The different ways to buy back your credit



There are several ways to redeem your credit(s). To make the right choice, you must first make an inventory of all of your debts which will be the subject of a buy-back. If the option of a renegotiation is interesting especially for a mortgage, the repurchase of consumer loans and revolving loans is a good opportunity to reduce the monthly repayment.

Credits opened for redemption

Before looking for the most appropriate way to redeem your credits, you will need to make a summary of all of your outstanding credits and debts and make a simulation of credit repurchase. It all depends on the type of credit, but the easiest way is to know them well.

a. Consumer credits

b. Home loans

c. Revolving credits

d. Other debts

How to redeem credit?

How to redeem credit?

As with a conventional loan, there are several ways to redeem your loans. It will all depend on the amount you need to redeem, the type of credit, and the time you want to spend looking for it.

a) Online credit repurchase

Redeeming credit through an internet platform is both faster and more need. Indeed, by directly indicating all the necessary information, these are transmitted quickly to the body responsible for the buy-back, and the latter can send you a quick response. In addition, an online loan repurchase request is more suited to your needs insofar as you have control over your request. If your request does not include a mortgage, the online organization will offer you a personal loan. This one will offer you thanks to this repurchase of credit, the possibility of paying each month a single monthly payment. By saving your budget, you can also ask that an additional amount of money be added to your buyout to finance a new personal project.

b) With a broker

There are many brokers who practice their trade in connection with the repurchase of credit. Their daily mission is to analyze your file, present it to several organizations and help you make the right choice. Choosing a broker can be interesting since you do not have a lot of time to spend looking for a credit repurchase organization. Indeed, the broker takes care of all the procedures relating to the repurchase of your credits, whether with credit institutions, banks or companies to which you owe money. But any service at a price, and choosing to ask a broker to take care of his credit repurchase also means agreeing to pay for his services, which can be expensive.

c) Renegotiation with the bank

It is also possible to renegotiate directly with the bank establishment with which you have taken out your credit. However, be careful about the renegotiation conditions which may be worse due to the payment of fees relating to the new contract. Be aware that these fees must legally be included in the new renegotiated credit. So you don’t have to advance any money when signing the new loan. The renegotiation of a mortgage can be very interesting because of the fall in the rates of this type of credit in recent years. Professionals in the sector agree that renegotiating a credit beyond 7 years is no longer attractive, and that it will be financially more profitable to go through a loan repurchase. Also be careful about the additional conditions, for example some bankers may require you to open a new account, such as a home savings plan.

d) New credit, with new project

Acquiring a loan can also be an opportunity to find the financing necessary for a new project. Indeed, depending on the amount borrowed and the duration, it may be more interesting for you to combine your old credits and your new request to ultimately save your money. A repurchase of credit is also an opportunity to finance a new expensive project. Whether for a car loan, for cash, for a trip or for work in your apartment, you will benefit from a single credit and a single monthly installment to repay. This makes it easier for you to manage your finances and your monthly budget.

e) Make a comparison

The easiest way to make the right choice to redeem your credits is to make a comparison between the different offers available. Each repurchase of credit is unique since it is your project and your request which will direct you towards a way of redeeming your credit rather than another. To properly compare the different ways, look at the main elements of the new offer: the interest rate, the term of the new loan, the amount of the monthly payments. But also be attentive to the additional elements, and in particular to the clauses which accompany your new credit. When it comes to negotiation, be it with your current creditor, a broker, or a new credit agency, consider looking at the cost of the transaction as well. A broker will be able to take most of the steps for him, but you will have to pay him a commission for his services.



Undertaking a buy-back of your credits is undoubtedly the best way to lighten your budget every month by reducing the amount of monthly payments. By freeing up your monthly budget, you can regain your purchasing power, and for example finance a new project that is close to your heart. There are several ways to do this, some are simpler, such as going through a broker, but they are also much more expensive. The solution of buying back credit through an online application therefore remains the simplest and most economical.

If you want more information about the repurchase of credit you can consult our file on the various ways to obtain a repurchase of consumer credit. You can also read our advice to make sure your credit buy-back is profitable.