Can we make a second repurchase of credit and beyond?

The purpose of the credit repurchase is to consolidate all the outstanding borrowings to subscribe to only one. This operation makes it possible to renegotiate the borrowing rate downwards and to have only one repayment deadline. In return, the repayment period is extended. These are the same reasons that can cause borrowers to make a second loan repurchase.

What are the conditions? What are the advantages of repeating the operation and how does a second loan buy-back work? Let’s come back together on this opportunity which allows you to rebalance your financial situation and free up cash to make new personal projects a reality.

What is a second credit buy-back?

What is a second credit buy-back?

A second repurchase of credit consists in wanting to make a second grouping of loans after having already carried out a first one. As a reminder, a credit consolidation allows you to redeem all of the credits taken out to present only one. In other words: the borrower pays only one monthly loan term, the amount of which is determined by the initialed credit buyback contract.

The interest of a second repurchase of credit is identical to the first: to combine all its loans in only one spread out in time. Objectives: lighten the monthly repayment and take advantage of a more favorable credit rate. The subscriber thus relieves his financial situation just as much as he clarifies it. Indeed, it no longer applies to only one lender in the context of a single loan.

The borrower finds a balanced budget more suited to his personal, professional and financial situation. It also benefits from new room for maneuver in terms of cash flow to finance a project such as a trip abroad, the purchase of a vehicle, work in accommodation, the anticipation of funeral expenses, etc. As long as the situation is tenable, anyone can request a second loan repurchase because, theoretically, the number of credit groupings is unlimited.

How much time should be respected between two credit buy-backs?

How much time should be respected between two credit buy-backs?

However, requesting a loan repurchase for the second time involves respecting certain constraints. The first of these concerns the period between the first credit consolidation and the second. You must wait at least one year between the two requests with the exception of two scenarios:

  1. This period of time between two repurchases of credits does not have to be if the subscriber uses this new grouping of loans to finance a new project. This is, for example, the case of a future retiree who decides to take out a loan to start unexpected renovation work on his home. Although he has already made a first loan repurchase, he repeats the operation by combining the single loan with the new loan required to carry out his work.
  2. The delay condition for the second credit repurchase is also removed when the amount of the second credit repurchase is higher than the first. This gap, however, must register within reasonable proportions: 20% of new credit over the amount of 1 grouping of loans made.

In which cases can we take out a second loan buy-back?

In which cases can we take out a second loan buy-back?

The purpose of the second credit repurchase is to reduce the monthly repayment. If an individual or a household believes that their financial situation is tending to become unbalanced, they can request a new loan restructuring by buying back their first loan repurchase.

Without being exhaustive, several situations may lead to considering this solution again:

  • to take advantage of a low interest rate environment in order to reduce its monthly charges and thus reduce its debt;
  • to make a partial early repayment of the previous loan repurchase following the reconstitution of savings resulting from the first refinancing of old credits;
  • to lower the level of debt when buying real estate;
  • to cope with new or unexpected expenses;
  • to finance a new project without increasing the debt ratio;
  • to avoid having to use revolving credit when you lose your job, retire or separate.

How does a second credit buy-back work?

How does a second credit buy-back work?

In addition to thinking about respecting the time limit condition on the second loan repurchase, the first step consists in starting a renegotiation of credit with the lending institutions. The purpose of the discussions is to prevent prepayment penalties from affecting the consolidation of credits in progress. It is possible to go through an intermediary who will defend the request with banking establishments in complete neutrality.

Everything then depends on traditional criteria:

  • updated study of the borrower’s profile (personal, professional and property situations);
  • repayment capacity;
  • bearable debt ratio.

A feasibility file is sent to the lender. After passing before an internal commitment committee, the second credit buyback file receives a favorable opinion or is refused. The instruction period is spread over ten days.

Good to know : banks are more receptive to a second repurchase loan when the person is faced with the consequences of a life accident.

Compared to conventional documents, the lender can claim a guarantee per payday session or the subscription of a mortgage loan. This is intended in particular for owners and applicants in the process of home ownership, when the amount to be purchased exceeds the threshold of $ 200,000. A tenant can also use it if he can guarantee his loan with real estate.

