Grouping its loans is currently very interesting, because of the historic decline in rates, whether for real estate loans or consumer loans. Here is the complete user manual on the simulation of this operation.

Calls to action debt consolidation finance

The concept of help from consolidation now is based on a basic principle: to collect several debts into one. The advantage of using this operation is to reduce the number of monthly payments and for some profiles to reduce the cost of their loans, especially when it comes to real estate loans.

Simply, it is clear that there are many competitors in this market, which today enjoys a more positive image than before. Initially, households associated this formula with the scam, but more and more consumers resort to this banking operation to revise down their monthly payments.

In order to succeed at the best of its credit buy-back, it is important to compare the offers of different organizations using a credit redemption calculator, more commonly known as credit redemption simulation. This simulation allows you to define your eligibility but also to know the rate and conditions of your financing.

How the credit redemption simulation works

There are two types of simulations: the one that hides a form and the one that proposes a monthly online payment amount. The first simulation is active on 95% of the websites offering offers to buy loans in France.

>> Simulation: step 1

It is, in fact, to fill in its financial information: number of credits in progress, the remaining amounts to be paid back, the current monthly payments, the expenses, the income than the coordinates to receive the result. This information is essential for a simulation of credit redemption. The forms can seem long and tedious but it is necessary to be able to establish a simulation.

>> Simulation: step 2

Depending on the site on which the form has been filled in, one or more organizations will establish a quick calculation based on the information provided (hence the importance of these fields) and will then communicate it to the user, either by telephone or by e-mail, or by mail. Some simulators offer a way to send the answer.

Thus, the customer receives an estimate of his future monthly payment as well as the proposed rate and the amount of the refinancing. He can thus compare with his current situation to weigh the pros and the cons.

>> Simulation: step 3

Regarding the third step, the household is the only decision maker. He may decide to continue with the organization that offered him a simulation or compares it with other providers to obtain the best offer.

Credit redemption simulation online: some details

The credit buyback market is made up of organizations belonging to two categories: the banking intermediaries and the banks which it is important to compare well before engaging in a financing offer.

Customers’ banks can offer offers with simulations, only they stop at the safest profiles, ie few households will get an agreement.

The second category are those of the banking intermediaries, they work with the banks specialized in the purchase of credits, they can be interesting competitors with the banks, only it is useless to put them in competition since they work with the same banking partners.