Credit Repurchase Solutions to lower your monthly payments 22 Apr 2020 1:02 AM (5 years ago)
Households take out loans for the purchase of consumer goods or real estate. There are also those who accumulate inheritances and then pay out sums of money to other heirs in order to settle the division. As the monthly payments are made, some households face difficult month ends. One way of easing monthly payments is to buy back credit. Details.
Buying back consumer credit
Furnishing the house and making it a good place to live means buying useful furniture, objects and accessories. With this in mind, many households are attracted to goods and equipment in shops and boutiques that offer payment solutions on credit. These consumer goods are to be paid for on credit over a certain period of time. The household can take full advantage of them but undertakes to pay the defined monthly instalments without fail. However, consumer credit can be stifling. The family finds it difficult to put its finances in order and faces problems at the end of the month. The cash flow appears insufficient to the point that the need for cash to put the finances and the budget in order is felt. Faced with this situation, it makes sense to buy back consumer credit. With this formula, the household sees the deadlines for debt repayment extended and the amount of monthly payments reduced.
Buying back the balance of the loan
Some people have the opportunity to become a land or homeowner through inheritance. He or she may not be the sole beneficiary of the inheritance in question. With the agreement of the other heirs, he then receives the entire inheritance, but in return, he will have to pay a certain amount to the others in order to balance the division. The financial balancing act can take the form of a monthly payment of a certain amount. Faced with unexpected expenses, the individual living in such a situation may have problems with financial insecurity at the end of each month. Quickly, the need for cash is felt. Asking for the indulgence of the heirs may work but for only one or two installments. Afterwards, one must avoid sowing doubt as to one’s solvency. The solution is to resort to a cash payment. This always involves reducing the amount of the monthly payments by extending the repayment period.
Hiring the services of a buy-back broker
For all credit consolidation and debt relief projects, it is advisable to hire the services of a credit repurchase broker. This professional will study the case of the individual in financial difficulty. To do this, he or she asks about all of his or her expenses, the amount of monthly loan repayments, the duration of the repayment, the cash flow, etc. Using all of these data, the credit repurchase broker calculates the debt ratio before putting together a file for a loan repurchase request. He then negotiates with the financial institutions offering credit consolidation solutions in order to give the individual or household aspiring to a financial restructuring and a reduction in monthly payments the maximum possible chance.
The strategy to adopt to boost your savings with crowdlending 22 Apr 2020 1:00 AM (5 years ago)
Today, it is possible to find or carry out financing via crowdlending platforms. Have you set aside a more or less important sum? Do not hesitate to give credits to SMEs and VSEs to make your money grow. But what is crowdlending?
Crowdlending: what is it exactly?
Crowdlending” is also known as an equity loan. It is an offer that has become very common in France to finance entrepreneurs, VSEs and SMEs. The principle is simple: private individuals lend money to company managers to set up a project or to provide cash flow. In this way, they become creditors. The advantage? The annual return is more interesting than life insurance and retirement savings, as it can be up to 10% net. In this way, crowdlending is one of the best investments to boost your savings.
Lenders and beneficiaries meet on crowdlending platforms on the web. And the payment is made monthly, just like in banking institutions, with interest.
Note: Today, it is possible to lend between 20 euros and 2,000 euros. Even though crowdlending can bring you big gains, don’t forget that it is also an investment with risk.
What are the right strategies to boost your savings?
The reliability of the platforms is very important. To avoid scams, give preference to those that are registered with the Orias (Single Register of Insurance, Banking and Finance Intermediaries). Similarly, all companies must obtain the status of intermediary in participatory financing (IFP). Once you log on to the site, you will have access to a whole range of offers. It’s up to you to choose the one that suits you best. Nevertheless, study each file in depth in order to limit the risks:
the date of creation of the company: experience plays a major role. Therefore, lend your money to a firm that has been in existence for more than 4 years.
the number of employees: to determine if the box is serious or not
management competence
the type of activity: is it profitable at present?
the number of partners: sole proprietorships are more risky because the reigns of the company are in the hands of one person
Finally, don’t forget to take a look at the rating given by the site to judge the reliability of the company.
