To start, you have to make the difference between renegotiating credit (Without S) and grouping of credits (with S), otherwise called repurchase of credits or RAC by professionals.
The grouping of appropriations concerns all those whose amount of receipts does not allow them to meet expenses. It also interests all those who have assets and who want to obtain the financial means to improve their cash flow, make donations or investments.
For many the appropriateness of grouping credits is justified
Contrary to what one might think, this situation does not only concern the poorest households. In fact, the categories most affected are civil servants and the military, who, with their job security, tend to go into debt beyond measure. Then come the liberal professions which, for other reasons, mainly fiscal, find themselves confronted with very heavy debts. (RSI, Taxes, etc.)
Each case is specific and requires a specific study
Also, for each, the broker performs a full audit of his cash flow situation. The broker makes an exhaustive inventory of debts (taxes, rents, mortgage, consumer loans, etc.) in order to establish a comparison with his monthly income.
The final objective is to consolidate all the debts and to propose to pay them the subscription of a single credit with a single monthly payment. This new credit will be of an extended duration so that the monthly payment is consistent with the repayment capacity. It will therefore ultimately be more expensive but, with this financial technique, debt greater than 40% and more of income can return to a level compatible with resources. The borrower finds purchasing power and financial space in the management of its budget.
The advantage of the consolidation solution is that it eliminates over-indebtedness and makes it easier to cope with everyday life. The study of debt consolidation does not present any risk for the borrower. Brokers are bound by the regulations of Intermediaries in Banking Operations and Payment Service (IOBSP). As such they cannot claim any remuneration until the credit is released.
Thus, at YesRite Finances, there is total transparency on the cost of the operation including the amount of our fees. In addition, our security and prudential obligations in terms of control require us to keep our recommendations on a durable medium.
At YesRite we have two recommendations
The first is to act quickly. It’s about making a quick decision. We will give you expert advice. We must not wait until the debt situation gets worse. The second is that nothing should be hidden from the situation. The broker is like a doctor, he must know all the symptoms to make a good diagnosis.
Documents to provide
Proof of your identity
You must provide a photocopy of the identity documents (front / back), a photocopy of your family book and, if applicable, the marriage contract. In case of separation, the claimant will add a photocopy of the final court decision. You will also have to attach documents proving your place of residence, such as telephone or EDF / GDF invoices dating from less than three months.
Evidence of income
These documents, which prove your income, differ according to your situation. Thus, the retired credit buy-back applicant will for example have to provide their last pension slip. When you are employed, you must produce the last three pay stubs as well as the pay stub for the last month of December to prove your year-end bonuses. You will also have to attach an employment contract or, failing this, a certificate from your director guaranteeing a permanent contract and the length of your recruitment. Finally, you will need to add your last two tax notices and, if you receive assistance, proof of the family allowance fund.
In addition, if the borrower is on parental leave, certification by the employer guaranteeing the day of resumption of work will be required, as well as an attestation on honor from the subscriber attesting the date scheduled for resumption work. What are the expectations for a self-employed subscriber? If you are a company manager, craftsman, trader or professional, you will have to justify your income by producing your last three tax notices together with the last three controlled declarations 2035.
Finally, when the subscriber is the beneficiary of rents, he must also provide the 2044 declaration of property income, as well as the rental contract for all of his leased property, the last three corresponding receipts, and the original of the property tax for each of rental properties.
Bank documents and supporting documents for loans
the bank documents to be provided are the last three statements for all of the borrower’s accounts, savings or professional accounts. The indebted person must also attach a statement of bank identity. In addition, you will have to provide the documents justifying the loans necessary to carry out a loan buy-back, namely, loan offers and amortization schedules for your personal credits and credit offers (general and specific conditions) and amortization schedules for your home loans . In the case of revolving loans, the borrower will also have to provide his latest statements of accounts and payment cards. Finally, homeowner borrowers must produce their full property titles, the corresponding property taxes, and also a certificate of home insurance, a certificate of the value of the property.
Think about it: Make sure the establishment is serious before sending your original documents. All this is very important and should not be taken lightly.
Our advice: to carry out your loan search procedures, do not hesitate to be accompanied by an YesRite Finances broker. Real credit specialists, they are in the best position to defend your file with banking organizations, thus allowing you to increase your chances of obtaining a grouping of credits at the best conditions.