What is "rachat credit" and "credit consommation" (french)?

Question

French speakers only, state source.

1/ What is "rachat credit"?
2/ What is "credit consommation"?
3/ What is the equivalent term for "debt consolidation" - is it credit consommation or what?

Discuss

Answer 1

rachat de crédit . it mean's for a family that has too much money to pay every month that a company buys each contract to each bank or credit organism. exemple you ow every month 50euro to bank A , 40 euro to bank B etc...the sum is 250 / month for 2 years. but you earn only 1000 euros /month . the new bank close all credits "rachat " means "r" again "achat" and achat from the verb acheter . and sign a new contract with the family 100 euro/month during 4years 1/2 .
2) crédit à la consommation . opposed to house or car credit where bank might have a guarantee (based on the value of house or car) , credit à la consommation is a credit is made for every day life .the only guarantee the bank has is ability of a person to win money (work,pension,flat rent income)
3)i'm not sure but may be "debt consolidation" seems to be "rachat de crédit" .

Answer 2

Hope this helps.

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