Credit redemption: how does it work and why do it? | Debt consolidation


Redeeming your outstanding loans and taking out a single credit offers you advantageous terms. And, whether you are an individual with a significant risk of over-indebtedness, or that you simply expect to foresee the recovery of the market: the purchase or regrouping of credit is a benefit to study closely. Several Belgian banks, digital or not, can help you in this direction.

What is a credit redemption?

What is a credit redemption?

The purpose of this financial package is to work with a bank to consolidate your loans and monthly payments into one loan agreement and one monthly payment. You will then have your future monthly payments to the new bank in question. The capital to be claimed at a credit consolidation is not simply recorded on the rest of your recoveries. It is also necessary to foresee the penalties of advance refunds.

Indeed, even if on some online banks, free prepayments are possible, if you do it through a credit redemption, the conditions will not necessarily be fulfilled. You should always pay penalties at the bank.

The benefits of a credit redemption

The benefits of a credit redemption

The repurchase of credit is a financing solution that has the wind in its sails. The reason for this is that the recovery of the Belgian credit market is becoming more and more felt. Credit consolidation is a way of predicting higher rates. And for good reason, with this kind of approach, you can negotiate more attractive rates and change to a fixed rate if you had a variable rate before. For some, pooling credit is the solution to overcome a significant risk of over-indebtedness while saving on monthly repayments. Your expenses will be less important, which will save you up to a few hundred euros a month and then breathe. Credit redemption is also a way to take advantage of a better deal. This may be less important administrative fees, or more attractive penalties, or even better repayment conditions.

Compare the offers of a credit redemption

Compare the offers of a credit redemption

Whether digital banks or neighborhood banks, almost all can offer you an offer of credit consolidation. And so, for this kind of application, consider comparing the proposals offered by the approved organizations before you commit.

The purpose of a credit redemption comparison is to find a lower rate and lower monthly payments and, in fact, save on your loan. Renegotiate and find the same conditions as your previous contract, then bring no particular interest. Any comparison is easy and fast. Any request for credit redemption is free and without any commitment on your part.

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