Martinique is a French community that enjoys an idyllic lifestyle: large white sand beaches, translucent water, gigantic palm trees, fauna and flora extraordinary … In metropolis, we know too little this beautiful island. If you have the opportunity to spend a few days in explorer mode in Martinique, you will quickly realize that life is much more expensive than in Metropolitan France . According to the report issued by EIDOM, one in three households in Martinique is in debt. How to get out of debt when living in Martinique?
The grouping of credits: to consume with moderation?
Expensive life, high unemployment rate, limited studies … the socio-economic situation of Martinique is delicate. The media talk a lot about the unemployment rate in mainland France, but you have to know that the French islands reach records. In 2014 in Martinique, for example, the unemployment rate is around 21%. This difficulty in finding a stable job has a negative impact on the lives of residents and the economy:
- Restriction of the food and clothing budget ,
- Difficulty obtaining a loan to finance a project,
- Considerable drop in purchasing power ,
- Impossibility of paying bills
According to EIDOM, one in three households faces financial difficulties. Although Martinicans are not heavy consumers of credit , the grouping of credit can be an alternative to regain purchasing power while reducing its debt ratio.
How does the pooling of credits work?
The grouping of credits works on the same principle as the different credits found on the market. Namely, a financial partner makes available to a solvent taxpayer a sum of money that will be subject to an interest rate. In this case, the funds make it possible to finance loans from the various creditors. It is the responsibility of the financial partner to approach the credit agencies to settle the accounts. After the closure of the scattered credits, the borrower has only one credit to repay with a new monthly payment .
What is the primary benefit of merging credits? This is certainly the question that comes to mind after reading this post. The goal: to lower the value of the monthly repayment in order to increase the rest to live . By definition, the remainder to live is the remaining financial share to a household after honoring the payment of its financial debts and its various expenses.
Conditions for obtaining credit redemption in Martinique
The monthly reduction is automatic since the borrowing rate is fixed and unique. Duration also plays a role in this decrease (in some cases, it is possible to reduce its monthly payments by 60%).
French laws regulate consumers. Therefore, financial partners have every interest in following the recommendations set by law. For example, it should be noted that no redemption of credits can be granted if the repayment capacity of a borrower is mediocre.
Concentrating your borrowings in one loan is a good idea if you compare the different offers in the market before you start. Indeed, this concept has the effect of helping you not to sink into the over-indebtedness and not the opposite effect. Simulate, compare, inquire are the three slogans for an exclusive winning loan.