Note: It would be better to invest small amounts of money to get started. If you have large savings, diversify your investment. Don’t put everything in one basket! In addition, also prefer long-term loans, as the return will be higher. Finally, opt for the company that offers the highest repayment rate.
Good to know!
For crowdlending, all the steps are free of charge. Only the management fees are payable, and are borne by the candidate companies.
You should also be aware that there is a risk of not recovering the interest, and even the capital in the event of bankruptcy of the borrower for example. Therefore, always remain vigilant.
Opting for a CGP: what are the advantages? 22 Apr 2020 12:59 AM (5 years ago)
A CGP can provide you with tailor-made solutions that are finer than those of a traditional bank. But what is its role? And what are its advantages?
A CGP rather than a traditional bank, what are the advantages?
Are you hesitating between using a traditional bank and a wealth management firm? We are going to give you some good reasons to choose the CGP. But what is it? What are its missions? Discover below all the information you need to know on the subject.
Why choose a wealth management firm
An independent wealth management advisor is able to provide a wide range of solutions thanks to its partnerships with many professionals in the industry. Thus, whatever your problem, he or she can advise you on a more appropriate formula since the services are personalised. In addition, he or she will also carry out a non-binding audit of your assets. At the very least, you will have the opinion of an expert before doing anything. What’s more, the wealth management firm can help you develop your assets while minimising costs.
And to find a wealth management adviser, you can contact www.althos-patrimoine.com directly, the best in advice and innovation at the service of your assets: tailor-made support, unique investment opportunities, total independence and complete transparency.
What exactly is a CGP?
A CGP or wealth management consultant is an investment advisor. His or her main mission is to offer clients a savings or investment solution that meets their expectations and is adapted to their objectives and investor profiles, and to optimise the taxation of investments. To do this, he will analyse the balance sheet of the client’s assets. He normally holds a Master’s degree from business schools.
He generally works independently or within a wealth management firm and offers his clients a whole range of products belonging to several financial institutions. His asset? His offers can be personalised and are more specific. In this way, he is able to provide consumers with more complex products that are not always accessible to the general public.
What is the difference between a bank and a wealth management firm?
The bank offers consumers products that are necessary in the daily life of individuals and professionals: current accounts, savings accounts, means of payment, credit, etc. While a wealth management firm does not offer basic banking products. No! its products are focused on investments. Thus, the choice of a CGP may be more advantageous compared to a bank if you wish to diversify your assets and benefit from the help of an expert to better manage your wealth. But when to use a CGP? When you have a somewhat complicated situation, if you are looking for a solution that is not accessible to everyone and if you have no knowledge of financial products and markets.
Note: In the past, CGPs were only interested in large fortunes. But now they can provide key solutions for people with limited wealth.
What to do with a bad investment? 22 Apr 2020 12:58 AM (5 years ago)
Have you invested in an investment that doesn’t pay off? It can happen to anyone. But what can you do about it? What would be the best solution? And what are the mistakes to avoid with new investments?
What exactly is a bad investment?
A bad investment is an investment with a very low return or one that weakens over time: falling rates, rental prices too low, etc. But it can also be defined as an investment that does not respect the investor’s profile, is no longer in line with his or her objectives or does not please the owner. So what is the solution? Take stock of your portfolio and sell or transfer bad investments.
What to do with a bad investment?
The fairest solution is, of course, to get rid of the bad investment(s). But that’s easier said than done. It is therefore preferable to sell the shares. However, industry professionals follow trends closely and can buy your investment from you at a morbid cost. So this alternative should only be considered if you’re really at the end of your rope. However, before selling your investment, you should consider the following:
the discount: what is the real loss in value?
and the tax interest: won’t they be able to compensate for the losses?
Note: There is also another option: transferring bad investments (retirement savings, securities…).
Nevertheless, some of them are not transferable like life insurance. Whether you want to save for a specific goal, build up a supplementary annuity or simply make your capital grow: your life insurance investment simulation will help you see things more clearly. To simulate your life insurance investment in 5 minutes, simply visit Althos Patrimoine – Wealth Manager.
What precautions should you take in the future?
