A mother must often juggle between professional and personal life, she must bear only recurrent charges and repayment of credits, a financial balance not always easy to preserve.
Single mother, credits and budget
According to INSEE figures published in 2014, there are around 2 million mothers raising their child (s) alone (about 3 million children), a daily not always easy for some of them. A mother who finds herself single as a result of a separation must often endure sometimes heavy expenses, which were previously supported by two salaries. This transition is not financially obvious and sometimes involves revising certain downward charges such as credits. Whether for a home loan or a consumer loan, it is possible to redeem them as part of a pool of credits, an operation that allows to find a lower monthly payment through a rescheduling of the repayment period .
Credit buyback for single mothers
Consolidation of credits offers the possibility of reducing the amount of monthly payments, which helps to rebalance the finances and to prevent any situation of over-indebtedness, in particular following a change of situation. The repurchase of loans makes it possible to readjust its deadlines according to its current capacities of repayment, and not the capacities at the time of the conclusion of the various contracts of credits. It is good to know that a single mother can lighten her ends of the month with the repurchase of loans and even add an amount that will be assigned to a new project such as the completion of work, the purchase of a vehicle or the House equipment.
Single mother: how to buy loans
In order to obtain the financing of a loan consolidation, it is first necessary to justify a stable professional situation (permanent contract) and regular income. For some professions such as liberals or artisans, the balance sheets will be needed for the study. It is possible to collect different types of loans together (real estate, consumption, auto, renewable, work, etc) and even include overdrafts or tax delays. For single mothers who own their homes, a mortgage guarantee may be in place, depending on the nature of the financing and the credits involved. A simulation of the repurchase of loans makes it possible to obtain quickly and free an estimate of the new monthly payment, credit provider advisors are also at the disposal of the borrowers to give more details on the banking operation.