The recent publication by Employ Group of the unemployment figures begs the question: can one make a credit redemption when one is looking for a job?

Rising numbers

Rising numbers

The report is a little bitter: while the indicators are green, the unemployment curve is off again in July. The latest figures published by Employ Group show a 1% increase in the number of jobseekers, nearly 35,000 more unemployed. All in all, 3,518 million people are registered at Employ Group, 3,775 million if the overseas territories are taken into account.

Other indicators in good shape

Other indicators in good shape

Paradoxically, other economic indicators are green. According to the method of calculation of INSEE (National Institute of Statistics and Economic Studies), unemployment is down, by 0.1 point in the second quarter, and is reduced to 9.5% of the active population.

The same INSEE also notes in a recent study that the French remain optimistic about the future and the evolution of unemployment.

GDP (the gross domestic product, an indicator of economic growth), an increase of 1.6% in 2017 should be observed. In addition, the French continue to consume (+ 0.3% in the 2nd quarter). All is not black. Thus, the rise recorded by Employ Group can be relativized.

Buyback credit and unemployment, is it reconcilable?

Buyback credit and unemployment, is it reconcilable?

Nobody is immune to a hard blow (job loss, accident, illness…) and this can have consequences on the budget of a household borrower. In this case, the purchase of credit can be an interesting solution to clean up your finances and get off to a good start.

In fact, the credit buyback allows you to consolidate all your loans and debts into one credit. By repaying only one maturity per month, you can reduce your debt ratio. We understand the value of this operation: in case of financial difficulties, the purchase of credit allows you to reduce your monthly payments and, if necessary, to find new investment capacity or savings.

But not all households are eligible for this operation. In other words, the question is this: in the case of interest – the job search – can one benefit from a credit buy-back? The answer is… rather negative.

“Rather” because households in this situation are not totally excluded from the loan consolidation. Admittedly, credit redemption organizations do not consider unemployment benefits as permanent income. However, if one of the spouses receives sufficient resources to cover the monthly payments and expenses of the household, it can benefit from the repurchase of credit. If you are concerned, do not hesitate to carry out a credit redemption simulation to get an overview of your future loan conditions.