Over-indebted or maybe you fear over-indebtedness? Know that even as a self-employed entrepreneur, you have the possibility to buy back credit. It is an effective and easy technique to alleviate a complicated financial situation. But how to do it? There is a question.
Who can claim a credit buyback?
In fact, everyone can claim a credit buyback. But above all, it is a banking service that attracts over-indebted people or those who are in the process of being so or those who have several loans at the same time and who seek to smooth their monthly payment for better ease of management.
Auto entrepreneurs are also eligible for credit redemption. Be careful, however, like borrowing in general, you have to be in the business for more than 3 years and be able to justify it to take advantage of bank offers.
In any case, banks no longer require you to be domiciled with them these days to offer you assistance. This will facilitate access to this banking service. However, be careful, the rates vary from one profile to another depending on the requests.
The necessary documents for a credit buyback for a self-employed entrepreneur
Applying for a loan repurchase is like embarking on new bank loan procedures. That is to say, you will have to take out new credit repurchase insurance and complete a specific request. At digital banks, the request in question will be available on their site.
Obviously, in addition to the request itself and the guarantees, you must justify your request for documents concerning your previous loan. You must provide him with a copy of your pledge. Namely, banks nowadays only grant loan repurchases for loans of which 60% have been settled.
In addition, Belgian banks only serve residents. Also, in addition to identity documents, RIB and tax notices, you must also have a certificate of residence as well as electricity bills. As with auto entrepreneurs, there is no payslip available, banks require an accounting report on your activity in order to estimate your solvency. Go to a trusted accountant to do this. The financial data of your activity is still sensitive.
The steps to follow for a successful repurchase of credit for a self-employed entrepreneur
Making a credit buyback is not a matter of luck. You must follow a few steps to be sure to take advantage of the right contract and thus overcome your over-indebtedness problem.
The first step includes making an estimate of your financial situation. The accounting agency in Saint-Gilles, Belgium can help you with this. So you can know your debt possibilities and the monthly payments you can afford in order to avoid being over-indebted in the future.
The accounting expert at Forest can also assist you in the loan simulation. This is an approach by which you will have to calculate the ideal loan conditions based on your profile. By the latter, you will be able to choose the right monthly payment, but also the right duration for your repurchase of credit in order to facilitate the monthly payments.
The results of your credit redemption simulation will impact your choice of banking service. The brokers or the accountant will be able to assist you in particular in the selection, but also in the negotiation of the various offers which will be proposed to you. The goal is to allow you to take advantage of the best credit redemption.
It is only after all these steps that you can sign a contract of engagement and embark on a loan repurchase.
By Tinoh Ras
who is residing in Madagascar, East Africa.
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