The Centrale des Crédits aux Particuliers is a body established within the National Bank of Belgium. And whose objective is to prevent over-indebtedness by providing. To the lender information concerning the consumer’s current credits and possible payment defaults. Our lawyer takes a closer look at the role of this major player in consumer credit.

Skills Individual Credit Center

The National Bank of Belgium records within the Centrale des Crédits aux Particuliers (CCP) data relating to consumer loans and mortgage loans taken out for exclusively or predominantly private purposes, but also notices of collective debt settlement.

In order to obtain information on the financial situation and solvency of a potential borrower. The lender is obliged to consult the CCP before concluding a credit contract.

The lender must also re-examine the consumer’s solvency each year on the basis of a new consultation with the CCP.

Note that the CCP’s response must be globalized. That is to say, it can only relate to the number of credit contracts and the sum of the credit amounts recorded.

Any consumer who takes out a consumer or mortgage loan subject to registration in the CCP. Must therefore be informed by the mention in said contract of a specific clause.

Positive side and negative side of the Central credits for individuals.

The CCP is made up of two parts.

The positive aspect is that in which consumer credit or mortgage credit contracts taken out by a consumer in Belgium are recorded.

The lender is required to communicate to the CCP the data concerning each credit contract within two working days after the conclusion of the contract.

The data retention periods in the event of culpable non-performance are 3 months and 8 days after the date of the end of the credit contract.

The negative aspect is the one in which delays or defaults in loan repayment are recorded.

Payment defaults are recorded in the CCP as soon as the amount due exceeds 3 months.

In the event of regularization, the CCP keeps the data for 12 months from the date of regularization of the credit contract.

Consumer right of access

Each consumer and each person who constitutes security has access, free of charge, to the recorded data. In his name with the National Bank of Belgium and can freely and free of charge request the rectification of erroneous data.

This right of personal access can be exercised in three ways: via the Internet, using your electronic identity card. By letter, accompanied by a copy of both sides of your identity card, addressed to the National Bank of Belgium. At the National Bank counters, upon presentation of your identity card.

Any request from the consumer or the person providing security. Aiming to rectify or delete erroneous data recorded in his name. Must also be accompanied by any document justifying the merits of the request.

Crédit Populaire Européen is a credit intermediary, specializing in consumer credit, mortgage credit, insurance and all other alternative solutions linked to the world of credit such as the repurchase or centralization of your current credits for example .

You have decided to take out a loan to finance the acquisition of a new car for example or to renovate your house or quite simply because you need cash for various reasons.

The credit market is very dense and for occasional borrowers, it is not always easy to choose their credit broker among the many possibilities available to them.

At Crédit Populaire we have no shortage of assets to persuade you to join us:

The best rates on the market

We have been active in the credit market since 1996 and maintain close ties with the largest Belgian banks specializing in retail, i.e. credit to individuals. Cet atout nous permet de mettre en concurrence les produits et de choisir pour nos clients le taux d’intérêts le plus attractif du moment.

A wide range of products

You will find with us all the existing credit products on the market: consumer loan, express credit, mortgage credit, owner credit, credit repurchase, credit consolidation, energy credit, etc.

Speed of processing your credit request

Call us in the morning and you will have an answer early in the afternoon. We will then give you an appointment within two days to sign your credit contract. Funds are in your bank account within business days after signing.

We understand you…

With us, there is always an employee who speaks your mother tongue: we speak Dutch, English, Spanish, Italian, Portuguese, etc.

After-sales service is included

You just need to surf our website to understand that our company is much more than credit. We are at your disposal for any questions or advice related to credit. In addition, beyond your credit, we are competent to find alternatives to your difficulties. Contact us about this.

Insurance fraud costs each household €150 each year. Among the most common cases are car theft and false claims reporting. Our lawyer details the dangers to which you expose yourself in the event of insurance fraud.

Types of Insurance Fraud

Insurance fraud is of two types. We distinguish, on the one hand, fraud in subscribing to the contract and, on the other hand, fraud in reporting the claim.

Contract fraud involves, for example, inaccurately indicating the value of the insured item or insuring an item that does not exist or omitting data.

Declaration fraud during the contract consists of describing a claim inaccurately, exaggerating the extent of the damage or even falsifying documents.

