Credit redemption: how to calculate your future monthly payments?


You want to redeem credit but the approach scares you a little? No problem, our credit pooling simulator allows you to have an overview of your next monthly payments and your debt ratio.

What is the credit redemption?

What is the credit redemption?

Little reminder. The repurchase of credit – also called loan consolidation, debt restructuring or refinancing – is a transaction that consolidates all its loans (real estate, consumption) and all debts (tax delays, bank overdrafts) into a single loan.

The interest is not only “practical” (only one deadline to be paid every month), it is also – and above all! – financial. With a single monthly payment, your debt level decreases mechanically. You find a new financial flexibility to invest in a new project: a real estate purchase, the acquisition of a new vehicle, the completion of work, the financing of children’s studies…

Types of credit redemption

Types of credit redemption

There are two types of credit redemption:

  • the purchase of consumer credit. The operation only includes consumer loans (personal loan, car loan, revolving credit, etc.);

  • the purchase of mortgage credit. The home loan is here taken into account in the transaction (in addition to consumer credit). This is secured by a mortgage on the property of the borrower.

Important: the repurchase of mortgage credit should not be confused with the repurchase of mortgage. This financial solution consists of redeeming your mortgage (and only your home loan) by a bank.

The credit redemption simulator, how does it work?

The credit redemption simulator, how does it work?

Before applying for a credit redemption, we recommend using our credit redemption calculator. This free tool allows you to better understand this operation by evaluating the amount of your future deadlines.

Do not panic, its use could not be simpler and faster. Entering the requested fields will only take a few minutes. You just need to indicate:

  • your monthly income;

  • if you own or rent

  • your monthly payments

  • the loans you want to consolidate;

  • the monthly payments you are currently paying;

  • the capital remaining due;

  • the amount of cash;

  • the desired duration.

The result is displayed instantly, with the cost of insurance, the reduction on the monthly payment and the total cost of credit. A graph shows you your situation before and after the operation. It’s your turn.

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