In order to avoid bad investments, you should be informed about trends, fluctuations in the financial market, etc. Don’t hesitate to seek professional advice before investing, because an investment is always risky! The assistance of a wealth management advisor can be of great use to you when investing in real estate. In addition, also consider your investor profile, your investment horizon and your objectives before making an investment. Similarly, be vigilant about investments that promise excessive returns. It can be a scam!
Note: Your company can set up a company savings plan (PEE), a group retirement savings plan (Perco) or a retirement contract. If you feel the returns are low, you can refuse to participate.
How can you best prepare for retirement? 22 Apr 2020 12:57 AM (5 years ago)
Do you want to maintain your current standard of living after you retire? Anticipate your retirement at the age of 40. But how? What are the best solutions for setting aside enough money to prepare for retirement? Here are some possible options…
Good to know!
To prepare for your retirement, you have other choices: the Perco (collective retirement savings plan), the Pere (company retirement savings plan) for employees, or the Prefon for civil servants. If you have knowledge of the financial markets, don’t hesitate to invest in stock market transactions, as the net annual return can be very attractive. In addition, some companies also offer a PEE or company savings plan. You can contribute to it in a variety of ways .
Finally, to boost your income, call on a wealth management advisor, for example :althos-patrimoine.com/. The advisor will be able to advise you on the best investment to make to make your wealth grow.
Invest in sustainable assets!
Why not think about buying a home that will be your main residence? It’s a good way to reduce rental charges. In this way, your purchasing power will increase. There are also other solutions: rental investment. This involves acquiring real estate intended for rental use:
a furnished rental: you can rent premises already equipped with furniture. This is a very profitable solution both functionally and fiscally.
an unfurnished rental: it is a building that is rented as it is, without furniture
and bare ownership rental: the property is subject to a temporary usufruct. This means that the usufructuary receives the benefits for the duration of the dismemberment and bears all the charges. At the end of the contract, the property belongs to you!
Note: After you have paid all your debts, the rent will supplement your retirement pension. In any case, give preference to the old one because it is cheaper.
Diversify your assets
Indeed, it is essential to diversify your assets while you have the means by trying to find additional income to boost your savings. There are several alternatives:
life insurance: savings can be withdrawn at any time under certain conditions. It is a long-term investment that can generate large sums of money.
the perp: the tax deduction can be interesting on taxable income. The principle is simple. The holder pays a sum on a contract held by an insurer according to his possibilities. The latter will then be paid on supports to become at the end an annuity at the time of retirement.
and the Madelin: this alternative is reserved for independents and liberal professionals. The money invested cannot be recovered before retirement. And the sums paid out on the contract are tax-free.
Investment and savings: managing your assets after retirement! 22 Apr 2020 12:56 AM (5 years ago)
Are you going to retire very soon? From now on, think about making your assets grow so that you don’t run out of money quickly. But how do you manage your assets properly? Our first piece of advice is to avoid investing your money in risky investments.
Investing in well-secured investments
After you stop working, you should change your retirement savings strategy. If this is not already the case, it is time to buy your own property and put it up for rent, in order to supplement your retirement pension, which will not be sufficient to maintain your current standard of living. However, if you are already 70 years of age or older, it will be more difficult to borrow. The solution? Draw from your savings (life insurance, Perp, Perco, PEA…) to finance your project.
There is also life insurance, Madelin or Perp. Even if the rates are not very interesting these last years, they remain secure investments. The capital is guaranteed and the interest is credited to your account as planned. Moreover, the subscriber can withdraw his money at any time, if necessary. Nevertheless, to benefit from a more advantageous tax treatment, you would have to wait 8 years before redeeming.
Diversify your media
Even after retirement, it is still essential to diversify your wealth to balance it. To do this, avoid investing everything you’ve set aside in one place. Instead, take out several life insurance policies. This will allow you to reduce the risks. However, this doesn’t mean spreading your assets too thin. It’s a waste of money.
Note: To avoid speculation, investing in stock market transactions is strongly discouraged. While it can make you big money, the risks are very high. Even experts in the field can’t keep up with market fluctuations.
Good to know!
If you have minor problems managing your assets, or if you have a larger estate, call in wealth engineers. With their in-depth knowledge of the market, they can help you find the best capitalization contracts to make your money grow, based on your objectives and profile. At the same time, they will be able to give you good advice to better manage your wealth!
