Today, many players have penetrated the various markets by creating services with the aim of facilitating the steps taken by consumers. The credit buyback broker is one of them, but who is he?
Credit redemption broker: who is he?
The broker for redemption of credit is the contact par excellence to address with confidence a quote for the purchase of credits . An intermediary in credit consolidation operations, once unknown to the general public, today, individuals solicit more for funding.
An activity regulated by the Banking and Financial Regulation Act characterized 22/10/10 , a new regulation that allows to define precisely to which category belongs a broker buyback credit. Prior to this date, the business of loan buyback broker was not supervised. It protects consumers more.
An order definitively entered into force in 2013, since the single register of intermediaries in banking and payment services ( IOBSP ) was created by ORIAS .
The conditions to become IOBSP
According to Article L546-1 of the monetary code is financial all IOBSP must register in the single register of intermediaries in insurance, banking and finance (ORIAS).
The credit buyback broker must regenerate his registration each year, and for validation, he must meet the conditions specified in the decree of the Council of State for this purpose.
The application for registration is subject to a contribution that is of the order of thirty euros (€). If, however, the credit repurchase broker does not take into consideration the payment of the cost of registration, the application lapse past 30 days.
The role of a loan repurchase broker?
As stated at the beginning of the 1st paragraph “Broker buying back credit: who is it? “, The loan repurchase broker is a safe value to obtain favorable notice to his request for redemption of credits .
His knowledge of the market and his technical knowledge in interbank negotiation, allow him to finalize more than eighty percent of his client files by an acceptance of the lending institution.
Presenting a credit consolidation file to a banking institution requires a lot of knowledge about credit consolidation and business techniques to complete the negotiations with the bank analyst.
So to avoid being denied a request, it is advisable to use a broker buyback credits. All the more so when the case encountered is that of a repurchase redemption of credit .