The CIC bank (Crédit Industriel et Commercial) is one of the most popular banks in United States which has existed since 1859. Its motto: “Let's build in a changing world” When it was created, CIC offered deposit solutions . It was only by watching the world change that CIC chose to offer other financial and insurance products. The consolidation of loans is part of its portfolio.
Before examining the solution proposed by the CIC, it should be noted that many households are in debt. The factors of indebtedness are multiple. Here are a few :
- Loss of income due to dismissal.
- Poor budget management.
- Contraction of many consumer credits.
Debt greatly reduces purchasing power. In fact, it is good to rebalance your budget to live better . Before opting for a consolidation of credits , it is sometimes necessary to look for simpler solutions such as reducing monthly expenses. Restricting yourself for a few months can be a real solution to find a correct budget.
Consolidation of credits should therefore be an “bis” solution. CIC offers a loan repurchase solution based solely on consumer loans . For your information, consumer loans include auto loans such as personal loans or revolving loans. The solution proposed by CIC is to combine all the consumer loans that you have in various organizations in a single loan at a single rate.
The advantages of this solution are as follows:
- You have only one monthly payment to repay with CIC (excluding mortgage). In fact, it is easier to manage your budget.
- You find a repayment monthly payment adapted to your situation . To do this, the CIC advisor offers several financing plans with varying durations. The longer the duration, the lower the amount of the monthly payment.
- All the credits together are subject to the same interest rate .
- The consolidation of loans makes it possible to reduce the debt ratio.
You should know that CIC does not offer solutions for the repurchase of real estate loans, but nothing prevents you from talking about it with your bank advisor. Advisors are there to help you find the best solution for your situation. In addition, no credit will be granted to a CIC client without the advisor having done a thorough analysis of your financial situation . The objective of this device is to make your budget more flexible. In fact, it is necessary to be able to give the amortization tables (or the statements of accounts) of its classic and renewable credits to its banker to make a personalized study.
Apply for a consumer credit buyback: three solutions are available to you:
- Simulate your project from the CIC online site .
- Call a financial expert Monday to Saturday, 8 a.m. to 8 p.m. at 08-00-00-60-60.
- Make an appointment with an advisor at a CIC agency.