Sanctions

From a criminal point of view, insurance fraud is not defined as such in the Penal Code.

However, numerous provisions allow the insurer to file a complaint against the fraudster, such as fraud, forgery, false testimony and arson.

Furthermore, the injured insurer can also rely on the law on land insurance contracts to cancel or terminate the insurance contract.

To do this, the insurer draws a distinction between fraud and good faith forgetting, with unintentional breaches being treated more flexibly.

The insurer will not be required to compensate the insured who intentionally caused a loss and may keep the premiums already paid.

In addition, the name of the fraudster as well as those of the people involved in the fraud will be entered in the Datassur file for a period of 10 years.

This will have the consequence that the fraudster will experience certain difficulties in taking out another policy with another insurer who has consulted the said file.

Recommendations

Prioritize transparency and frankness with your insurer! Provide them with correct and complete information or risk facing serious sanctions.

When you take out a credit contract, it is often accompanied by a deed of assignment of debt. This guarantee, often called “transfer of remuneration”, offers additional guarantee to the lender in the event of irregularities in the repayment of your loan. Our lawyer takes stock of this very common legal mechanism in terms of credit.

Concept on the assignment of debt

The assignment of debt is an agreement by which the worker (debtor) transfers to the credit organization (creditor) the ownership of his debt (remuneration) which he holds towards his employer (assigned debtor).

By signing such an act, the consumer therefore authorizes the credit organization to directly collect the seizable part of the salary paid by the employer, without the need for a prior judgment.

The employer will then only be able to pay the remuneration to the credit organization.

If the employer does not take the transfer of remuneration into account and continues to pay directly to the worker without making the obligatory deductions, he will be required to pay a second time to the banker.

This is an application of the adage “he who pays poorly pays twice”.

Notification

The law provides that the assignment of debt by authentic deed is only enforceable against the assigned debtor from the moment it has been notified to the assigned debtor or recognized by the latter.

It is therefore sufficient for the credit organization to notify the assigned debtor by regular mail. The important thing is that the credit organization can provide proof that it has brought the assignment to the attention of the assigned debtor.

This is why registered mail is more often used in practice (see the bailiff’s exploit in certain cases).

In the context of an assignment of debt under private signature, the law requires the credit organization to notify the assignor of its intention to execute the assignment of remuneration and to send to the assigned debtor a copy of the notification made to the assignor .

At the end of the opposition period, the credit organization must also send a copy of the transfer document to the assigned debtor.

It is not uncommon for the same debt to have been assigned several times to different credit organizations. In such a case, it is the rule of anticipation which takes precedence. It is therefore the first credit organization which notifies the transfer which wins.

Opposition

In the context of a transfer under private signature, the transferor has a period of 10 days to file an opposition from the date of sending of the notification by the transferee.

The receipt of the notification of the opposition has the effect that the assigned debtor can no longer make any deduction from the remuneration with a view to the execution of the assignment.

In the event of opposition, the assignee summons the assignor by registered letter sent by a bailiff, before the justice of the peace of the canton of the assignor’s domicile for the purpose of validating the assignment.

The justice of the peace makes the final decision regardless of the amount of the transfer. In the event of validation by the justice of the peace, the assignment may be executed by the assigned debtor upon simple notification made to him by the clerk within five days of the judgment.

Conversely, if the worker does not object to the assignment of remuneration, the assignment will take effect from the date of notification of the certified copy of the assignment to the assigned debtor.

In the context of a transfer by authentic deed, the transferor does not have the possibility of filing an opposition. He may limit himself to taking legal action to request terms and deadlines or contest the authentic instrument.

Furthermore, for the implementation of the transfer of remuneration to be enforceable against third parties, the transferee must file a notice of transfer in the central notice file.

Recommendation

Pay your monthly payments seriously and rigorously to avoid such inconveniences. It is never pleasant to see your salary decrease each month. Warning, borrowing money also costs money.

Despite the unpleasant nature of life annuity sales, where one party has a financial interest in the death of another, this formula can be interesting for both the seller and the buyer. We briefly outline its particularities.

