDOM ( Institut d'Émissions des Departements d'Outre-Mer ) announced that the reasons for indebtedness were very different from those in metropolitan France . Thus, it emerges from this report that the causes are essentially linked to the purchase of a villa or the use of consumer credit to finance renovation work on a property. If we take a closer look at this investigative report, it is possible to state that indebted households are generally households with an annual income of more than € 30,000. This statement can be explained by the fact that households with good incomes have more easily recourse to various loans. To better understand this report, we must not forget that the French islands are affected by unemployment . In 2014, an unemployment rate of 21.3% in Guyana and 23.8% in Guadeloupe was announced. While it is true that certain sectors of activity ( tourism, education, etc. ) are booming, finding stable work is a real headache.
It is therefore legitimate to wonder if the repurchase of credits is a plausible option to increase one's purchasing power when living on one of the French islands. We must be realistic, there are not thousands of solutions to rebalance the financial balance. We must either increase resources or reduce costs . As the socio-economic situation of the overseas departments remains difficult ( high unemployment rate, the inhabitants have few qualifications, high food prices, etc. ), it would seem that the search for solutions to lower the amount of financial debts and expenses remains the case. most suitable option.
The objective of the restructuring of credits overseas
To support the inhabitants of Overseas, the credit organizations grant loans in order to close the various loans of a household. The fact of bringing together all of its loans in a single loan allows:
- To renegotiate the amount of the monthly payment . The value of the monthly repayment will be even lower if the borrower opts for a maximum repayment term.
- To go through only one organization .
If the objective of such a device is to increase purchasing power , it should still be known that the longer the repayment period chosen, the higher the total cost of credit. So that the borrower is well aware of this, the Lagarde law has set strict rules. Thus, the institution offering the loan offer must inform the borrower and play with transparency. In addition, you should also know that organizations charge fees for opening a credit redemption. In fact, you have to remember to include the amount in the value of the new loan.
There are three types of products:
- The merger of consumer credit .
- The merger of mortgage loans .
- The merger of consumer loans with mortgage loans.
The last two solutions are only valid for the owners since it is essential to put a property in mortgage to open the rights. The mortgage requires recourse to the notary for the drafting of an authentic deed which will be invoiced.
Credit merging is a decision that must be made with full knowledge of the facts. There are several organizations ( Prefina, Avenir-conseil, EIG Finances, etc. ) that offer this type of package. Do your research without forgetting to make comparisons to find the winning repurchase of credits.