The repurchase of credits is a financial proposition which can put a little boost in the optimization of the cash flow of a consumer. This financial assistance granted by financial institutions is subject to conditions. The employment contract is one of the conditions to support his request. Can a consumer being employed on a CDI (Permanent Contract ) benefit from this loan? We take stock of this situation in this post.
Combine your loans with a permanent job
When a household wishes to contract a loan ( loan to buy a vehicle, credit to finance a personal project, credit to gain access to property, etc. ), financial institutions ask for various guarantees . The guarantees requested allow the establishment to assess the repayment capacity . You should know that in United States, the rate of over-indebtedness , which corresponds to a ratio between resources and expenses, must not exceed 33% at the risk of being refused this financial assistance. The repurchase of credits works on the same principle.
In fact, if the person concerned has an indefinite contract , he will be more likely to obtain the repurchase of credits than a temporary or an employee on CDD. Why ? The open-ended contract reduces the risk of unpaid debts since the interested party has a fixed income . Even if the banks (or credit institutions) are adapting to the situation by focusing more on the study of the file on the repayment capacity, the employment contract remains an asset for the applicant for a consolidation of loans. However, it should be borne in mind that the CDI is not a determining criterion in the acceptance of requests for consolidation of credits. Indeed, the lending organizations will be based on other factors:
- the resources,
- the amount of the desired loan buyback,
- miscellaneous charges,
- the various guarantees.
An employee on a fixed-term contract who regularly accumulates contracts, for example, can present other guarantees such as a guarantor, an organization which acts as a surety or even real estate to mortgage .
To sum up, therefore, we should not limit ourselves to this criterion. The CDI is an asset and not a decision-making factor. Let us take another simple example: an employee on a CDI whose over-indebtedness rate is excessive will, in most cases, not have access to this financial proposal which is the consolidation of loans for the simple reason that his repayment capacity is at its lowest. Banks don't take too high a risk when a default can come into play.
The consolidation of credits concerns what types of credits?
Purely as an indication, the consolidation of credits can be partial or total and can concern only consumer loans or combine mortgage loans with consumer loans. Be careful, banks (or credit institutions ) rarely buy back 0% real estate loans or 1% real estate loans. In addition, it is good to assess the situation if you have invested in stone by taking advantage of the Scellier device.
The CDI constitutes an additional guarantee for banks (or credit organizations), but is not unanimous in the final decision. We must remain cautious and carefully analyze the clauses and conditions of the loan repurchase contract before committing.