Credits in several banks and repurchase of credit?

You find that your monthly payments are much too heavy and you have the feeling of being asphyxiated financially? Read for a critique

Fortunately, the purchase of credit is an effective solution for all your financial problems. But before taking the plunge, this handy guide introduces you to how credit restructuring works and the means to take full advantage of it.

How does the credit redemption work?

How does the credit redemption work?

The repurchase of credit is a financial solution that responds to any situation of excessive debt. In fact, it makes it possible to reduce the monthly payments of all current credits and to reduce the sum total of the monthly repayments.

This solution consists in reconstituting in a single credit all loans already in progress, with lower interest rates.

With the advent of the internet, the request for credit redemption can be done directly online. Be that as it may, its principle remains the same: you go to a financial institution other than the banks that originally gave you the funds.

He then pays all the credits to several creditors, despite being of different natures, and replaces them for a new contract at a very attractive rate and for a longer duration.

The course of the repurchase of credit

The course of the repurchase of credit

Discover the progress of a credit consolidation operation:


This encourages you to make direct contact with the bank or broker to start the operation. In general, it consists of providing all the essential information such as the number of existing loans, the household income, tenant or owner …

For a request from the bank, the credit restructuring is not necessarily in the attributes of your bank advisor. However, if the product is not offered by your local bank, your advisor can redirect you to a specialized subsidiary and others. Do not hesitate to consult online banks that offer more and more financial products.

If you use a broker, you have several options, including via the internet.


Depending on the information given, an adviser appreciates or not the feasibility of your operation. The essential points are, of course, the debt ratio before and after the proposed credit consolidation.

If the operation is profitable for your profile, your file can continue and go into the editing phase. Know that professionals have a duty to advise, but ultimately, for your operation to be successful, it is your duty to know your situation in every detail.


You are now at the heart of the operation. Here, it is a question of precisely quantifying the total amount of your new credit.

To do this, you must first provide the following supporting documents:

  • Proof of address: a photocopy of less than 3 months bill of electricity, water, gas, internet, etc.
  • Proof of identity: photocopies of identity cards, family record book, marriage or divorce contract
  • Proof of income: the latest payslips, proof of unemployment benefit, pension, tax notice
  • Proof of housing: rent receipts, tenant’s housing tax or title deed, as well as the estimate of the property
  • Proof of debt: debts to the tax authorities, the employer or the family …
  • Loans in progress: amortization tables for personal loans, home loans or revolving credit
  • Bank account: the latest statements from all current accounts
    In general, when these items are in the hand of the lender, the next step is the signing of the search warrant. This document authorizes the banking institution that takes care of your file to contact credit providers on your behalf.

The appreciation of the restructuring offer

At this point, you must have several credit buy offers after several requests from multiple institutions.

Among the offers, the goal is to choose the one that best suits your needs. For the cheapest offer, you must take into consideration certain parameters such as the total amount, the sum of the monthly payments, the fees in case of early repayment, the repayment period, change of establishment …

Please note that the reflection period is 14 days, in other words, you will not be able to accept the offer of your choice before the expiry of this period.

The release of funds

Once your offer is finally accepted, the institution holding your new credit redemption will pay for all outstanding credits.

If the product is accompanied by a new cash loan, the amount of the credit is also paid to the current account at the same time.

Generally, between the first step and the payment of the funds, the operation of the restructuring takes a minimum month.

The different types of eligible credits

The different types of eligible credits

Credit consolidation can be valid for all types of consumer credit:

  • Auto credits
  • Works credits
  • Personal loans
  • Renewable credits
  • Mortgages
  • Bank overdrafts

Credit Redemption: Benefits

Credit Redemption: Benefits

By subscribing to a credit pool, you can offer a number of important benefits. As your monthly payments are reduced, you can release new funds for your projects.

In addition, with this rate going back below the 33% mark, you still have the opportunity to borrow again. You can also simplify the management of your current account thanks to a single monthly payment and fixed date.

The credit redemption allows you to enjoy a lower rate, as well as a check of bank statements. It is accessible to anyone with loans in progress and immersed in a situation of over-indebtedness.

Indeed, the solution is open to the owner to the tenant, to the person accommodated or housed by his employer.

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