In the event of a favorable outcome, the bank transmits a credit repurchase offer, the subscriber legally having a 10-day cooling-off period if he wants to buy back mortgage loans. The signing of the contract confirms the offer of second loan repurchase, knowing that a withdrawal period exists for 14 days for consumers of consumer credit, two weeks during which the funds are frozen.

Minimum and maximum amounts for a consumer credit buyout?

From allocated credit to revolving credit via student loan or personal loan: a consumer can perfectly restructure his consumer debts by carrying out a grouping of loans. But if a consumer credit is capped at 75,000 USD, what is the maximum amount of a consumer credit buyout?

Furthermore, what projects can such an operation finance? From the best consumer credit rates for households in financial difficulty to the possible role of mortgage recharge for homeowners, here is the information to know.

What is the maximum amount for buying back consumer loans?

What is the maximum amount for buying back consumer loans?

The maximum amount for a consumer loan is set at 75,000 USD, while the minimum threshold is 200 USD. When a loan is more than 75,000 USD, it is no longer legally a consumer credit. In other words, the operation no longer falls within the framework of the Lagarde (2010) and Scrivener (1978) laws.

The borrower no longer benefits from this legal protection enshrined in the Consumer Code. He must therefore monitor the clauses of the contract itself, in particular the duration of repayment, the borrowing rate, the amount of the monthly payments or even the clauses ruling on the early repayment and withdrawal.

On the other hand, a loan consisting of a contract for grouping consumer credits can be greater than 75,000 USD. In addition, and for information, the minimum amount for a consumer credit repurchase is evaluated at 1,500 USD.

What can we finance with a buyout of consumer loans?

The consumer loan allows:

  • to buy movable property (capital goods for the home or the person, car, etc.) or the provision of services (travel, etc.);
  • to have cash;
  • to pay for housing work (except if the repurchase of credit includes a mortgage guarantee);
  • to contract a rental with option to purchase (LOA);
  • to group together several consumer credits in progress, including if the amount of the loan is greater than $ 75,000 and if the loan guarantee is not a mortgage.

What types of consumer loans can you combine?What types of consumer loans can you combine?

The repurchase of consumer credits consists in regrouping in a single loan all the current consumer credits. However, there is not just one type of consumer credit. Among the associated banking products, we can cite:

  • affected credit: this is a loan reserved for a specific project. Example: the funds of a car loan are necessarily dedicated to the purchase of a vehicle. Remember that the transaction lapses if the credit is canceled or if the good or service is not delivered;
  • personal loan: this is a credit whose funds can be allocated at the discretion of the subscriber;
  • revolving credit (revolving credit): it is a reserve of money loaned by a financial institution. The borrower pays interest on the sum only when he draws on this credit;
  • student loan: this is a consumer loan guaranteed by the State, the loan amount and duration of which are established by the lending organization. The subscriber is under no obligation to link the funds lent to the direct or indirect financing of his studies;
  • the authorized overdraft.

Good to know : the maximum duration of a consumer credit buy-back is 12 years.

Reduce your monthly loan payments!

A project but already credits? Thanks to the grouping of credits, benefit from a single monthly payment at the best rate for your credits and your project!
Unique loan, broker in credit consolidation for more than 20 years, renegotiates your loans at the best rate.
Free study without commitment.

What are the consumer credit rates?

What are the consumer credit rates?

Consumer credit rates vary depending on the length of the loan and the amount of the loan. In order to attract and retain young customers, financial institutions appear more generous for student loans, the rates of which fluctuate between 0.8% and 3.5%. Standard personal loan rates offer a wider range, ranging from 2.5% up to 10%. Finally, the rates of affected consumer credits are on average between 4.5% and 9%.

Revolving credit stands out because of its evolving rates based on financial market rates. In other words: it is impossible to know the cost of the credit during the subscription. Taking into account the different criteria, the rate of a revolving credit can swell up to 20%, a real threat for unsophisticated borrowers. However, revolving credit often appeals to individuals in search of funds quickly. Faced with a lack of awareness of the final cost and the link with speculative stock markets, it is regularly criticized as a gateway to over-indebtedness.

Good to know : a financial institution applies a more advantageous real estate rate only if the grouping of loans consists of at least 60% of real estate loans.