Concept on life annuity sale

The life annuity is the contract of sale of real estate by which the buyer (Debrentier) pays to the owner (Annuitant) throughout the life of the latter, an annuity called life annuity.

In the case of a sale, the deed must be drawn up before a notary by both parties. In the authentic deed, a certain number of clauses must appear such as the identification of the parties and the identification of the property.

It will not be uncommon to also see the parties agree on a sales compromise prior to the execution of the authentic deed.

Annuity

The law allows the parties to freely set the amount of the annuity. This amount will therefore depend on the nature of the rights transferred; the life expectancy of the annuitant, but also the predictions that his state of health allows us to make; the value of the goods sold as well as their profitability; the possible existence and importance of the bouquet which was paid in cash upon signing the deed.

In order to ensure the balance of the contract and to protect the seller of the building, contractual freedom does not, however, authorize the sale to be made under derisory or non-serious financial conditions.

It should be noted that life annuities are not taxable in Belgium as long as they are paid by an individual natural person.

In such a case, the life annuity therefore constitutes a net monthly income for life.

Recommendations

Although it is legally possible to offer a life annuity property at any age, it is generally between 60 and 90 years of age that the sale with a life annuity will be the most interesting and will make it possible to find a buyer under the best conditions.

This sales formula is very interesting for the seller who will benefit from his capital himself, instead of leaving it to greedy or sometimes distant heirs who will give up a large part of it as inheritance tax.

It can also be interesting for the buyer who will pay less than if he had taken out a mortgage loan.

However, be careful because life expectancy is not an exact science.

In the context of real estate transactions, it is common for the parties to insert a suspensive condition into their contract, such as for example obtaining a mortgage loan, the delivery of a title deed free of easements, the completion of a soil study or the issuance of an urbanization permit. What is a suspensive condition? What are its effects ? Our lawyer takes stock of this issue.

Concept of suspensive condition

The law defines the suspensive condition as a future and uncertain event, still unknown to the parties to an agreement, and on which they make the birth of a conditional obligation dependent. In the case of a real estate sale, for example, the buyer will fulfill his commitments to the seller provided that he obtains financing.

A suspensive condition is therefore a condition which, if it is not fulfilled, renders the contract for which it was concluded, void. To be valid, this condition must not depend solely on the will of one of the parties. In such a case, the condition is called potestative and it is not valid. This will be the case, for example, if you buy a new property on the condition of selling your old property.

Effects

The law specifies that a contract with a suspensive condition is only validly formed once the condition has been fulfilled. This is why, in practice, and specifically in the context of real estate sales, many prospective buyers believe that they are not contractually bound until they have obtained their financing.

These buyers see the suspensive condition as a way out in case they are no longer willing to acquire the property. Think again !

Indeed, the buyer who has committed himself under a conditional obligation cannot evade his commitment by preventing, through his wrongful act, the condition from being fulfilled.

Case law considers that it is the principle of good faith execution of contracts which requires the buyer to act as best as possible and loyally to obtain financing. Consequently, the buyer must make all the efforts that can reasonably be expected of him in order to obtain his credit, for example by requesting financing from a bank other than the one with which he is accustomed to dealing. .

Sanctions

In the event of fault, negligence or carelessness on the part of the buyer, the suspensive condition will be deemed to have been fulfilled. The sale will be perfect and must be executed. It also follows that registration fees will be due and that the seller may seek legal performance in kind or cancellation of the sale as well as additional damages.

Recommendations

On the one hand, we suggest that you word the clause which provides for a suspensive condition in a precise and unambiguous manner, with particular emphasis on the time period you intend to benefit from to obtain your credit.

On the other hand, be proactive! Do not hesitate to consult several financial institutions and be sure to continually inform the seller of your efforts.

Finally, we recommend that you carefully keep refusals from financial organizations so that you can oppose them to the seller in the event of a dispute.

We have seen in the context of the theme relating to the assignment of debt, such a mechanism is practiced on the net remuneration of the worker. However, only part of this net remuneration can be transferred. The law in fact sets remuneration brackets within which it determines the amount that can be transferred. We provide an overview of the transferable or seizable portions for the years 2015 and 2016.

In 2015, transferable amounts

For salaries

To be increased by €66 per dependent child. To benefit from the increase, the garnishee debtor must declare it using the dependent child declaration form.

