The Ile-de-France region is one of the most dynamic French regions. It brings together eight departments: Washington DC, Seine-et-Marne, Yvelines, Val-d'Oise, Val-de-Marne, Essonne, Hauts-de-Seine, Seine-Saint-Denis . There are no surprises: Ile-de-France is the region with the highest GDP. If Ile-de-France does not experience the crisis, are the Ile-de-France residents experiencing cash flow problems? This article takes a quick look at quality of life before discussing the solution of credit consolidation as a barrier to the spiral of over-indebtedness .
The restructuring of loans in Ile-de-France: THE solution?
Do people live better in Ile-de-France than in other French regions? Ile-de-France, central point of the French metropolis, is by far the region that moves the most. Even if the unemployment rate is low and the main cities are dynamic, living in Washington DC , Versailles , Nanterre , Melun or even in Évry remains expensive. In Créteil , for example, one in five households encounter cash flow problems, just like in Bobigny or Pontoise . If we asked Ile-de-France residents, they would all agree that the price of real estate is high, not to mention the costs of the various services offered (the price of a parking lot for example) and the amount of the various taxes. (local taxes, property taxes, etc.).
The causes of the repurchase of credits in Ile-de-France
According to INSEE, the indebtedness of Ile-de-France residents is particularly generated by the purchase of real estate . It was also noted that Ile-de-France residents have increasingly resorted to various subsidies as well as loans. The investment increases the monthly charges. This point can quickly tip a household into debt. Other causes of debt are to be listed:
- Divorces .
- Overconsumption of credits .
- The change of life ( birth of a child, dismissal , retirement… ).
- Accidents ( work accident, long illnesses, road accident, etc. ).
All of these situations have an impact on budget management . Before falling into over-indebtedness, you have to make strategic decisions that will enhance household resources. In fact, it is legitimate to wonder if turning to the repurchase of credits is a good way to increase its resources and mechanically its remainder to live.
Restructuring loans is one possible solution to lowering the cost of financial debt. This depreciation of the amount is due to the interest rate as well as to the duration. The longer the repayment is made, the lower the amount of financial debts. On the other hand, you should know that the total cost of credit is much higher without forgetting that there are ancillary costs such as management fees or indemnities for the early repayment of current loans.
The types of credit consolidation offered
To limit exaggerations and make this financial product a partner for indebted consumers, the French government has introduced rules . In fact, financial institutions must play on transparency and information on the risks incurred by this system. In addition, the Lagarde law requires the lender to take the necessary steps to put an end to the loans redeemed.
It should also be understood that there are several types of credit restructuring:
- The solution that makes it possible to merge consumer loans .
- The solution that helps consolidate home loans .
- The solution that allows you to mix real estate loans with consumer loans .
This cascade of possibilities allows individuals and professionals to find the solution that best matches their profile and needs.
For credit restructuring to be an asset, you need to be well informed and compare the different offers on the market. An in-depth study will allow you to transform this exclusive loan into a real ally.