The Ile-de-France region is one of the most dynamic French regions. It includes eight departments: Paris, Seine-et-Marne, Yvelines, Val-d’Oise, Val-de-Marne, Essonne, Hauts-de-Seine, Seine-Saint-Denis. There is no surprise: Ile-de-France is the region with the highest GDP. If the Ile-de-France does not know the crisis, the Ile-de-France face cash flow problems? This article takes a quick look at the quality of life before addressing the pooled credit solution as a barrier to the spiral of over-indebtedness.
Credit restructuring in Ile-de-France: THE solution?
Is it better in Ile-de-France than in other French regions? The Ile-de-France, central point of the French metropolis is, by far, the region that moves the most. Even if the unemployment rate is low and the main cities are dynamic, living in Paris, Versailles, Nanterre, Melun or Evry remains expensive. In Credither, for example, one household out of five encounters cash concerns just as in Bobigny or Pontoise. If we questioned the Paris area residents, they would all agree that the price of real estate is high, not to mention the costs of the various services offered (price of a parking lot for example) and the amount of the various taxes. (local taxes, property taxes…).
The causes of the redemption of credits in Ile-de-France
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According to INSEE, the debt of the Paris region is particularly generated by the purchase of real estate. It has also been noted that the Paris region has increasingly resorted to various subsidies and loans. Investment adds to monthly expenses. This point can quickly tip a household into debt. Other causes of indebtedness are to be listed:
- Overconsumption of credits.
- The change of life ( birth of a child, dismissal, retirement… ).
- Accidents ( accidents at work, long illnesses, road accidents… ).
All of these situations have an impact on budget management. Before falling into over-indebtedness, strategic decisions must be made that will enhance the household’s resources. In fact, it is legitimate to wonder if turning to the redemption of credits is a good way to increase its resources and mechanically its rest to live.
Loan restructuring is one of the possible solutions to lower the cost of financial debt. This depreciation of the amount is due to the interest rate as well as the duration. The longer repayment takes place, the lower the amount of financial debt. On the other hand, you should know that the total cost of the credit is much higher without forgetting that there are ancillary costs such as management fees or allowances for the prepayment of outstanding loans.
The types of loan aggregation proposed
To limit the exaggerations and make this financial product a partner for indebted consumers, the French government has introduced rules. In fact, the financial organizations must imperatively play on the transparency and on the information of the risks incurred by this device. In addition, the Lagarde law requires the lending organization to take the necessary steps to put an end to the loans bought back.
It is also important to understand that there are several types of credit restructuring:
- The solution that merges consumer credit.
- The solution that consolidates real estate loans.
- The solution that mixes real estate loans with consumer credit.
This cascade of possibilities allows individuals and professionals alike to find the solution most in line with their profile and their needs.
For credit restructuring to be an asset, it is necessary to learn and compare the different offers of the market. An in-depth study will allow you to turn this exclusive loan into a true ally.