December 2018

The bank credit union is a bank that specializes in the processing of renegotiation and debt restructuring files. Payday loan debt assistance is tough but achievable. Because of its knowledge of the market, it has a very different approach compared to conventional deposit bank..

The bank specializing in credit pooling

As mentioned in the introduction, the bank specialized in loan consolidation is quite different from a deposit bank. This is perfectly normal because it is positioned in a market where risk management is higher. For example, a conventional bank believes that the debt ratio of an individual or a household must not exceed 33% of the household income, this to ensure controlled budget management.

For a bank deposit, past the thirty-three percent debt threshold it becomes risky, while a credit pool bank can go up to 50% household debt ratio provided to respect the different ratios receivability to validate borrower eligibility for the restructuring product. It should be noted that a loan consolidation file with a debt ratio after surrender close to 50%, must present a greater amount of living for each person. The rest to live is the sum that remains to live by an individual after payment of the new monthly credit.

A bank of credit repurchase is a bank of financing, thus unlike the banks of deposits, it does not propose to its customers the opening of a banking domiciliation with the payment of the monthly salary. His role is to refinance, not manage money deposits.

Banks credit group: who are they?

The credit consolidation banks are partners with the intermediaries in banking operations and payment services (IOBSP), also known as a broker, they distribute their bank loan redemption products to individuals and professionals. Their teams of credit analysts study on time, credit redemption files transmitted by the brokerage companies of their network.

Each institution is more or less a subsidiary of a large group. For example, the bank CF CAL (Crédit Foncier communal of Alsace and Lorraine) is a subsidiary of the Crédit Mutuel Arkéa group. The credit consolidation bank CGI Finance is part of the Societe Generale group. Or Créditlift Courtage, a credit redemption bank of the Crédit Agricole Consumer Finance brand, etc.

It is important to know that deposit banks know how to collect credits on small amounts to finance with short periods of amortization. Moreover, this type of internal loan is not considered as a financial restructuring operation in the eyes of the banks specializing in the redemption of credits.

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