Turning to the repurchase of credits can be a solution when you want to reduce your debt or finance new projects. Can a citizen in debt under a precarious employment contract ( CDD, Interim… ) opt for this solution? Is the employment contract a decisive criterion for obtaining a loan buyback? If so, how can you make your file solvent ?
The professional situation and the repurchase of credits
We must not kid ourselves, the professional situation is one of the decisive criteria for making a loan buyback. Thus, when one finds oneself in an unstable situation, there is a good chance that the application will be rejected.
And for good reason, organizations offering loan redemptions operate, with a few differences, on the same principle. To study a file, they need to know the personal ( family, marriage, single person, etc. ) and professional situation of the applicant ( interim, CDD, CDI, unemployment, etc. ), but also the financial balance sheet (resources and debts ). As you can see, the type of employment contract is one of the decisive criteria for obtaining a loan buyback.
On a professional level, the majority of financial institutions offering loan repurchases require the following guarantees:
- Work for at least 12 months .
- Have an hour credit of around 150 working hours .
- Have pay slips.
- Have a tax notice .
- Be hired on a permanent contract . The CDI guarantees the repayment of the monthly loan installments.
The precarious jobs do not come under the conditions of attribution for the repurchase of credits. However, lenders realize that getting out of debt is not easy. In fact, there are other conditions which can give rise to rights such as, for example, the existence of multiple guarantees . Also note that civil servants in temporary status may have special exemptions since the contract which has a fixed period of 12 months is renewed each year.
How to make your file solvent?
You will have to find good guarantees to show the organization that you are able to repay the new loan. To do this, you need to collect your evidence. How? 'Or' What ? Here is a good question for which we give you some advice.
- Seek to reduce the amount of its charges . Certainly there are unnecessary expenses. It is therefore necessary to take stock of your financial state by seeking to lower the cost of certain debts such as insurance contributions or food expenses . We remind you that since the entry into force of the Hamon law, it is possible to terminate, subject to conditions, vehicle insurance as well as home insurance in favor of new, cheaper contracts.
- Find out about possible financial aid from social organizations. The CAF can reduce the amount of your rent as you give financial aid such as salary supplements or for children. Inquire!
- Find guarantees. The guarantees are diverse. For example, it is possible to mortgage real estate or to have a solvent co-borrower sign on a CDI. For temporary workers, there are organizations that vouch. Here too, you have to get information from the temporary employment agencies. Buying borrower insurance can also be of great help.
- Build your case. When all the previous conditions are met, you can set up your application file for the repurchase of credits.
- Make simulations. Finally, you have to find the lender . There are organizations that only offer the repurchase of consumer loans while others are interested in the renegotiation of real estate loans without forgetting those who offer to combine the two. In addition, some organizations offer loan repurchases to indebted households outside the criteria. The online simulator remains your best ally just like the brokers .
To summarize, obtaining a repurchase of credits in CDD or as a temporary worker is practically an impossible mission. However, it is possible to play with the guarantees to obtain a consolidation of its debts.