For replacement income

To be increased by €66 per dependent child. To benefit from the increase, the garnishee debtor must declare it using the dependent child declaration form.

Since 2016

For salaries

To be increased by €66 per dependent child. To benefit from the increase, the garnishee debtor must declare it using the dependent child declaration form.

For replacement income

To be increased by €66 per dependent child. To benefit from the increase, the garnishee debtor must declare it using the dependent child declaration form.

Generally speaking, as a borrower, you are bound from the moment you sign a credit contract. The law nevertheless authorizes you to renounce your commitment as long as the lender’s general conditions provide for it in a clear and concise manner. Let’s take stock of this significant protection organized by the legislator for consumers.

Deadlines for a credit contract

As a consumer, you can renounce the credit contract for a period of fourteen days from the signing of your contract. The law covers “calendar days”, that is to say each day of the week, including Saturdays, Sundays and legal holidays.

However, the law provides that the fourteen-day period may begin to run on the day the consumer receives the general conditions, if this date is later than the date of conclusion of the credit contract.

Exercise of the right of withdrawal

You are never required to give reasons for why you wish to use your right of withdrawal. Furthermore, the law is not very formal since you just need to notify the financial organization, by registered letter to the post office or by any other medium accepted by your co-contractor (for example, a simple ordinary letter or an email ), your intention to renounce the contract.

The deadline is deemed to have been met if the notification was sent before its expiry. It therefore does not matter whether the lender receives your letter after the fourteenth legal day since it is the date of shipment (postmark) that is decisive.

Consequences

If this is a credit contract under which property is made available to you, you must return it immediately after notification of withdrawal. It goes without saying that the right of waiver is not applicable if you have consumed, damaged or lost the good.

For any other credit contract, that is to say when you receive capital, you are required to immediately repay this capital to the lender and at the latest within 30 calendar days following notification of the waiver. In both cases, you will be required to pay the interest due for the credit withdrawal period, calculated on a daily basis at the agreed borrowing rate.

Withdrawal from the credit contract automatically results in the cancellation of accessory service contracts. For example, your outstanding balance insurance contract will also end, so the insurance premium already paid must be returned to you.

The lender will not be able to claim any other compensation from you for any reason whatsoever.

In the event of a traffic accident, it is customary for it to be the auto liability insurer of the driver responsible who compensates you for material and bodily damage. However, in certain cases, the damaged driver is unable to call the opposing insurer for guarantee. Our lawyer informs you about the role of the Belgian Common Guarantee Fund (FCGB) which then seems to be the only possible recourse.

The Belgian Common Guarantee Fund

Auto liability insurance is compulsory insurance for all vehicles traveling on public roads. However, it sometimes happens that recourse against the insurer which should legally cover the liability of the responsible driver is impossible.

For example, when the author of the accident fled without being identified or when he did not respect his legal obligation to insure his vehicle.

In order not to leave the victim without compensation, the law provides for the establishment of a Belgian Common Guarantee Fund, which compensates for the absence of an insurer in certain cases.

Conditions of intervention and compensation

The cases of intervention of the FCGB are as follows:

• • If the opposing insurer cannot pay
  • If the responsible vehicle is not identifiable
  • If the responsible vehicle is not insured
  • If it is a fortuitous event
  • If the responsible vehicle was stolen
  • If the opposing insurer has not responded to a request for compensation
  • If the foreign insurer has not appointed a claims manager in Belgium

The accident must involve a motor vehicle, which excludes damage caused by a cyclist for example.

Concerning compensation, the FCGB compensates all bodily injuries, without ceiling. The FCGB also covers all material damage with a maximum ceiling of €100,000 except in the case of hit-and-run where only bodily injury is covered.

When the accident occurs in Belgium, no nationality or residence conditions are required for the injured person.

On the other hand, when the accident takes place outside Belgian territory, the injured person must prove that they have their main residence in Belgium.

FCGB appeal

The FCGB is legally subrogated to the rights of the injured person against the person responsible for the accident up to the totality of the amounts paid.

This can therefore have serious financial consequences for the responsible driver who will have to bear all the amounts advanced by the FCGB to the injured person.