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Consumer credit: understand the basics!

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  • Consumer credit: understand the basics!

Consumer credit financing is one of the financial products that allows its users to consume throughout their journey.

It is a loan of money marketed by banking establishments and financial organizations under different aspects, and it is intended exclusively for individuals.

The consumer loan applies to purchases other than those associated with real estate.

Consumer credit to obtain a cash envelope in order to carry out new projects (works, etc.)

Consumer credit: better understand its use

The money borrowed in the form of a prior loan offer undoubtedly represents for French households, a real financial lever making it possible to release sufficient cash in order to proceed to the payment (s) of consumer goods and services. , and this without instantly paying the full price to pay at the time of purchase .

The liquidities are paid into the bank account of the debtor (s) by the action of a release of funds as soon as an agreement is reached on the characteristics of the proposed financing plan, between the subscriber (s) ) and the creditor.

Consumer credit: what to choose?

It is difficult for the average consumer to determine which consumer credit to choose when making a purchase. So the question to ask yourself is " Consumer credit: what to choose ? "

Depreciable loans from the first payment

The ideal, in order to obtain the most adequate consumer credit for the expenditure made, and to choose the credit contract whose particularity is the subject of the financing in question:

  • Auto loan in the case of the acquisition of a vehicle.
  • Loan works to undertake DIY or structural work.
  • Cash loan for unallocated use.
  • Ready blow to face the vagaries of life.
  • Loan allowed if it is a question of obtaining the driving diploma.
  • Student loan to pay for the expensive cost of university or business studies.

Revolving credit without proof

But also there is the money reserve with reconstituting operation, that is to say that when the repayment of a monthly payment the part of the capital can be reused.

And of course, drawing from the reserve again generates the payment of a portion of debit interest at the time of payment of the due date, and so on without any notion of the end date of the loan.

Too often, banking and financial distributors issue revolving credit to consumers without establishing a real in-depth study of their financial situation. Thus an abusive subscription of money reserve is an irresponsible management behavior which leads to the total loss of the management of the personal budget.

Therefore, it is necessary to act through the establishment of a revolving credit buyback operation in order to restore the situation before avoiding excessive debt and personal bankruptcy !!!

What is the best consumer credit?

With the aim of obtaining responsible distribution from lenders, it has been reformed many times by the government in recent years.

Reforms which consist in protecting the consumer by limiting the risk of indebtedness which ultimately results in over-indebtedness of the household.

The best consumer credit is that which is controlled thanks to secure borrowing conditions, and a monthly charge in harmony with the household budget.

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