You can also move on to donating some of your assets to your children.
Criteria for choosing an online bank 22 Apr 2020 12:54 AM (5 years ago)
There are a number of elements that need to be checked to determine which bank offers the most attractive package:
Account management: account maintenance fees, fees for inactive accounts, issuing cheques, stop payment charges on cheques, and insurance against loss and theft of means of payment. These different fees can generate more or less important costs depending on the bank.
The bank card: there are three types of bank card: the paying bank card with no income conditions, the top-of-the-range bank card with income conditions and the middle-of-the-range bank card with income conditions. Warning! Cards are generally provided free of charge, but the fees associated with their use are often taxed: withdrawal or employment fees abroad, stop payment fees, etc.
Incident fees and additional charges: these include authorised bank overdraft rates, transfer rejections, direct debit rejections, etc.
Services offered: you must choose an online bank according to your profile. Until now, many virtual banking institutions do not yet offer credits and loans, so before opening an account, you should find out the following
Customer service: choose a bank that provides customer support at least during office hours and that offers a variety of means of contact: chat, e-mail, telephone, etc. Please note! Some banks surcharge calls !!! So be careful!
New technologies at the service of customers!
Apart from the above parameters, other elements can also tip the balance, notably the technological innovations used by online banking. Indeed, due to the absence of physical contact, companies must facilitate account management using technological tools. Examples include mobile applications, alerts, free transfers on mobile phones, geolocation of ATMs, etc. These are real advantages for customers.
Online promotional offers
The offers of online banks are often more attractive because the operating costs are lower. As a result, it is not uncommon to find promotions on many sites to attract consumers. So before choosing a bank, it is a good idea to do a little research on the web to find the most attractive offer. Moreover, these promotions are limited in time, so you should register at the right time.
Note: To simplify your task, don’t hesitate to use an online bank comparator. It is a very effective tool to help you find a bank that meets your expectations and offers the best deal.
How to get a free bank card online? 22 Apr 2020 12:53 AM (5 years ago)
The offers of online banks are currently very attractive. In fact, most of them offer bank cards for free after opening an online account. However, the conditions may vary from one institution to another. But which ones? And what type of bank card to choose?
How to get a bank card online: what are the conditions?
To benefit from a free online bank card, all you need to do is open an online account. However, there are conditions of use. The most common are :
a minimum level of monthly income or a required monthly payment
and/or a minimum savings amount
Example: The Boursorama bank card requires a minimum level of monthly income or savings.
In addition, the classic card can be obtained free of charge. For some sites, for the top of the range, an additional fee would be required.
What are the different types of bank card?
The Visa card with immediate debit is the most popular type of card in France. It is free of charge, with no condition of income, no condition of payment and no condition of savings. It is very simple to use and transactions are recorded within one to two days after the transaction. The disadvantage? There is a daily or weekly withdrawal and payment limit.
For the deferred debit card, withdrawals and transfers made during the month are grouped together. If you don’t have the time to calculate your transactions, you may have an unpleasant surprise at the end of the month. The only advantage is that you can accumulate expenses even before your salary arrives. It is therefore a form of credit in another form. To take advantage of this advantage, you would have to pay more!
Note: Whether it is one or the other, the holder can carry out operations in France and anywhere in the world.
The card with systematic authorisation is the most secure, as overdraft is impossible. This way, you limit the risk of payment incidents. There is also what is known as a bank withdrawal card. It is especially suitable for young people and teenagers to help them control their budget. And finally, the top-of-the-range card (Visa Premier or MasterCard Gold card) offers very extensive assistance and insurance. In short, the coverage is more or less complete for those who travel frequently.
Why use a bank card comparison?
Not all banks are the same. Therefore, it is advisable to use a bank card comparison to compare the offers, whether in terms of overdraft, ceiling, etc.. Using this tool, quickly find the most profitable card that includes the most interesting services!
Tips on how to use online and remote banking properly 22 Apr 2020 12:52 AM (5 years ago)
Thanks to the internet, life becomes simpler. Yes, before, it was necessary to go to an agency to carry out operations and respect the opening hours. Nowadays, it is possible to use the services remotely without worrying about the time it is. But how to use online banking, virtual banking on the Internet?
