Refusal to buy back credit: what to do?

A refusal does not mean that no solution is possible in the context of a credit repurchase, here is how to deal with a refusal.

There are many and varied in the context of a credit buyout, some are explained clearly while others are not always. It is therefore important to understand his refusal to repurchase credit in order to redirect his steps towards an organization which will accept him the repurchase of the loans.


Refusal to buy back credit: the reasons

Refusal to buy back credit: the reasons

The most common reasons are related to the borrower’s situation, namely too high a debt, the presence of direct debits, an insufficient living balance or a possible bank card. If the filing remains to be lived and the rejections can be quickly erased, after a regularization and a delay of at least 3 months, the debt will require him to settle at least one credit by his own means, in order to regain a more level acceptable to banks.

It should be known that each bank applies its own loan repurchase conditions and therefore a borrower can be refused by a bank, and obtain an agreement from the competing establishment. The trick is therefore to multiply the steps, especially with online comparators.


Refusal to buy back credits: the comparator

credit loan

It would be a shame to stay on a wrong step, especially since the credit buy-back is constantly evolving and the banks are constantly adjusting their criteria, which can result in acceptance of the file the following month, knowing that the month before a refusal had been pronounced. You should know that the human plays a lot in a loan repurchase case and that each refusal is pronounced by an adviser, if the latter has not studied the situation as a whole or has forgotten any information in his assessment, this can be interpreted as a refusal when another adviser has given his agreement.

The comparator allows to have the opinion of several bank advisers and therefore to be objective on the status of a credit repurchase file, if some come forward with a firm refusal, others will be able to find solutions. You should know that the comparator solicits diversified establishments, namely brokers, banks and credit institutions, which means that there is a greater chance of obtaining a financing agreement.


Credit buyout refused: alternative options

Can we negotiate the broker

If no solution is possible when requesting a loan buy-back, other solutions must be considered, such as the grouping of consumer loans only for owners with a current mortgage, this allows the grouping of consumer loans without touch the mortgage. The loan between individuals can also be an alternative, the principle is to apply to a third party in order to obtain a loan of money and then reimburse the creditors, it is however necessary to take these precautions because many scams are identified every day and the money should be used to repay outstanding credits.

Finally, when no more solution is possible in the banking context, it is necessary to turn to credit mediation and then to the over-indebtedness file. These are the only two solutions in the long term to restore a financial situation and find an arrangement with the creditors.

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