Below you will find a calculator for credit and consumer loan restructuring, directly with Good Finance, approved credit broker IOB (Intermediary in Bank Operation). We suggest that you compare all the offers from our banking partners in order to find the solution to buy back your consumer loans that best suits your situation by freeing up cash for your projects.
Anxious to give our customers clear and detailed information, we will send you a simulation as soon as possible. Rest assured that our teams of analysts are driven by the constant concern to best meet the demands of our customers.
Why calculate your credit repurchase?
When you want to restore your budget through a loan restructuring, you may have to ask yourself questions such as: what will be the amount of the reduction in the monthly payment, what will be the duration of the repayment of the redemption, what will be the proposed interest rate? The credit restructuring calculator answers all these questions. Its function is to provide clear and precise answers to any questions you may have about this financial transaction.
Thanks to the results you get later, you can judge for yourself whether the assembly is suitable for your needs or not. Using this tool also allows you to simulate the grouping of debts by determining the amount of the monthly payment that you wish to have, the duration of the repayment compatible with your project, the amount necessary to borrow. This allows you to adapt your budget by based on results.
FYI, the repurchase of credit is an operation which comes to us from Anglo-Saxon countries. Previously, borrowers came to the premises of a financial institution to find out the cost of this banking technique. But with the rise of the internet and computers, these technical tools that facilitate the request for repurchase of credit appeared on the websites of banks and brokers. They stand out for their ease of use and their free and rapid results.
How does the credit restructuring calculator work?
The repurchase of credit is an arrangement proposed by the banks and financial establishments to reduce the amount of the monthly payment of the borrower while allowing him to have a cash, subject to eligibility to this request. In the context of the repurchase of consumer loans, the amount that the financing organizations grant does not exceed 100,000 USD repayable over 12 years. But before contracting this loan, as we said above, it is relevant to know exactly your financial situation and to study the feasibility of the project. This tool also allows you to assess your repayment capacity.
The operation of a credit restructuring calculator is simple. You enter the data requested in the calculator such as monthly income and charges, the amount of outstanding consumer loans, the rest of the principal to be repaid, etc. The results provided by the calculator are based on this data entered. Hence the usefulness of entering the correct information in order to have a clear picture of your financial situation.
You can also enter the amount of cash you want to get when using this tool without obligation. Cash is the additional liquidity which will be integrated into the buy-back and the amount of which does not generally exceed 10% to 15% of the entire transaction. The banks study the debt ratio and the borrower’s repayment capacity before deciding whether to grant this additional envelope.
The results of the credit buyout calculator vary depending on the information provided by the borrower. The amount of the monthly payment simulator depends on the duration of the repayment and the interest rate. But it should be noted that the longer the operation, the more expensive it becomes to the subscriber’s budget with interest.
The repayment period and the interest rate condition the interest of a buyback transaction. To establish the right balance between these elements and to better estimate your debt capacity, it is therefore essential to go through this free calculator. Finally, note that this tool allows you to find the most profitable offer to buy back credit.