Debt consolidation
Combine many credits into one to reduce your monthly payments.
pply for debt consolidation with BERDINVEST
To group your loans
Debt consolidation is a type of loan offered by credit institutions and banks that consists of grouping together several loans. The aim is to reduce the borrower’s monthly payments and simplify the management of his finances.
This operation has many advantages, it allows the borrower to :
lower the rates of his different loans with a discounted market rate;
combine several monthly payments into a single monthly withdrawal
adapt their financial situation to their budget, and escape a potential situation of indebtedness, or even over-indebtedness;
simplifying procedures by having a single contact person.
For the borrower, this is a global and lasting solution, aiming at a more peaceful financial management.
Anyone with outstanding loans can apply for a loan repurchase. Whether you are a tenant, owner or housed free of charge, young or senior, working or retired, on a fixed-term or temporary contract (provided that the co-holder has a permanent contract), employee, civil servant, tradesman or tradeswoman, or self-employed, you are eligible.
Simply put, the buyback offer will be based on your personal situation, both personal (married, single, divorced, with or without children, etc.) and professional. It will take into account not only your outstanding debts with the various banks (i.e. the outstanding capital), but also, and in particular, your foreseeable and incompressible current expenses (energy, transport, food…), rent, and alimony paid.
All these elements will then be deducted from your income (salary, state aid, etc.) in order to determine your level of indebtedness, the amount you have left to live on and your ability to repay. This is known as the debt ratio. This indicator is the main criterion for accepting a loan repurchase.
If you have several outstanding loans and wish to reduce your monthly payments or simplify them to have just one, then the BERDINVEST loan buy-back is the solution for you thanks to its fixed annual interest rate of 2.69% whatever your debt situation.
How is the debt consolidation process set up?
The credit repurchase is set up by a financial institution, different from the one(s) that initially granted the funds.
This organisation (traditional bank, credit institution, lending platform) may be required to pay creditors for all the loans taken out. These credits (terminated in the previous institutions) are transferred to the new organisation and take the form of a new single contract.
The loan repurchase may be concluded for a shorter or longer period. It all depends on the amount the borrower can repay each month. To accurately assess your future monthly payments, but also to find out the total amount of the repayment following a possible buyback, it is more than advisable to use a credit buyback simulation tool.
A credit consolidation offer is also accompanied by optional customisable insurance. Because no one is immune to a drop in income, whether as a result of job loss, the death of a spouse or total incapacity! This insurance offers substantial financial security to the borrower, since in the event that the borrower is faced with one of these situations, all or part of the amount of the current loan (outstanding capital) is covered.
Things to remember
The aim of buying back credit is to combine all your loans into a single contract, which makes it possible to reduce your monthly payments, avoid as far as possible getting into debt or even over-indebtedness and to think about new projects. Most forms of credit are eligible (personal loans, home loans, debts linked to an overdraft at the bank, etc.). It is open to all borrower profiles, and can possibly be combined with another loan to finance a new project when the available income is no longer sufficient.
If you have several outstanding loans and wish to reduce your monthly payments or simplify them to have just one, then BERDINVEST’s debt consolidation is the solution for you thanks to its fixed annual interest rate of 2.69% whatever your debt situation.
Ready to make your project a reality?
Committed to your service for several years, BERDINVEST has carried out projects with a total value of more than 28,956,000 €. Your project should be next.