Increase the maximum amount of a consumer credit buy-back thanks to the mortgage top-upIncrease the maximum amount of a consumer credit buy-back thanks to the mortgage top-up

To obtain a consumer credit buyout, the borrower must present an acceptable feasibility record and guarantees to convince the lending organization to make an acceptable offer. The debt ratio necessarily enters the equation, knowing that the threshold after the repurchase of consumer credit must return to the standards of the financier.

A household in financial difficulty can thus have problems in obtaining the confidence of the banks. Homeowners can then include a mortgage guarantee, for example, to obtain a lower interest rate or to extend the repayment tenure. Others may obtain a modulation of the amount of the maturities over time. This solution concerns owners who have already reimbursed a large part of their mortgage. They have an envelope coinciding with the amount of capital already reimbursed.

Example: the couple has a house estimated at 180,000 $. With the 30% discount, the financial institution will estimate its value at $ 126,000. The remainder to be paid is $ 100,000, so their available mortgage reserve amounts to $ 26,000. The couple can increase the amount of their loan repurchase by guaranteeing it with a mortgage recharge of $ 26,000.

What guarantees are required for a loan buy-back?

The level of guarantee requirement of a financial institution fluctuates according to the amount of the credit buy-back, the nature of the loan (mortgage, consumer credit, revolving credit, bank debts, etc.) and the number of loans that it brings together. The financial institution also analyzes the profile of the borrower, his personal, professional and financial situation to better assess his debt ratio, his borrowing capacity and therefore, ultimately, the risk of non-repayment of the loan..

Not everyone can provide equivalent guarantees, like a tenant versus an owner who can mortgage their property. So, from mortgage loans to joint and several guarantees, from pledging of investments to voluntary transfer of wages, what are the options available to borrowers and their implications?

Here is an overview of the guarantees in the context of a loan buyback likely to result in your efforts to benefit from the advantages of a debt consolidation: the reduction of your monthly payments, the simplification of the management of your budget and the savings generated by the possible fall in the interest rate.

What guarantees are required for a loan buy-back?

What guarantees are required for a loan buy-back?

As part of a loan buy-back transaction, the lender generally requests a guarantee from the borrower. Thus, in the event that the latter fails to repay, the bank can call on the guarantee and obtain payment of the debt.

There are a number of guarantees intended to finance the repurchase of home, personal or consumer loans. Depending on the analysis of the transaction and the borrower’s situation established by the financial adviser, these guarantees are adapted. Among them, the main ones are:

  • mortgage guarantees, which include the mortgage and the lender’s lien;
  • joint and several surety of a natural person or a surety company;
  • the redeemed;
  • the pledge of savings contracts (life insurance, term account, etc.);
  • voluntary assignment on wages.

The repurchase of credit with mortgage guarantee

The repurchase of credit with mortgage is reserved for the owners within the framework of a repurchase of mortgages. The mortgage consists in granting the right to the lending organization to cover itself in the event of default of the debtor via the real estate. The financial institution can thus seize and then auction off the house or apartment, and be reimbursed on the money collected during the operation. It is a traditional guarantee during a repurchase of credit which is obviously not without risk for the borrower.

The loan with mortgage guarantee requires going before a notary, the only person authorized to finalize the procedure. The notarial act has a cost which must be taken into account in the overall calculation of the loan repurchase. Among these costs, it is necessary to mention:

  • the fees of the public officer,
  • costs of land advertising,
  • the land advertising tax
  • registration fees.
  • buying back a mortgage also entails the payment of mortgage release costs, if such a guarantee had been taken for the previous financing.

In the context of a repurchase of home loans, it is also possible to request a PPD (privilege of lender of money). Less expensive than a mortgage, this solution is however limited: it can only guarantee an old property. Any works or constructions included in the operation cannot therefore be guaranteed via a PPD.

Good to know : for the mortgage to be valid, it is recommended that the amount of the repurchase of a mortgage does not exceed 80% of the value of the property estimated by the notary or a real estate agency.

Guarantee your credit repurchase with a surety

Guarantee your credit repurchase with a surety

The repurchase of credits with mortgage is not the only option to guarantee a restructuring of its debts when one is owner. The latter may also have recourse to bail.

If the guarantor is a natural person, we speak of a joint guarantee for a credit buy-back. This person is therefore also united in the event of default in reimbursement. In other words: the lending institution can require the surety, a relative for example, to pay a due date in the same way as if it were it which had taken out the loan. This type of collateral is mainly used for small loans such as student loans or consumer loans.

