Incapacity of work: what to do for my credit?
The first thing to do when an inability to repay a credit occurs is to warn the lender. In fact, a person who does not receive any more income, if he is subscribed to a loan, must continue to repay it.
You can notify your organization by sending a registered letter explaining your problems and disabilities. Then make an appointment with your advisor.
If your lending organization is Credit Minnie, you can directly make an appointment with one of our advisers in Waremme.
The lender will try to find an amicable solution that will be favorable for both parties.
Depending on your overall situation, lender organizations may offer you several options: credit consolidation, loss of income insurance, temporary suspension of repayment, loan term extension.
Consolidation of credits
The credit pooling technique helps you if you have to honor multiple credits at the same time. By grouping your credits in one loan, you can not have to pay several credits. In addition, the repayment period is lengthened and therefore, the monthly payments are reduced.
Insurance against loss of income
Many lender organizations provide the applicant with insurance against loss of income. This insurance works from 6 months after the start of the refund. It provides a portion of the loan for a limited period and on a budget.
What to compensate while waiting to head out of the water!
In Minnie, the public authorities offer free insurance against loss of income. This insurance covers part of your mortgage (only) in the event of unavailability or total inability to work.
!!! NB Insurance takes place in case of involuntary loss of employment and not in case of resignation.
A temporary suspension of the refund
Some lenders may suggest that you stop paying the credit for a period of time. This period of non-repayment, however, only reverses the problem. It nevertheless allows you to regain stability before resuming your refund.
An extended repayment period
Depending on your general situation, the payment agency may offer to extend the repayment period of your credit. In this case, the monthly payments are reduced.
For each problem, there is a solution. Lending institutions such as Credit Minnie accompany you throughout the duration of your loan. Credit Minnie helps you find solutions to your problems so that you find stability.