Credit redemption
Group all your credits in one place⁽1⁾
Life is too short to waste time managing your monthly loan payments. By going through a credit buyout1, all your loans become one: a single monthly payment, a single repayment, a single interlocutor. Simpler than that? It would be impossible!
Online credit redemption :3 reasons to get started
Only one monthly payment, only one contact person
With the credit redemption, manage your expenses more easily by avoiding multiplying repayments each month. You couldn't do it any simpler!
A refund to the carter
Your monthly payments are modulable and you can even pause your repayment every 6 months. What more could you ask for?
Flawless support
With us, you are autonomous. But you are never alone! An advisor accompanies you in your process of repurchase of credit.
Your questions, our answers
More details
The redemption of consumer credit: an interesting solution to reduce your monthly payments
The redemption of credit consists of having one or more credits redeemed by a bank or financial institution, by signing a new loan agreement with this organization. This financial solution makes it possible to combine several loans into one.
This operation is useful to obtain a new single-rate loan, in order to simplify the management of your finances. But be careful! The redemption of credit can also rhyme with an increase in the overall cost of the loan.
At MoneFores, a dedicated advisor accompanies you throughout your approach in order to offer you the most suitable solution for your situation.
The advantages of repurchasing credit
Also called credit consolidation, the repurchase of credit has advantages :
- A reduction in your monthly payments: by extending the duration of repayment, your monthly payments are lightened, which frees up purchasing power.
- A simplification of the management: a single loan is equivalent to a only monthly payment and only one contact person.
- Adapting to your financial situation: you can adjust the duration and the amount of the monthly payments according to your repayment capacity.
- Reduction of financial stress: Fewer creditors and monthly payments to manage can significantly reduce the stress level associated with a loan.
The operation of the online credit redemption
To apply for a credit redemption at MoneFores, all you have to do is to fill out an online form with your personal and financial information.
Your file is then analyzed by the bank which offers you, if it accepts it, a suitable offer.
If you accept the bank's offer, you will be able to sign your new loan agreement. Your old credits will then be refunded through a one-time monthly payment.
Eligibility criteria and necessary documents
A maximum number of credits to be redeemed must not be exceeded.
To benefit from a credit redemption, you must not exceed your maximum debt ratio, set by the Top Financial Stability Board.
The required documents are :
- A valid proof of identity (identity card, passport, residence permit).
- A proof of address of less than three months (electricity bill for example).
- The last three bank statements of all your bank accounts.
- The loan agreements and the amortization tables of the loans held.
- The last three pay slips and/or the last tax notice.
The stages of a successful credit redemption
To complete a credit redemption, here are some steps to follow :
- Take stock of your loans: list all your current loans with their conditions.
- Evaluate the costs: take into account the administrative costs, the penalties for early repayment, and any notary fees.
At MoneFores, an advisor accompanies clients in the redemption of their credit
A credit is binding on you and must be refunded. Check your repayment capabilities before committing.
The information provided is purely informative and cannot be considered as advice provided by MoneFores (legal, tax, investment or other).
Legal information
(1) The Consolidation of credits is an amortizable loan, intended to buy back consumer credits which you hold, excluding real estate loans, for an amount of € 20,000 to € 100,000, on a repayment period from 36 to 120 months.
(2) Thanks to the modularity of the deadlines, you can modulate your deadlines up or down for a period of 1 to 3 consecutive months. The new monthly payment must represent at least 60% of the initial monthly payment, the decrease in the amount of monthly payments leads to the lengthening of the repayment period and increases the cost of the credit. Subject to the proper functioning of the credit.
(3) Offer subject to final acceptance after studying the supporting documents requested by CA Consumer Finance lender of which Sofinco is a brand, SA with a capital of 554,482,422 euros, 1 rue Victor Basch CS 70001 91068 Massy Cedex, 542 097 522 RCS Evry. Registered insurance intermediary to ORIAS No. 07 008 079 (www.orias.fr ).
You have a legal right of withdrawal of 14 days when subscribing to your credit.
(4) The monthly payment break is possible every 6 months as soon as your file is more than 3 months old, under subject to the proper functioning of your credit, for a period of 1 to 2 consecutive months. Request to make 15 days before due date. The break lengthens the repayment period and increases the cost of credit.
Optional insurances: according to the conditions and limits of guarantee defined in the insurance notice available with your credit agreement subscribed by CA Consumer Finance through EDA, Simplified joint-stock company with a capital of €50,000, 1 rue Victor Basch - CS 70001 - 91 068 MASSY Cedex - 316 136 506 RCS Évry - Insurance intermediary, registered with ORIAS (Organization for the Register insurance intermediaries) under the n ° 07.008.288, available on www.orias.fr , with CACI LIFE dac (Death) and CACI NON-LIFE dac (Total and Irreversible Loss of Autonomy) recorded respectively under the n°306030 and 306027 at the Companies Registration Office, Ireland.
Fraud prevention: The identifiers and access codes to your Internet banking account are strictly personal. Do not disclose them to anyone, even if this individual presents himself as a banking advisor, or any other organization. Keep them safe.