For the repurchase of credit, the guarantor can be a legal person in the form of a mutual guarantee company which practices the mutualisation of risks. The subscriber pays a sum proportional to the redemption of credit placed on a guaranteed fund. In exchange, the guarantee organization undertakes to pay the claims in the event of default. This recourse costs on average between 2% and 3% of the credit repurchase.

When consolidating loans, the surety draws its interest in two situations:

  • the mutual guarantee organization avoids taking out a mortgage guarantee;
  • mortgage guarantees make it possible to find a third party likely to put their property in addition to the guarantee (for example the property of direct ascendants).

The repurchase in guarantee of the repurchase of credit

A borrower can guarantee his repurchase of credit by operating a repurchase which is defined in law by the capacity of the seller to buy back the property sold (without obligation to do so). The time to recover the property varies between 6 months and 5 years.

The repurchase is a possible solution in the event of less cash receipts or a bank card. The advantage is that the seller can continue to live in the property even if he is no longer the owner.

The money obtained through the real estate transaction gives him a substantial contribution to take out a larger loan buyback able to repay his old loans in progress. The operation results if necessary in eliminating its filing at the Banque de France. He then finds a reorganized financial situation to buy his property as the repurchase authorizes him.

Pledge as collateral for credit repurchase

The pledge is a contract made between a debtor and his creditor, the first handing over something to the second as a loan guarantee. For example, it may be a life insurance policy or other secure financial savings products such as a term account. The collateral is then blocked during the loan period.

In the event of default in the payment of maturities, the lending organization recovers the pledged products to sell the securities and reimburse themselves with the money from this operation. This alternative has the advantage of generating low costs but is mainly intended for individuals who have a large portfolio of securities (securities, stocks, etc.).

Good to know : if the sum pledged is less than the amount of the credit repurchase, an additional guarantee can be claimed by the bank.

The borrower can also pledge property as collateral for grouping loans like a vehicle. The pledged property cannot then be sold without the agreement of the financial institution or only when the total repayment of the loan is made.

Voluntary assignment on salary as a guarantee of credit repurchase

To take more security and validate the repurchase of credit, the lender can demand an assignment on pay. The latter ensures the payment of monthly installments by directly deducting the amount from the salary. This attachment of wages is carried out via the employer, the latter not being informed of the reason.

Voluntary assignment on pay is often inevitable for owners as well as for tenants whose debt ratio is high and the amount of credit bought back consequent. An employee who chooses to arrow part of his salary voluntarily towards his creditor completes a declaration to this effect at the registry of the district court.

The law regulates the transfer of wages:

  • it notifies a maximum quota not to be exceeded;
  • it establishes a legal minimum for the remainder of living for remuneration in 2018 of less than $ 21,760 / year (example: a ceiling of 1/10 th of the amount for annual remuneration between $ 3,760 and $ 7,340);
  • it excludes certain amounts received (example: family allowances paid by the employer).

Loan insurance for credit repurchase

Loan insurance for credit repurchase

The lender can also apply for additional borrower insurance : it is disability death insurance which can be supplemented by insurance in the event of sick leave and loss of employment. It is a cover for the financial institution in the event of death or accident of life, but also for the borrower who avoids placing on his family the burden of the repayment of the installments. This is borne by the insurer up to the guaranteed percentage and the damage suffered.

In the context of a repurchase of credit for retirees, its cost is far from being negligible. It is possible to negotiate with the financial institution or to use the insurance delegation to take out personalized credit insurance more suited to the borrower’s profile. Note that loan insurance can now be canceled during the first year of the contract or on the anniversary date. The only condition is that the level of cover is at least equivalent.

Credit buy-back without guarantees: is it possible?

Credit buy-back without guarantees: is it possible?

Redeem a loan without having to provide collateral? Yes, it is possible. This solution simplifies the file, avoids a certain number of administrative formalities and saves on warranty costs.

However, this possibility is subject to the appreciation of the bank. Thus, borrowers with a very attractive profile for the lender (significant wealth, level of income, etc.) will be able to claim a loan buy-back without guarantees.

It is therefore necessary to prepare your dossier well and to highlight its strengths. Obtaining a loan repayment without collateral is also possible when financing small amounts, in particular in the context of financing personal debts and consumer loans.

