Can we borrow with current credits?

credit loans

Find out how to get a loan even when you have outstanding loans, a loan consolidation loan solution allows you to finance projects.

In France, you can go into debt up to 33% of your income, this is the natural limit to indebtedness and beyond, the risk of non-repayment is too great. It is for this reason that the banks will analyze the situation of the borrower and carry out a credit investigation. This makes it possible, among other things, to check whether the borrower is able to get into debt but whether he is also able to repay each monthly payment until the end of the contract. This is therefore applicable when the borrower wishes to take out a consumer loan or a mortgage.


Credit in progress

credit loan

If the latter already has credits in progress, the bank will take into account the different monthly payments to adjust the borrowing capacity, we will, therefore, subtract the amount of the monthly payments from the total income to check the remaining share of the accepted debt ratio. Overall, the bank will check if the borrower is able to accumulate a new monthly payment and above all to define the amount he can obtain. It is therefore not the number of credits which plays, it is rather their share on the household debt. Obviously, you have to be able to estimate the capacity to borrow and take into account the borrower’s situation. This can be done as part of an online simulation.


Borrow with a credit consolidation loan

Borrow with a credit consolidation loan

Credit consolidation is an operation that offers a borrower to redeem his current credits and add an amount dedicated to a new project, this allows, even with debt at the limit of 33% to concretize his financing project. The bank will simply buy back the outstanding loans and transfer the amounts due to a new credit agreement offering a fixed rate, longer duration, and a reduced monthly payment. In this operation, it is possible to add an amount dedicated to a new project, simply because the bank will readjust the new conditions taking into account the repayment capacity of the household as well as the debt.

In setting up, the bank will request all the information from the borrower concerning the loans in progress, that is to say, the amounts remaining to be reimbursed and the current monthly payments. This can be done as part of a simulation of credit consolidation, the borrower will be able to obtain a feasibility estimate and especially several loan repurchase proposals. He can thus check whether the financing of his new project is possible and validate the amount requested. The bank will take into account the needs of the borrower and especially offer him a repayment plan adapted to his needs and his financial capacities. It is possible to finance all types of projects, be it a car, works, a trip, or even a real estate purchase for certain borrower profiles.