Help citizens to optimize their budget balance; here is an affirmation that reflects the values of the Krefima company. Krefima was launched in 1956 in Belgium. This great leader is a big name in the credit market . To distribute its products, Krefima works with the major brokerage companies (1,500 Belgian brokers trust Krefima). What is a loan buyback (also called an installment loan ) used for? When should you use this financial device? This post sheds light on this increasingly popular concept.
Explanation on the principle of credit redemption
The repurchase of credits is a loan of variable duration, contracted in order to settle the various credits of a consumer. There are installment loans with or without collateral . The creditor requests the mortgage of real estate located on Belgian territory when the transaction concerns real estate loans (notary fees are to be expected). Except in exceptional cases, the consolidation of consumer loans does not need guarantees . The credit agency can request one if your file is weak (guarantor with a CDI for example).
Having recourse to credit consolidation is not only reserved for indebted consumers. Admittedly, this solution was designed to avoid over-indebtedness , but it is quite possible to contract this type of loan for other valid reasons:
- Anticipate a future: finance children's studies without resorting to personal credit, build up savings ...
- Plan for a drop in income: retirement, end of contract, etc.
- Finance a new project : include a loan in the amount of buybacks in order to subsidize a personal project.
- Keep a good rest to live to have fun.
The main purpose of subscribing to a grouping of credits must be to allow you to settle your current loans . The amount awarded will mainly depend on your needs. The rate will be set at the time of the loan offer as well as the duration. Purely as an indication, the loan offer does not bind the borrower until the latter has given his agreement by affixing his signature to the loan contract. In addition, you should know that if a longer period considerably reduces the value of the monthly payment, it increases the total cost of the credit .
Borrowing a sum of money from an organization like Krefima should be a carefully considered decision. This is an important choice since it makes it possible to rebalance the budgetary balance and to make cash management more flexible. To better understand this project and study your situation, nothing beats the advice of a broker specializing in loan redemption.
Study the advantages of a credit consolidation
To analyze the benefits of an installment loan, you need to find a broker. To do this, it's very simple. All you have to do is use the tool offered on the Krefima.be online portal . Learn, however, that some brokers invite you to do a free simulation before you engage in the creation of your personalized file .