Credit for retirees: under what conditions?

The retirement period is an opportunity to satisfy many personal or family projects (moving, travel abroad, housing work, rental investment, etc.). But it’s all about money.

With the decline in income, are the personal or real estate projects of retirees still financable through credit solutions? Is there an age limit for consumer credit? Is it possible to borrow after 75 years? Is the mortgage loan insurance rate based on age exploding? So many questions about the credit for retirees who tease you. Rest assured, we tell you everything.

Credit for retirees: for which projects?

Credit for retirees: for which projects?

16.1 million is the number of retirees in France identified by the Research, Studies, Evaluation and Statistics Department of the Ministry of Health (DRESS) who received a pension at the end of the year 2016. Adding up those receiving a survivor’s pension, this figure climbs to 17.2 million.

The 60 and over age group should form a quota of 20 million people by 2030 because of demographic aging but also the increase in life expectancy (better lifestyle, technical and technological developments in disease detection, risk prevention campaigns, particularly in the workplace, etc.).

In terms of resources and after social security contributions, the average pension amounted to $ 1,294 / month, with a certain difference between women ($ 1,070 gross / month) and men ($ 1,740 gross / month). The fall in income at the time of retirement is estimated between 15% and 40%.

However, a retiree is a consumer like any other, who also tends to spend more (travel, leisure, development work, rental investment, intergenerational assistance, etc.). This is called the silver economy (or economy of seniors), a branch of activity which brings together all providers of services and products intended for the elderly in health, transport, security or even habitat.

The tax credit for non-taxable retirees

The tax credit for non-taxable retirees

Are you retired and not taxable? Then the tax credit is a solution available to you. All home service activities such as meal preparation, laundromat activities, assistance, transport, cleaning, gardening or DIY are concerned.

This wide variety of activities on offer allows retirees to benefit from a reduction of 50% of the sums committed in this context. At most, the expenses giving entitlement to this allowance are capped at $ 12,000 for a single person and $ 20,000 for a couple.

Personal loan for retirees: a relevant financing solution

Personal loan for retirees: a relevant financing solution

Admittedly, retirees’ incomes are sometimes too limited, but they can count on credit solutions to finance their trip abroad, the replacement of a vehicle or the performance of interior fittings in their house or apartment. They can take out consumer credit quite easily because their borrower profile is considered reliable by banks and lenders for at least three reasons:

  • their retirement constitutes stable income, the specter of unemployment being eliminated;
  • 80% of seniors own their homes, some having even completed the reimbursement of their monthly payments;
  • retirees have a high debt capacity.

Not only does consumer credit ignore age, but it can be obtained on advantageous conditions for the reasons mentioned above. To take out consumer credit, insurance is optional and the obligation to fill out a health questionnaire only applies when taking out death and disability insurance. The repayment monthly payments are low, therefore with a less impact on the purchasing power. Finally, seniors with assets can guarantee their loan on it.

Good to know : the personal loan is not affected unlike for example a car loan. It requires no proof, the use of the borrowed amount being left free.

The repurchase of credit for retirees: finding room for maneuver

The repurchase of credit for retirees: finding room for maneuver

The credit consolidation solution is a remedy for retirees who wish to finance a new project while they continue to repay one or more other credits. The process is simply to combine several bank loans to make one. The idea is to clarify the situation on current loans but above all to negotiate with the lending institution more favorable conditions at the same time as the transition to retirement is synonymous with loss of income.

For a retiree, combining his credits allows you to review the repayment period as well as the level of monthly payments. The objective is to extend the term of the loan to take advantage of a drop in the amount of the single monthly payment, while financing a new project. Its expenses of repayment of the credits reduced, the senior is able to compensate for the fall in his income.

The loan repurchase can group the current real estate loans or the consumer loans. Certain lending organizations precisely formulate senior loans (or for early retirees). These contracts may propose repayment periods for the repurchase of credits of up to 85 or even 95 years. Everything then depends on the repayment capacity and the debt capacity of the retiree.

If the banks can request the subscription of a death-disability insurance beyond a certain age to cover themselves, the senior has the right to refuse including if it presents an aggravated health risk as framed the convention AREAS (Insuring and borrowing with a health risk). However, the retired borrower will have to post serious guarantees in the event of impossibility of meeting its maturities by means of its inheritance or its savings (life insurance contract for example).

