Redeeming credit of 30000 euros
The principle of redemption of credits
The redemption of credits for a sum of 30,000 euros is considered a classic repurchase of credits, which will therefore be governed by the law of consumer credit. This is a financial operation that consists of collecting several loans in progress, with the aim of reducing the monthly amount of the amounts reimbursed. It can be several types of loans (consumer loan, personal loan, loan, revolving credit, car loan, etc.) but also debts contracted and can be settled. In the case of a home loan, it is more like a mortgage purchase.
To lower monthly payments, the purchase of credit will be concentrated on a single new credit, which will necessarily be spread over a longer period. The benefit of the best interest rate is an important element to make real savings. This may be fixed or variable, with an average repayment period ranging from 12 to 120 months for a sum of 30,000 euros.
The principle of the redemption of credits is above all to update the household’s monthly budget. To restore balance, the goal is to reduce the monthly repayment burden, hence the importance of extending credit time while determining a new monthly payment adapted to the household’s financial situation. If the duration of the credit is kept identical, the purchase of credits costs more. In the amount borrowed, it is also possible to provide for the financing of a personal project in addition to the loans and debts to be repurchased.
Optimize your budget
For an operation which concerns an amount of 30000 euros, it will mainly be a question of collecting all the consumer credits. These may be revolving credits such as store cards, a car loan and / or a traditional personal loan. Often by adding up all the monthly payments, the sum to be refunded can reach several hundreds of euros. A difficult situation for the finances of the household and the end of the month. With a redemption of credits of 30,000 euros whose maximum duration can reach 120 months, the reimbursement charge can be almost halved. The savings made on the amount of the monthly payment can go up to 60%. In this case the repayment period of the credit will be considerably longer.
To apply for credits online through the various tools that are present on the net is a good tip. In a few clicks, we can go around the lending institutions and their offers. The simulators are as fast as they are efficient to find the best rate.
The advantages of such an operation are numerous:
- Improvement of the standard of living
- Simplification of financial management because only one credit to manage
- Decrease in the debt ratio
When the repurchase of credits is subscribed with a sum of additional money which will serve as cash, this one is made available freely. This may include paying school fees to his children, financing work or equipment, a wedding, traveling, etc. The strengths of the cash loan in addition to the consolidation of loans in progress are a fixed APR, a more attractive rate and a sum adapted to its needs.