Credit Repayment Difficulties
You have one or more ongoing credits: a mortgage or an installment loan. For some time now, you have been experiencing difficulties in repaying or paying your monthly installments.
For now, you can still pay your monthly installments but you suspect an upcoming difficulty that will have a considerable impact on your budget such as an economic layoff, a divorce, an illness, etc…
Carefully read the following information: it will help you cope with a delicate situation of over-indebtedness.
One key word: don’t wait until it’s too late!
You have taken out a mortgage or a personal loan. In the event of a two-month default on your monthly payment, your bank or financial institution has the legal obligation to report your credit agreement and proceed with your listing with the National Bank of Belgium.
The consequences can be serious: seizure of your house, inability to borrow as long as you are listed for more than 15 months after the repayment of your defaulted credit.
If you are having difficulties repaying your credit or you think your situation will quickly deteriorate due to an unfortunate event affecting your budget, do not wait, contact your CPE brokers immediately. The sooner we are aware of your situation, the easier it will be for us to find a solution together.
We could, for example, consider:
- If you have only one ongoing credit, buying back your credit under better conditions, settling it, and granting you a new credit spread over a longer period;
- If you have several ongoing credits, consolidating your credits into a single credit with a lower monthly installment spread over a longer period;
- If you own real estate, granting you a owner’s credit by taking out mortgage guarantees on your real estate;
- If you can find a guarantee, having your ongoing credit bought back by you and a third party who would commit alongside you.
Do not hesitate to contact us and make an appointment with one of your advisors. We handle each case with complete discretion and confidentiality.