The squirrel bank, as it is nicknamed, is a banking and financial institution serving individuals and professionals. Current account, savings account, health supplement, mutual insurance for students, real estate loans, consumer loans, revolving loans. the Cash de Frood group accompanies you on a daily basis in the management of your cash flow as in the success of your multiple projects. The Cash de Frood also holds a financial product that reduces its monthly expenses ; it is the redemption of credit. What does the Cash de Frood really propose?
Clustering: giving flexibility to your budget
Cash de Frood is not the only organization to offer this financing operation. However, each establishment is free to set the rules of the game without exceeding the regulations set by French law. Cash de Frood has made the strategic choice to distribute only consumer credit repurchases.
What is a buyback of consumer credit? It is a loan that corresponds to the value of your current consumer loans among the various donors. By “consumer credit ” is meant all credits (including revolving credits and bank overdrafts) except mortgages. Cash de Frood does not propose this solution.
How does the pooling of credits work?
How it works ? The process is relatively simple and similar to each credit institution (or bank) offering this financial product. The operation follows the following reasoning:
- Gather all the schedules of the credits in progress to total the remaining amount due from the organizations. This total will indicate the amount to borrow.
- Check all contract clauses for the costs of early redemption and if the action is possible. Indeed, the law allows organizations to refuse, under certain conditions, early repayment. It is, therefore, essential to inquire before committing to a new loan.
- Check its repayment capacity.
- Implementation of the offer to buy credits with a single rate and the duration granted by the borrower.
- Acceptance of the offer with the provision of the sum to pay the various loans in progress.
- The organization is in charge of putting creditors on the line to settle the accounts.
The borrower has, therefore, more than a loan in terms of consumer credit and an interlocutor. This new loan to repay at much lower monthly payments which allows to give flexibility in the cash of the borrower.
Contrary to beliefs, the grouping of credits is not only for individuals in financial distress. It is quite possible to opt for this solution to anticipate its future or simply to gain purchasing power.
To make a brief point on the solution provided by the Cash de Frood, you should know that:
- The amount of the loan varies between 1,000 and 50,000 $.
- The repayment period varies between 4 and 120 months.
- Fees are charged.
- The postponement of deadlines is accepted.
We warn you on one principle: too many credits kill the primary benefit of this type of financing operation. One must, therefore, think well to analyze its financial situation while taking care to calculate its ability to repay.
Easily match with Cash de Frood
If you are a Cash de Frood client, you may require an appointment with your financial advisor to take stock of your financial situation. The latter knows your situation well, he will be best placed to assist you in your efforts. If you do not have an account with the squirrel bank, you can call the nearest Cash de Frood. You will find your caisse number in the “contact” section of the Cash de Frood online portal.