The French have an unfortunate tendency to believe that the overconsumption of consumer credit is the main cause of over- indebtedness . Studies conducted by the Bank of United States show that this belief is false. The main reason for over-indebtedness is unpredictable life accidents such as divorce . How to deal with the expenses related to a marriage separation? Is the repurchase of credits a good solution? This post will guide you and explain how to get by financially after a divorce.
Before discussing the solution of the repurchase of credits, it is good to make a small point on the situation. Before a legal separation as well as de facto, the couple shares their income, but also their expenses. The income being more important, the couple invests themselves. He invests in movable property as in real estate. Home ownership is one of the priorities of a couple. During the contraction of the mortgage , the two mergers affix their signature on the loan contract . They therefore undertake to pay the monthly installments. When the couple explodes , you have to share the goods and learn to rebalance a budget . The property can be put up for sale to settle the current joint mortgage or one of the two can buy back the other's share. In this case, the repurchase of mortgages can be of great use.
The repurchase of mortgages after a separation
You have to be realistic, the separation will lower your purchasing power . It is therefore necessary, despite the painful situation, to find solutions to optimize its budget.
- The first idea is to turn to social organizations so that they give you rights ( assistance for the payment of rent for example or assistance for complementary health ).
- The second idea is to lower your costs by changing your insurance ( home and vehicles ). The Hamon law authorizes the early termination of its contracts on condition of having a new insurer. This new law is of great use in making real savings.
- The third idea is to request financial assistance from credit organizations by putting into practice the solution of the repurchase of credits.
The repurchase of credits; What is that ?
It is normal to ask questions about how the repurchase of mortgage (or house) works. This solution offers the possibility of renegotiating the amount of the loan , the rate and the duration . This renegotiation makes it possible to reduce monthly payments and, by deduction, optimizes the budget and increases purchasing power. To claim it, you must apply to a financial institution which will study the file with the greatest attention. The request for redemption of credits is not always accepted. In this case, it should be known that the debt ratio too high is the main cause of rejections. In addition, organizations invite you to mortgage your property ! This possible solution is therefore to be accepted only if you have the financial means to make the reimbursement.