What profiles for a credit redemption?
All credit applications are selected on file and the final verdict depends on the profile of the borrower. Credit redemption does not exempt this constraint, since the organization must ensure that the loan applicant is solvent. His professional stability, his charges and his ability to repay the new credit will be studied by lenders. Among the candidates, are some profiles more willing than others to obtain a credit buy-back?
Tenant or owner?
If the borrower agrees to repay, the organization agrees to lend money. It is therefore natural that this mutual commitment can be evaluated before signature. The acceptance of the credit buyback file is not really influenced by the real estate status of the borrower. A prospective tenant may very well redeem his debts if his income is significant and his charges do not explode his debt ratio.
On the other hand, a candidate who owns a property may, in certain cases, be offered an unprecedented debt ratio that is higher than the 35% or 42% applied by the majority of organizations.
Everything will of course depend on the profile of the property and its value.
Credit redemption profile: a question of debt ratio
A debt ratio below 42%, or even 35%, is the sine qua non of credit redemption. The total amount of the new credit must therefore not exceed 42% of the borrower’s income (recurrent expenses deducted). For example, a person who is professionally stabilized but whose incomes are too low or too much can be denied credit redemption.
A stable professional situation
Of course, organizations attach some importance to the candidate’s professional profile. People who have a stable job and a permanent contract will have easier access to debt consolidation, since their long-term solvency will be ensured.
Fixed-term contracts are not really popular, but each situation is unique and some organizations are sometimes surprising.
Because the notion of a stable job situation is difficult to measure, it is useful to do a simulation via an online comparator. Depending on your profile, this quick tool is updated in real time and will list any potential credit redemption opportunities available to you.
What are the most eligible job profiles?
Lucky CDIs are not the only profiles to grab the attention of credit redemption organizations. Civil servants also have more opportunities to get their file accepted because the risk of job loss is considered minimal, a real guarantee of solvency for the professionals of the repurchase of credit.
For their part, the liberal professions whose income is important are often welcome, even if they are not, strictly speaking, “contracts of indefinite duration”.