Buy back interim credit - what does it mean

Buy back interim credit – what does it mean

Debt restructuring is not only for people who have a stable professional situation and an open-ended contract. Even if you are a temporary agency worker, you can still claim credit. Provided you bring a good level of guarantee. Explanations.

Request a loan buyout while acting

Request a loan buyout while acting

To grant a loan, or to carry out a loan buy-back operation, banks have strict criteria. It is no secret that having regular income and a stable professional situation is the assurance of a more attractive file for financial organizations.

Banks seek to limit the risk of default and incidents during the term of the loan. Presenting a safer profile therefore simplifies the process. However, it should not be believed that access to credit, and in particular to grouping, is completely impossible for people on fixed-term or temporary workers.

Because the world of work is changing, and situations are varied, banks have set up specially adapted offers. Temporary work is sometimes just a temporary way of working, before returning to a permanent job.

Interim can also be an assumed choice, to have a certain freedom, and a real flexibility. Credit agencies know this. Capital Lender helps you if you are acting.

Prepare a complete loan buy-back package

Prepare a complete loan buy-back package

If you are in a precarious employment situation, the preparation of your file is essential! It is important to give all the supporting documents requested to show your current financial situation. Your employment contract is essential, and in particular seniority.

If you haven’t had periods of inactivity in years, mention it. Do not leave gray areas, both on your personal and professional situation. Explain your choices, and what motivates you to request an interim loan buy-back.

Explain the advantages you will enjoy, and the way you see your future: how will you act with the reduction in your monthly payments, and the possibility of having savings? Reassure the interlocutors, who must understand your motivation.

Interim: the keys to getting a loan buy-back

Interim: the keys to getting a loan buy-back

When you request a consolidation of your interim loans, the process is the same as for any other request. You do not have a specific treatment. The same criteria are evaluated. Hence the interest in looking after each part of your file.

If you are the only one to apply for the operation, and you have the status of temporary agency worker, most organizations will not be able to help you to refinance you. Strong guarantees are needed for the application to be accepted. You can thus bring several pledges of security, in particular by associating your spouse with the operation:

  • The income of a co-borrower is taken into account to build your file, and in particular to assess your debt ratio. Associate your spouse with your request so that his professional situation serves as a guarantee;
  • Seniority is more important than ever for a precarious contract! If you can justify an activity in the last year, or even the last three years, then your file will be stronger. A prolonged period with acting missions is proof of seriousness;
  • Of course, having a mission at the time of the request is essential. Likewise, having a fairly peaceful financial situation (no payment incidents, no rejections) is also a precious help;

If the seniority criterion is met (temporary work without interruption for three years), and if you have a co-borrower who is associated with your request, you will be able to benefit from the same conditions as an employee on a permanent contract. Prepare your project today by calling on the experts at Capital Lender. Our team is at your disposal to help you find a refinancing solution.