The answers to your questions about credit consolidation.
Redemption of Caisse d'Epargne loans
The squirrel bank, as it is nicknamed, is a banking and financial organization serving individuals and professionals. Current account, savings account, complementary health insurance, mutual insurance for students, real estate loans, consumer loans, revolving loans ... the Caisse d'Épargne group supports you on a daily basis in the management of your cash flow as in the outcome of your multiple projects. The Caisse d'Épargne also has a financial product which enables its monthly expenses to be reduced ; it is the repurchase of credit. What does the Caisse d'Épargne really offer?
Consolidation of credits: give flexibility to your budget
The Caisse d'Épargne is not the only organization to offer this finance operation. However, each establishment is free to set the rules of the game without going beyond the regulations set by French law. The Caisse d'Épargne has made the strategic choice of distributing only consumer loan repurchases . What is a consumer loan buyback? It is a loan that corresponds to the value of your current consumer loans with the different lenders. By "consumer loans ", we must understand all loans (including revolving loans and bank overdrafts) except mortgage loans . The Caisse d'Épargne does not offer this solution.
How does the pooling of credits work?
How it works ? The process is relatively simple and similar to each credit organization (or bank) offering this financial product. The operation follows the following reasoning:
Gather all the deadlines for current credits in order to total the amount remaining due from the organizations. This total will make it possible to know the amount to borrow .
Check all the clauses of the contracts to know the costs incurred by an early repayment and if the action is possible. Indeed, the law allows organizations to refuse, under certain conditions, early repayment. It is, therefore, essential to find out before committing to a new loan.
Check its repayment capacity .
Implementation of the loan repurchase offer with a single rate and the duration agreed by the borrower.
Acceptance of the offer with the provision of the sum to settle the various loans in progress.
The organization takes care of the contacts with the creditors to settle the accounts.
The borrower therefore has only one consumer credit loan and one interlocutor. This new loan to be repaid at much lower monthly payments which allows flexibility in the borrower's cash flow .
Contrary to popular belief, credit consolidation is not only for individuals in financial distress. It is quite possible to opt for this solution to anticipate your future or simply to gain purchasing power .
To give a brief update on the solution provided by the Caisse d'Épargne, you should know that:
The loan amount varies between $ 1,000 and $ 50,000.
The repayment period varies between 4 and 120 months.
Administrative fees are charged.
Postponement of deadlines is accepted.
We warn you on one principle: too many credits kill the primary advantage of this type of financing operation. It is therefore necessary to think carefully about analyzing your financial situation while taking care to calculate your repayment capacities.
Easily correspond with the Caisse d'Épargne
If you are Caisse d'Épargne clients, you can request an appointment with your financial advisor to take stock of your financial situation. The latter knows your situation well, he will be in the best position to assist you in your efforts. If you do not have an account with the squirrel bank, you can call the nearest Caisse d'Épargne . You will find the number of your caisse in the “contact” section on the Caisse d'Epargne online portal.