Mortgage for retirees: anticipate retirement

Mortgage for retirees: anticipate retirement

In theory, there is no age limit for taking out a mortgage. However, many people borrow some time before retiring. The over 50s were thus only 11% in 2013 to validate this choice, a figure which now climbs to 17%. But the transition to retirement acts as a switch since only 4% of seniors over 60 have taken out a mortgage.

It is obvious that senior citizens represent a higher risk for lending organizations, which rely on people who can repay the loan. Banks therefore play the security and the ability of the retiree to repay his loan, rather than the nature of the real estate project. As a result, the bank does indeed take a kind look at customers who are retiring. They generally have stable assets and income, and no longer have dependent children.

The lender even anticipates the decline in retirement income, either by taking into account only 70% of income when assessing the debt capacity and quantifying its offer, or by reducing the amount of monthly payments. repayment in time. Example: monthly payments can be reduced from 30% to 90% at the time of the subscriber’s retirement in order to take into account the loss of income.

Mortgage without contribution for senior: is it possible?

Mortgage without contribution for senior: is it possible?

Obtaining a mortgage without contribution is an option open to retirees. Indeed, certain life events (personal project, help for children or grandchildren, etc.) can lead to depriving oneself of its contribution.

However, it is still possible to obtain a mortgage without contribution for seniors although this approach is more complex. To optimize your file, you must strictly comply with bank debt standards and the age at which credit ends. Soliciting several financial institutions is also essential.

Senior real estate loan: managing death and disability insurance well

Senior real estate loan: managing death and disability insurance well

When the contribution or income is significant, a retiree can perfectly consider making a mortgage at the age of 60 or even 70 years. However, the lending institution imposes more stringent conditions and sets a high cost for death and disability insurance. Advancing age is correlated with the appearance of pathologies or the accumulation of medical history. The bank protects itself by increasing the rates on the borrower insurance which takes over in the event of the death of the subscriber.

Taking out a mortgage up to age 65 is no problem. Lending institutions formulate negotiated group insurance offers which allow them to pool risks between members. On the other hand, from 65 years of age, death-disability insurance is a concern, its coverage not extending beyond 75 or 80 years. Thus, making a mortgage at 65 years over a period of 15 years becomes complicated. Using insurance delegation allows retirees to take out a specific senior contract with coverage up to 80 years or even 90 years.

Please note, the cost of borrower insurance can cause the rate of wear to exceed, which means that the client cannot be financed, especially in the event of illness which causes a significant increase in the premium. Financing without insurance then appears to be the solution. The retiree can guarantee his loan by a third party who will act as a surety or by pledging the loan on a life insurance contract or on a stock market portfolio.

In the event of death, the bank becomes the beneficiary, the latter may also take out a mortgage on the property owned by the deceased retiree. It can also insure only the younger or healthy spouse.

Auto credit for retirees: under what conditions?

Obtaining a car loan when you are retired requires following granting conditions similar to those of a personal loan or a mortgage. Thus, it is essential to minimize the duration of borrowing while respecting a debt ratio of 33% maximum.

Good to know: some banking establishments accept to lend without insurance in return for the pledge of an investment or the taking of a pledge on the vehicle.

What are the credit organizations for retirees?

Seniors can refer to all traditional financial institutions such as banks and bancassurance. It is also possible to request the services of a specialized broker in order to simplify the process undertaken and obtain the best rate conditions.

How to choose your revolving credit?

Revolving credit is an easy but expensive solution to speed up the completion of a project. It is therefore not chosen lightly. It is particularly important to opt for a credit at the best rate, because the interests tend to be higher than with a conventional consumer loan.

What are all the criteria to take into account for this type of credit? Answers.

Compare offers: an essential step

Compare offers: an essential step

When you approach, you will quickly see that revolving loans are very similar, even between competing establishments. The differences from one revolving credit to another relate to the interest rates charged, to the maximum amount of the envelopes, or to the availability or not of a bank card (or more exactly a card credit). And not surprisingly, some establishments are more expensive than others (TEG varying from 14 to 16%).

The large number of establishments offering revolving credits therefore makes a real comparison between revolving credits essential in order to choose the best rate of revolving credit, that is to say the cheapest revolving credit.

