In many cases, credit repurchase organizations emphasize an activity-specific specialization. For example, some brokerage firms claim to have a panel of many types of loan consolidation , such as the buyout of government loans , the redemption of loans for the liberal professions, and so on. Understanding credit restructuring, how does it work?
Employee credit purchase: how does it work?
When an intermediary in credit consolidation operations advertises by targeting professions, this is really just a way of attracting the consumer. Indeed, targeting a professional category triggers the feeling of belonging to this activity to all those concerned. Thus, it shows that the offer to buy back credit is adapted to the borrower profile.
However, the reality is very different! There are absolutely no special credit buy-back offers. Being a civil servant does not offer the advantage of having a specific loan consolidation contract. Public service employees are eligible for the same redemption products as employees in the private sector, and they must meet the same eligibility criteria.
This difference can be noted only for people practicing business management. Because they have less flexible criteria on the granting of the cash envelope. This difference is marked by a standard limiting the injection of cash into the company.
Credit Redemption: the benefit of being a public servant!
Like all banks or credit institutions, when preparing a loan buyback file the solvency of the borrower is a very important criterion. It is even decisive when deciding whether to grant or refuse funding. In order to obtain a favorable opinion on his request for the repurchase of credit, the applicant must imperatively submit stable and long-term income.
And the advantage of being a civil servant during a credit redemption request is that income is guaranteed throughout the amortization period of the financing. Banks are very appreciative of having this risk less to bear. This is a very positive point in terms of risk. Unlike SMEs that may have a bad financial rating.
The fact of being a civil servant makes it possible to obtain a favorable opinion on the scoring which is the first step to be crossed. This is a rating assigned to the file by the bank. This score is determined according to the information entered by computer during the transmission of the file by the broker specialized in the study of credit repurchase files.