Being in a situation of over-indebtedness is unfortunately no longer a rare situation these days. Indeed in France, more and more households find themselves over-indebted following a job loss, or a death, or a divorce, …
However, there are solutions to overcome the over-indebtedness, the recourse to the Commission of over-indebtedness being considered as a last resort.
Click here to find more about credit card debt settlement
Credit card debt settlement via Push button for credit card help is the simplest solution to an over-indebtedness situation. On the condition that you are not yet in a serious situation, this option is ideal to lighten your ends of the month. Indeed, all your debts will be grouped into one, and you will only have to assume a single monthly payment.
Although your new credit will cost you more time, you will be able to manage your budget more calmly. The trick to benefit from an advantageous credit buy-back operation will be to make competition between “redeeming” credit institutions.
The option of the repurchase sale
Although still little used by the over-indebted households, the repurchase sale is a good option not to neglect. However, it may only be possible for private owners of one or more immovable property whose total debts do not exceed 60% of the total value of the immovable property that may be offered for sale.
The interest in this system will be that you can both pay your debts, but you will also have the opportunity to recover your property within a maximum of 5 years. Indeed, once all your debts settled, you will be able to contract a mortgage to buy back your property.
Recourse to a CCAS
To get out of over-indebtedness, you can also ask assistance to help associations set up for this purpose. The Municipal Center for Social Action (CCAS) present in each city will set up a strategy to try to get you out of this painful situation. Social assistance will find the best solution to rebalance your budget, but also to establish an amicable agreement with your creditors to reschedule your debts.
The Debt Commission
To file a file with the Commission of over-indebtedness will be done only if all the other solutions do not prove effective in a durable way, but also without waiting for the financial situation to get worse. The website stop-la-dette.com explains how to prepare your debt overhang.
So when your file is accepted by the Commission, it will decide on an amicable plan of recovery or failing that, a solution that it will impose. And in the event that your situation is “irretrievably compromised”, a personal recovery procedure with or without liquidation will be considered.