Another criterion to take into account: the use that will be made of this credit. It is essential to use your revolving credit well, and therefore to choose it according to your needs. If your goal is to be able to postpone purchases over time, it may be wise to opt for a loan backed by a payment card (which is not automatic). By making this choice, you can postpone your purchases and spread them over several months.

Choose an offer according to your repayment capacity

Choose an offer according to your repayment capacity

Have you already determined your funding needs but don’t really know how much it will cost you per month? Take a few minutes to perform a personal loan simulation online and assess your ability to repay revolving credit. This will allow you to determine the most advantageous offers and be certain that you have sufficient means to repay your credit.

The process is very simple: you just need to choose and enter the amount of your project or the desired monthly payments, enter the duration of the reimbursement and adjust the amount of the monthly payments or the project if necessary.

Reduce your monthly loan payments!

A project but already credits? Thanks to the grouping of credits , benefit from a single monthly payment at the best rate for your credits and your project!

Good Lender Loan, broker in credit consolidation for more than 20 years, renegotiates your loans at the best rate.
Free study without commitment .

Choose the right formula

Choose the right formula

Choosing revolving credit also means opting for the formula that best meets your financing needs. There are four revolving credit formulas:

  • The classic formula. The bank opens a line of credit for you to draw on. You ask your creditor for a transfer of the amount of your choice to your checking account (always within the limit of the credit granted). Another possibility: the bank will issue you a check for the amount of the purchase you wish to make.
  • The credit card. With this formula you have a bank card issued directly by the bank and usable like any bank card, both to withdraw money from ATMs or to pay merchants directly.
  • The private card. This is issued by a brand or a network of traders (hypermarket, mail order company, etc.) with which the lending institution has negotiated its use. It allows you to make your purchases.
  • The private card. This is issued directly by the lending financial institution. It can be used in store networks that collaborate with it.

Check certain points of the contract

Check certain points of the contract

Have you found the revolving credit that seems best suited to your needs? Are you about to sign the contract that binds you? Are you apprehensive about this moment and wondering what are the important points to check? Revision of interest rates, repayment terms, etc. Before signing, here are some keys to get through this stage serenely.

First, note that credit offers must mention that the interest rate is revisable, but also that you will be informed beforehand, by mail, of a rate revision and that you will have 30 days after receipt of this information to refuse this revision!

These are particularly important terms since they distinguish between conventional credit and revolving credit. A conventional loan provides for repayment at monthly installments and at fixed rates for a cost known when the contract is signed. This is not the case with revolving credit, the cost of which depends on variables unknown at the time of subscription.

Our advices

Our advices

In summary, using this credit requires comparing the formulas used to find the best suited and safest. The variables (rate, fees, mode of withdrawal of funds, subscription method) are indeed very important and differ significantly from one organization to another. However, your approach cannot be limited to this. It is also essential to take into account your income and your other current credits , so as not to accumulate monthly payments that you would no longer be able to assume. A revolving credit simulation can then be a good way to get an idea of ​​your repayment capacity.

Watch out for over-indebtedness! To avoid any runaway, keep in mind that this capital reserve of a revolving credit constitutes a loan to be repaid after application of interest rates.

Where to get a loan to the unemployed?

You ask the question: “How to live without money?” The answer is very simple – no way. You won’t last long without money, because you can simply forget about food, travel by public transport and paying utility bills. If the unemployed can still somehow live without paying bills, then without food – no.

In addition, no one canceled if you are unemployed, unexpected repair of the refrigerator, the upcoming birthday of a loved one or an urgent need to buy seasonal clothes. It’s better not to wonder how to survive in such conditions but simply lend some money. So, even if you are unemployed, you can take a loan online. Yes, that’s real.

Where does the unemployed get a loan?

Where does the unemployed get a loan?

When you hear the word “credit”, you immediately think that it certainly does not shine for you? Good Finance will convince you otherwise. There are two options for taking a loan:

  1. Ask for a loan at the bank;
  2. Get a loan from a microcredit organization.

In the first case, it will take a long time to upholster the banks’ thresholds in order for the loan application to be approved. For such large financial organizations as a bank, important references, and guarantees that your savings will be enough to repay the loan.

