The liberal professions can benefit from the regrouping of credits an operation allowing to gather several loans in a single one to lighten the charges of credits.
Principle of the repurchase of loans for the liberal professionals
The peculiarity of people working as a liberal professional is that private and professional parties are often confused, making business management and personal finances more difficult. The lesser seasonality, the unforeseen expenditure or the general economic situation can influence the situation and the activity. It is important to always maintain sufficient cash flow within a professional activity to manage the more difficult periods, resorting to credit consolidation can be interesting.
The idea behind this operation is to redeem current loans by a specialized bank, which will pay off the debts and propose a new credit agreement with a longer duration and a reduced monthly payment, often in half. The interest is to release cash by reducing its expenses, which allows to sustain the liberal activity and maintain the balance in the finances of the company, but also in the private finances.
The peculiarity of the redemption of credits for the liberal professions
The advantage of buying a loan for a professional liberal is to be able to buy both professional credits and personal loans. It is also possible to add supplier debts, late payments or any other overdraft. The bank will simply include an additional amount that will reimburse these expenses and as the total amount due will be smoothed over a longer period, the monthly payment will be adjusted accordingly.
Thus, consumer loans (auto, personal, renewable), real estate loans and other outstanding debts can be grouped into one. However, it is necessary to validate a deposit of credit repurchase file with a specialized bank and ideally move towards institutions specialized in the profiles of liberal professions. Indeed, as the professional activity is often linked to personal finances, it is necessary to be able to propose a solution adapted to each situation.
Simulate a buyback loan for liberal profession
The first step is simple, it consists of simulating a credit redemption to obtain a first feasibility notice and an estimate of repayment terms. The bank will rely on the information provided in terms of credits to be repurchased and in terms of financial situation to propose an offer of repurchase of credit that can meet the needs of the applicant, the liberal professional. The interest of the simulation is to be able to solicit in a single request several credit institutions proposing offers of credit buybacks for the borrowers having an activity of liberal profession.
If the activity needs to finance a specific project, ie an investment or a need for cash, it is possible to ask to add an additional sum which will be included in the repurchase of credit, the interest being to avoid taking out a consolidated credit after the consolidation of the loans, as well as to include everything in a single credit agreement.