Public servants are often believed to be safe from financial problems, particularly because of job security, but they too may be forced to buy back credit to reduce their excessive debt.

Over-indebtedness of civil servant households

Contrary to popular belief, households with one or more civil servants are also frequently faced with over-indebtedness, and, paradoxically, it is their ” privileged ” professional situation which is often the source of their difficulties.

Indeed, it is quite easy for a civil servant to obtain a loan because the stability of his employment largely plays in his favor near the bankers and other lending organizations. Worse still, being less concerned than others about a drop or even a loss of their income, public officials do not always measure up to their commitments when they take out a loan. However, a credit entails the same long-term obligations for everyone, and it can happen that the repayments ultimately exceed the repayment capacity of the borrowers, all the more so when an accident in life (death of the spouse, illness, divorce) occurs suddenly by upsetting the apparent financial security of the home.

Moreover, even without suffering a particularly painful setback, the situation of civil servant households changes over time like all other households, thus entailing, for example, expenses related to the education of children, with their entry into the workforce. university, the need to find them an apartment in another city, to support themselves during their studies, to buy and insure a vehicle, etc. So many expenses that borrowers might not have thought of a few years earlier, when they had contracted their loans. Reimbursements still in progress can then become simply insurmountable.

The more advantageous credit buy-back for civil servants

The repurchase of credit is then revealed to be an ideal solution, because as a civil servant, the stability of employment is an important asset to convince the bank or the repurchase organization of credit of its capacity to repay on the long term. Regular, sustainable income, which generally changes from year to year, is also an excellent argument for obtaining very advantageous interest rates: many banks offer more advantageous conditions to civil servants, in return for more risk. low in arrears (also called ” credit scoring “).

Finally, it should be noted that there is the Social Credit of Civil Servants , an association specializing in the granting of credits to public service employees, which can not only ensure the repurchase and consolidation of current loans but also offer loans in all types (home loan, consumer loan, work, etc.).

Leave a comment

Your email address will not be published. Required fields are marked *