It is obvious that today what is called credit redemption no longer has secrets for individuals.
In fact, the habits of consumption in this consumer society lead the consumer to knowingly use excessively the loan of money type consumer credit. It is in full knowledge of the use of credit that some people plunge into deep debt, and the solution found is to subscribe to a loan consolidation contract.
Better knowledge of consumer credit and better understand what are the different types of money loans type credit redemption?
The law on consumer credit and its scope
Conditions that refer to a Consumer Credit:
- It granted to individuals who are individuals, and whose need to obtain cash is for consumer projects.
- The cash envelopes distributed to borrowers meet a range of amounts financed ranging from two hundred euros (€) to seventy-five thousand euros.
- An offer of credit agreement (OCC) written in writing is to be retained by the borrower.
- The payment period must exceed three months.
- The IRAs that represent the amount due for prepayment indemnities (partial or total) is 1% if the depreciation period is> 1 year, or 0.5% if less than one year.
- The loan agreement is acceptable to the lender for a minimum of 15 days.
- The contractor (s) have the right to withdraw until 14 days after the date of acceptance of the proposal.
- The financial institution may assert its right of approval after the signature of the client. That is, he can refuse to release funds to the client’s account.
The characteristics of the unsecured loan buyback loan
Unsecured Loan Repurchase Loan is also known as Loan Repurchase Loan Person l is generally at fixed and non-floating interest rate.
The term of a maximum of one hundred and forty-four months, and some banks repurchase loans have a deferral period of one month.
No guarantee is required by the creditor, only the durability of the debtor’s income is retained!
The consolidation of consumer credit without mortgage is the subject of a re-christening Robinment under the applicable regime of the LCC.
Mortgage pooling and its regulation
Mortgage pooling transactions with more than 60% of real estate loans repurchased fall under the applicable real estate regime (LS2), and conversely, for an immo share of less than sixty per cent the regulation is that of the LCC (LS1).