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How to build a good loan buyback file.

What are the supporting documents that you can be asked for when requesting a loan buy-back, and to what extent can your broker be ” indiscreet “? an elucidation on http://www.egebilsis.com/instant-approval-loans-bad-credit/

Requesting a loan buy-back, especially in these uncertain times, this requires good preparation in order to inspire confidence, a fortiori if the reason which motivates your request to buy back credit is linked to your difficulties in repaying your current loans. It is therefore normal that lenders seek to protect themselves against any default by their borrowers and that they therefore demand an ever-increasing number of guarantees.

Your broker becomes the lawyer for your credit repurchase

Your broker becomes the lawyer for your credit repurchase

For his part, your broker will have to defend your file with banking establishments, he is your spokesperson, your ” lawyer “, he must therefore know as much as possible about you in order to obtain the best possible conditions with regard to your situation.

Mandatory supporting documents for your credit buy-back

Mandatory supporting documents for your credit buy-back

He may therefore require that you provide him with a certain number of supporting documents such as:

– your national identity card (and that of all other possible co-borrowers),
– proof of address of less than three months (electricity bill for example),
– notification of housing tax and property tax if applicable,
– your proof of income (last salary slip or last tax notice for example).

Finally, and it is logical, you will be asked to provide a summary of your current credits as well as their amortization tables. Suffice to say that a good follow-up of these deadlines will constitute a significant asset in the follow-up which will be given to your request, and a borrower who has already shown himself to be in default does not inspire very great confidence in future lenders.

Optional supporting documents for your credit buy-back

Optional supporting documents for your credit buy-back

But it can also go further in order to reassure lending organizations on the stability of your situation and especially on your long-term solvency. You may then need to provide:

– your employment contract (to ensure the sustainability of your employment),
– supporting documents for your other resources (company shares, movable or immovable income, etc.),
– proof of family allowance,
– a bank account number,
– proof of home insurance,
– your family book,
– a copy of any divorce and / or separation of property judgments,
– an estimate of your real estate established before a notary,
– etc.

The list is not exhaustive and may be extended depending on your profile, which will be more or less positively assessed depending on the quality of your loan buy-back, your reliability as a borrower and the strength of the guarantees that you propose.

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