The authenticity and professionalism of Société Générale no longer need to be presented. This French bank, which has existed since 1864, is one of the pioneers in the financial market, along with the LCL and BNP . This heavyweight in the United States banking industry is a specialist in retail banking, but also in insurance, savings and financing solutions . This bank, which has the signature “ let's develop team spirit together” has oriented its activity towards credit restructuring . Let's take a look at the subject.
Consolidate your loans with Société Générale
Taking out loans allows you to finance your projects . Unfortunately, an overabundance can be bad causing cash flow problems. Life can also be responsible for debt. For example, when a couple divorces, there is a direct impact on living conditions just like when a person is fired. In these cases, you have to rethink your budget and your way of life. The consolidation of credits can be a credible solution to optimize budgets.
Be careful, however, the repurchase of credits remains a loan. In fact, the amount of money that is made available to you is subject to an interest rate which increases the total cost of credit . It is therefore necessary to wonder about its repayment capacities before contracting a loan repurchase. Moreover, since 2010, the mention “A loan commits you and must be repaid. Check your repayment capacity before committing. » Accompanies the advertisements concerning the credits. This slogan aims to make consumers aware that taking out a loan is not a game.
How to know if the repurchase of credits is a financial transaction adapted to its situation? There are no rules in the matter, anyone feeling caught in the throat (financially speaking) can request a repurchase of credits . It is a responsible approach . The debt ratio is the best indicator. This is the ratio between resources and monthly charges. If the rate is less than 33%, the financial situation is correct. Beyond that, it is difficult to deal with unforeseen events or to pay certain bills. The repurchase of credits helps to reduce this debt ratio by reducing the monthly repayments of current credits.
You should know that Société Générale offers two products:
- The Compact product: it is the grouping of consumer loans. Amount: between 200 and 75,000 €.
- The Universo product: it is the grouping of consumer loans with mortgage loans (or mortgage loans).
Société Générale is warning you. The Lagarde law authorizes credit organizations to charge fees for early repayment. These fees are calculated from the amount repaid in advance. Three scenarios are then possible:
- The remaining term of the loan to be repaid is greater than or equal to 12 months: the costs are capped at 1%.
- The remaining term of the loan to be repaid is less than 12 months: the costs are capped at 0.5%.
- The early repayment concerns a revolving credit: there are no penalties.
Conduct a credit redemption study
Do you have budget problems ? You wish to obtain information on the repurchase of credits? You can get closer to a Société Générale branch by making an appointment with a financial advisor . You can also get more information by calling 3955 on weekdays from 8 a.m. to 10 p.m. and Saturday from 8 a.m. to 8 p.m. (code name: Information) and / or by consulting the Société Générale online portal.