Credit redemption without account statement: explanation and solution

Can we get a buy back of his credits without providing statements of account and how is the implementation of the financing? We will explain everything to you.

Account statements for credit redemption

Account statements for credit redemption

The redemption of credits is a banking operation allowing to take back several loans at the same time to readjust the terms of repayment. The implementation of this financing involves filing an application with a bank or a specialized credit institution. This request will allow firstly to assess the feasibility of the project by checking certain essential elements such as the debt ratio, the ability to repay and finally the rest to live.

In order to study the credit repurchase case, the banks systematically request a list of supporting documents enabling the information supplied by the borrower to be verified during the online application. To check the rest to live and the debt ratio, the last three statements of account are essential. These documents are therefore mandatory in a credit consolidation transaction because the bank needs to justify the amounts and verify the information before granting the release of the funds. Simply, it is possible to obtain a loan redemption simulation without providing account statements.

Account statements not essential for simulation

Account statements not essential for simulation

The simulation for the repurchase of credit is a preliminary stage to the request for financing, that is to say that there are many borrowers who wish to obtain the regrouping of their credits and the lightening of their monthly payments. Simply, to avoid clogging the banking services study, the various financial organizations offer online simulators. These tools are actually forms that allow the applicant to specify information about him and therefore send him a first feasibility notice.

At this stage, the declaration of the applicant is authentic, so it is not necessary to provide any document since the information provided will be compiled in the simulator to return a notice of feasibility. It is thus possible to quickly obtain a credit redemption notice without having to send account statements or other supporting documents. After positive feedback and on the will of the borrower to continue the operation, it will then have to provide the documents to validate the instruction of the file which lead to the release of the funds.

For credit redemption credentials are required?

For credit redemption credentials are required?

All banks and credit institutions are required to verify the identity of the borrower but also his creditworthiness. In France, it is not allowed to grant credit beyond 33% of indebtedness, banks are required to ensure that the borrower is aware of his commitment and that the latter has informed him clearly loan conditions. It is essential to propose a more stable financial situation, especially when it comes to grouping several loans to reduce monthly payments. The interest is not to renew the borrower in an unstable and unbalanced financial situation. Finally, the banking organizations have obligations and the receipts of the customers are part of them.

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