One of the main documents that you are asked to provide at the bank is a certificate of employment and the movement of money in accounts. Guarantor services may also be required. But what then is the unemployed to do? Do not carry valuables to a pawnshop? The answer is simple – you can contact Good Finance. You will be able to get a loan without unnecessary questions and the collection of necessary documents. After all, it happens that money is needed urgently.

How can an unemployed get a loan at Good Finance?

How can an unemployed get a loan at Good Finance?

You can take a loan in Good Finance in just 15 minutes and feel free to dispose of the funds received at your own discretion. So how to get a loan to the unemployed? You must have a passport and an identification code with you. On the Keshinsky website, register an office, fill out a simple application form and indicate the bank card for which you want to receive money.

If the unemployed draw up a loan at Good Finance for the first time, then he can take up to 3000 dollars. The more often the unemployed will take money, the more they will be able to borrow at lower interest rates. The site has a convenient calculator that will show the final amount for payment. There are no hidden fees.

Why is it convenient for an unemployed to get a loan from Good Finance?

Why is it convenient for an unemployed to get a loan from Good Finance?

  1. Credit even to the unemployed! We will not ask how much you earn and we will not require a certificate of income. It doesn’t matter to you why you needed money on credit.
  2. No reference needed. A passport and an identification code are all documents needed by an unemployed person in order to apply for a loan. But remember that you should be 18 years old.
  3. Money on the card in 15 minutes. The application will be processed within 15 minutes and you will be able to receive money on the card.
  4. No hidden fees. The site has a calculator that will help calculate interest depending on the amount and maturity of the loan. Everything is transparent, there are no hidden fees.

Good Finance will give the unemployed money without any questions. You can forget that there is no way to live at the usual level due to the fact that you are temporarily unemployed.

Where to get a loan to a pensioner?

Is it realistic to live in Ukraine on one pension? Unlikely. If you are a senior citizen and officially do not work anywhere, then you have to learn to save and carefully calculate your expenses. But unforeseen expenses often happen, which it is impossible to predict, for example, medicines were needed.

When there are no pending funds

When there are no pending funds

The question arises, where to get the money? It is not always possible to borrow from relatives or friends, and the bank requires a whole bunch of documents.

You are a senior citizen and you do not have time to wait until the bank considers the application and issues a verdict? A microcredit organization will come to the rescue. You can not be afraid that the money will run out unexpectedly and no one will lend.

Benefits of an MFI for a senior citizen:

  1. Credit to everyone! No one will look at the fact that you are a senior citizen and you have a small monthly income. There is no need to look for guarantors or property for collateral. Getting a loan is easy.
  2. No inquiries. In order for a pensioner to receive a credit on the card, you do not need to collect documents that the bank usually requires. All you need is a passport of a citizen of Ukraine and an identification code.
  3. Consideration of the application in 15 minutes. When the bill goes for minutes, it is important to get money quickly. Application for a loan can take up to 15 minutes. You can get money on your retirement card.
  4. No hidden charges. You immediately see how much you will need to pay after the end of the loan period. A convenient calculator allows you to choose the amount, loan term and immediately see the final loan amount.

Getting a loan at a bank for a senior citizen may be delayed. The bank will request the following documents:

  • Ukrainian passport;
  • pensioner’s ID;
  • a certificate from the Pension Fund about the pension for the last 6 months;

The pensioner needs to confirm solvency because the credit term directly depends on this. If a pensioner cannot provide confirmation, then the loan term will not exceed 1.5 years. With the confirmation of financial capabilities, a pensioner can get a loan for up to 5 years. But if money is needed urgently and there is no time to collect information and wait for the bank’s decision, then the best option is to get a loan from an MFI. It doesn’t matter if you are a working or non-working pensioner.

How to get a loan to a pensioner?


It’s simple, every pensioner will be able to take a loan online. You need to go to the Keshinsky site and register a personal account.

There you will see a short questionnaire that you must fill out. You should only have your passport and identification code with you. If you take a loan for the first time, the loan amount will not exceed 3000 dollars.

How to apply for a pensioner loan?


The process takes no more than 15 minutes. Fill out the form and send the online application. The manager will process the request as soon as possible, and the money will go to your bank card. You can even indicate the card on which the pension comes.

The pensioner decides how much he wants to take on credit. The site has a convenient calculator that allows you to calculate the loan term and get the final amount payable. If you often take a loan, you can take a large amount, at lower interest rates.