Find the best personal credit agency
It is not always easy when you want to take out consumer credit and more particularly personal credit to find the financial organization most suited to your project. Among the multitudes of banks offering personal loans, we help you see more clearly and choose the bank that will allow you to achieve your dream, without breaking the bank.
It is well known, life is made of projects. But most of the time, it is difficult to achieve them all and essential to make choices according to your priorities. Depending on your financial situation, the credits that financial organizations will offer you will be different: if you are an employee, without any other credit in progress, the bank will offer you a different solution than if you are unemployed and already over-indebted. But whatever your situation, know that it is always possible to use a personal loan, which falls into the category of consumer loans. In the event of indebtedness, this possibility will, however, very probably not be offered to you and you will then have to resort to a prohibited bank credit also called credit for ficp .
Consumer credit: quesako?
Consumer credit (or consumer loan) is credit granted by credit establishments or specialized institutions to individuals. Consumer credit is only intended for individuals and therefore does not concern businesses, who benefit from other financing solutions. For example, it is impossible to finance the purchase of a company vehicle for a company with a consumer credit.
The main utility of consumer credit is that it makes it possible to finance consumer goods and services: the borrower can thus finance with his loan the purchase of a new vehicle, as well as new furniture, unforeseen holidays, work in their home or even household appliances. In United States, it is considered that a third of the consumer loans subscribed are used to finance the purchase of a vehicle, that another third allows the purchase of new furniture, television, household appliances and finally that the remaining third is used current expenses, particularly food.
How does consumer credit work?
The amount of consumer credit must be between US $ 200 and US $ 75,000. Obviously, these amounts are much lower than those relating to mortgage loans. To qualify as a consumer credit, the credit must have a minimum duration of 3 months. In general, the repayment period of a consumer loan is much less than that of the repayment of a mortgage. For a simple reason: the amounts to be reimbursed are lower. In most cases, a consumer loan is repaid on a schedule with periodic monthly payments.
As a general rule, consumer loans are issued by specialized financing institutions or by generalist credit institutions. Note that car manufacturers can also offer consumer credit offers for the financing of vehicles purchased. Likewise, large distribution groups, through their subsidiaries, can also distribute consumer loans.
The different forms of consumer credit
Commonly, it is considered that there are two main types of consumer credit: restricted credit and unaffected credit. For the affected credit, this is a credit that is granted and used for the acquisition of a specific good or service: a car, work, vacations, etc. The rates charged are between 4, 5% and 9%. With regard to unallocated credit, the good or service that the purchaser intends to afford is not specified in the contract. So, the borrower can use the money however they want. Most of the time, unallocated credit is used to finance small purchases or to meet a need for liquidity.
As part of the fight against over-indebtedness, people who take out loans that fall into the category of consumer loans (i.e. loans of less than US $ 75,000 and of three months or more) benefit from enhanced protection since the 2010 reform.
Among the many personal credit organizations, the best known are physical banks, including Banque Postale, Crédit Agricole, Caisses d'Épargne, BNP, Crédit Mutuel, Société Générale, LCL, Banque Populaire, CIC, Crédit du Nord, Barclays and HSBC. Online banks also offer this service and are more and more numerous: Monabanq, Boursorama or BforBank. Finally, some establishments offer various types of consumer loan (personal loan, car loan, revolving credit, etc.): Cofinoga, Cetelem, Sofinco, Cofidis, Franfinance, Younited Credit or Oney. To benefit from the best conditions and choose the personal credit institution best suited to your needs, we advise you to take the time to compare these numerous establishments. This will ensure that you find the best personal credit agency for you and the one that best meets your needs.