Borrowing money when in France

When you live in the UK you might have applied for a loan from a bank, and depending on your credit rating, purpose of the loan and amount required you may have found it a relatively straightforward process, if you were approved for the loan.

When it comes to the process of borrowing money in France, the chances are that you'll find it is not exactly easy. If you do have a loan, then it is also likely that it won't be too easy to pay back either, particularly in the current financial climate.

So if you are having any sort of difficulties, then rather than struggle through you should go and see your French equivalent of a bank manager and see what options there are to help you with repayments.

For instance, there may well be the option to extend the term of the loan, which means that your monthly payments come down (although you will end up paying more over the entire term of the loan), or there may be the option to reduce payments on a temporary basis to ease you through the worst of your financial predicament, on the understanding that at a specified period, say a few months down the line, you will start repaying the full amount and noting that the total sum repayable will increase as with any payment holiday or payment reduction.

In summary, rather than struggling on desperately trying to make ends meet, do see if you can come to some arrangement to make things better, and also rememebr that people like the local notaire may also be able to provide you with useful advice.

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Borrowing money when in France