The purpose of buying back credits, also called grouping of credits, is to combine all of your outstanding credits into a single monthly payment, the amount of which is less than the sum of all your current monthly payments. A real solution to the difficult management of the budget often caused by the accumulation of credits, the grouping of credits does not however benefit from an image at its height. So to fully understand its operation and its stages, nothing like a concrete case. Lite Lenders Finances lifts the veil.
On December 06, 2018, Mr. and Mrs. F decided to combine their credits to reduce their monthly payments and carry out work. They turned to Lite Lenders Finances, a credit buy-back organization headquartered in Vienna. Hanaa, one of our analysts, receives the request. In order to prepare their case and understand their need, Hanaa exchanges them with them. From then on, our analyst studies the request and performs various analyzes to quickly provide a response. On December 7, 2018, Hanaa returned to Mr. and Mrs. F to make them a proposal and asked them for a list of documents to provide. Hanaa takes the opportunity to explain to them the different stages of credit consolidation.The request was therefore processed within 24 hours.
Here is the situation of Mr. and Mrs. F:
5 consumer credits to take back – $ 27,839
1 overdraft – $ 2,000
A cash requirement to carry out work – $ 9,936
It is therefore mainly a need for consolidation of consumer credits in the case of Mr. and Mrs. F.
The responsiveness of Mr. and Mrs. F is exemplary, the requested documents were sent to Lite Lenders Finances the same day. From this moment, Hanaa analyzes the situation, carries out the most favorable financial arrangements, an amortization table in fine and prepares the file of Mr. and Mrs. F for presentation to the various partner banks. 7 days later, on December 14, 2018, the file is ready and sent.
This is the pivotal step. The different partner banks study the files and propose a financing offer. The more complete and well assembled the file, the faster the response time. 72 hours later, Hanaa receives an agreement from a bank and offers it to Mr. and Mrs. F who immediately accept it. Funding is put in place the next day. The grouping of credits from Mr. and Mrs. F allows them to drop in monthly payments by $ 152 per month and grants them additional cash: a big boost for a new life. Mr. and Mrs. F only regret one thing, not having used credit consolidation before.
Why did you choose Lite Lenders Finances? Mr. and Mrs. F were looking for a structure that offers debt buyout around Lyon. After different loan buy-back quotes, their banker advised them on the human support of Lite Lenders Finances. Do you have questions about grouping credits? Lite Lenders Finances provides you with free online simulation tools such as depreciation calculation.