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My professional situation has changed: how to optimize my credits?

A change in employment situation, the loss of a job or a conversion can lead to profound changes in the management of finances, the optimization of current loans can help restructure its loan repayments and get back on track.

Change of work, what to do credits?

Change of work, what to do credits?

It is common to see professional changes over the course of a lifetime, some want to start a personal project, others consider conversions or just the launch of an entrepreneurial activity, to start his own business. These different changes can have an impact on the repayment of consumer and / or real estate loans. That is to say that in the event of a fall in income, even temporary, an imbalance can form and cause the borrower (s) in a difficult situation to manage.

The idea is simply to pool credits to reduce the amount of monthly repayments, this can anticipate a change in employment situation and be able to cope with more difficult months. This change is only possible through the subscription of a bank operation, the so-called loan consolidation, but this financing must be seized when the situation is suitable.

Group your credits at the right time

Group your credits at the right time

Loan consolidation is a bank transaction that provides a borrower with the opportunity to get back on a better footing, following an accumulation of credits or a change of circumstances. Whether it is related to a happy event or not, it is important to always keep a handle on your finances and not wait for an imbalance to resort to a readjustment. Optimizing your loan repayments means being able to reduce or increase the amount of your monthly payments at any time and the credit consolidation allows you to make this type of adjustment.

Consolidation of loans is therefore a banking operation that allows to gather several loans in one, it can as well be consumer loans as mortgages, simply it is necessary that the borrower is able to be able to subscribe to this type of financing, that is to say, present solid guarantees as to his professional situation, it is recommended to resort to a repurchase of his borrowings before envisaging a reconversion or a formation, taking advantage of his current work.

Simulate the grouping of its credits

Simulate the grouping of its credits

It is not easy to realize the effects of a credit union on its finances, so it is possible to use an online simulator, this tool allows to submit an application by specifying the amount credits to be bought back and current income. This makes it possible to be informed quickly of the possibilities of financing and especially to have an estimation of the new reduced monthly payment.

By simulating, one can also compare loan offers offered by different credit institutions and brokers, which facilitates the selection of the best proposal. It is particularly possible to obtain an amount that will be dedicated to a new project, it is very useful when the borrower wants to create an activity for example.