The different types of banks
There are three main types of banks:
traditional banks: these are the players on the traditional banking market who have opened Internet sites on which their customers can access various services remotely
online banks or pure players: these banks do not have physical branches. They are also called “remote banking”. In the majority of cases, they belong to leading banking groups.
and mobile banks or neobanks: their offers are mainly centralized on financial services that are only accessible on a smartphone
Instructions before using remote and online banking
First of all, equip your computer with a firewall, antivirus and anti-spyware software. This will allow you to optimize the protection of your device. If you don’t have a budget, don’t hesitate to opt for the free versions.
In addition, changing the access code for online services should be a habit with you. You should always be careful. And as much as possible, avoid logging on in public places. It would be better to use your own devices for security reasons.
Finally, don’t forget to install your banker’s official software (the Smartphone application) to simplify the use of online services. And disconnect your account after each use. However, avoid the web version. And above all, make regular updates.
The advantages of using online or remote banking
Online banking is known for its attractive rates. Indeed, prices are breaking all records. And if you want to save a little money, this is the best solution. Bank charges are almost zero, cards are offered free of charge after opening an account, accounts are unconditional on income or savings… In general, day-to-day transactions are free, such as transfers, ordering chequebooks, issuing bank account details, etc. In the same way, pricing is clear and transparent. Most of the new generation banks display their tariffs on their websites.
Moreover, access to the service is simplified and the holder can open his account on any medium (PC, laptop, tablet or telephone). In addition, account management is very easy to do remotely. There are no geographical or time constraints. What’s more, neobanks accept scanned documents for opening accounts: an identity document, proof of income and proof of address. Thus, in just a few clicks, you can open your account online. Finally, new customers benefit from a bonus of €80 or even more during promotional periods.
Note: If the services offered by your traditional provider do not meet your expectations, do not hesitate to change banks.
Why open a savings account online? 22 Apr 2020 12:51 AM (5 years ago)
Timidly but surely, online banking is gradually making its way into the daily lives of the French, who trust it for all sorts of functions. With rigorous security and identity verification protocols, online banking brings as many benefits as its traditional version. If you want to open a passbook, here are three good reasons to use the Internet to do so.
Online banking offers advantageous savings rates
Whether it’s a PEL, PEA or another type of savings plan, opening a passbook savings account allows you to anticipate the future by setting aside part of your income to subsidize a property purchase, a trip, or simply to keep a precautionary saving in case of an accident. This operation carried out by most French people also aims to finance children’s education when they grow up, or to improve retirement conditions. Today, many organizations provide consumers with innovative and easy-to-manage savings solutions.
Keep an eye out for the passbook offers concocted by banks, which regularly offer good plans for your savings. Indeed, online services have the same rates as physical banks, and can even set up exclusive operations via the Internet. For example, the zesto passbook is for anyone who wants to invest their money with an attractive gross base rate, as it is one of the three most profitable rates on the market. The subscription costs you nothing, and payments are made at your own pace, according to your capacities and your plans.
Build up your bank savings at any time
With the online service, you will no longer need to go to a branch to carry out your operations. Even the procedure for opening a savings account is done online, whenever you want. All you have to do is send the scanned documents or by post and sign the contract digitally and securely. You are then free to top up your savings account from your personal space. You keep the possibility to make your transfers by credit card or cheque.
Your account statements are produced electronically, and accessible on your space when you need them. Important documents such as your bank account details are also available there. In the event of a specific request, the customer service department is reactive in order to process the e-mails and letters received as quickly as possible.
A free and unconditionally cancellable booklet offer
If you hesitate to open a savings account over the internet for fear of encountering difficulties in the event of a closing, keep in mind that the regulations of an online bank are the same as those of a traditional bank. The opening of a savings account is therefore free of charge, usually conditional on a first payment of one to a few dozen euros. Closing a savings account is just as easy, in case you would like to get your savings back in order to realise your project, help your children or relatives, or remedy a difficult situation.
The certain advantage of online banking, for savings or for the current account, remains its cost. Considering the real time saving on the operations carried out, it is one of the branches of the banking sector that has been growing the most in recent years.