Have you recently signed a credit contract? Whether it’s a mortgage or a consumer credit. Signing this contract creates obligations on your part, and non-compliance can lead to unfortunate consequences (such as a credit report). In this article, we discuss the consequences of being listed at the National Bank of Belgium as well as practical solutions that can help you get out of this situation.

Simulate your loan online

Obligations related to signing a credit contract

As soon as you have signed a credit agreement, the credit company is obliged to transfer the borrowed amount to your current account. Note that for obvious security reasons, you will never receive money hand-to-hand.

The borrower, on the other hand, is obliged to repay the credit, i.e., the borrowed amount plus the agreed interest and fees. To get a precise idea of the total cost of your credit, use our credit simulator. The interest rate will depend on the duration of your credit.

You will need to start repaying your credit within the month of signing your contract and no later than one month after signing.

Credit companies are obliged to register your credit contract with the Central Credit Register for Individuals of the National Bank of Belgium.

Consequences of non-payment

In case of non-payment of your credit after two installments, the credit company is obliged to report your credit to the Central Credit Register for Individuals and to list you with the National Bank of Belgium.

This situation has several consequences:

• You will be obliged to repay your credit immediately, plus interest and fees;
• You will be listed with the National Bank of Belgium until you have repaid your credit, interest, and all fees;
• You will remain listed for one year after you have repaid the credit, interest, and fees;
• You will no longer have access to the credit market during this period.

Simulate your loan online

What are the solutions in case of payment difficulties?

Do not wait to be listed. As soon as you know that you will inevitably encounter payment difficulties, contact your broker. We can offer you several solutions:

• We can attempt a credit buyback to increase the duration of your repayments and thus reduce your monthly premium;
• In case of multiple credits, we can attempt a credit consolidation to reduce your overall monthly premium.

Is it possible to borrow if you are listed with the National Bank of Belgium?

In principle, no. You can no longer borrow for a full year after all your credit, interest, and fees have been fully repaid.

However, there is a solution via the owner’s credit.

The owner’s credit is a mortgage.

Under what conditions can I take out an owner’s credit?

You can take out an owner’s credit under the following conditions:

• Be domiciled in Belgium or Luxembourg;
• Be the owner of a real estate property in Belgium or Luxembourg;
• Grant a mortgage on this real estate property;
• The real estate property must be fully paid off and free of all charges: however, we can consider a mortgage buyback to pay off the current mortgage and conclude a new credit;
• The loan amount must be at least €25,000 to cover the costs of the new contract.

Simulate your loan online

Do you want to apply for a loan? Do you need money quickly, want to buy a house or a car?

Have you visited our website or received one of our advertisements in your mailbox?

What is the easiest, fastest, and simplest way to submit your credit application?

How to apply for a loan?

You have three options:

• You can call one of our brokers;
• You can visit one of our agencies;
• You can submit your application online after doing a simulation on our website.

What are the essential documents to present when signing your credit contract?

Essentially, three types of documents:

• Your last three pay slips;
• Your bank statements showing that your salary is deposited into your current account;
• Your residence card or your identity card.

Are you married?

Both spouses must sign the credit contract.

Languages?

We are fluent in English; hablamos perfectamente español; Onze neederlands is zeer goed; Falamos perfeito Português; wir sprechen sehr gut Deutsch; Parliamo un italiano perfetto; Mir schwätzen Lëtzebuergesch.

Our website is translated into English, Portuguese, and Luxembourgish!

Are you looking for financing? Do you need money to make personal purchases, to finance the purchase of a car? A mortgage to buy a house, an apartment, or to finance renovation work in your home?

You are faced with a myriad of actors in the credit market, you surf the websites but you remain a bit worried because you do not know exactly what lies behind a credit intermediary.

We have created this little information letter and an explanatory video to reassure you and to explain very simply the process of a credit application in our company.

Our credit solutions

We grant credits for all purposes: from the need for cash to car financing or a mortgage to buy or renovate your house or apartment.

Your application must reach at least €2,500 and you must be domiciled in Belgium or the Grand Duchy of Luxembourg.

Submit your application

You have the choice between:

• Contacting one of our brokers directly by phone;
• Submitting your application online using our form.

Don’t forget that we have a loan simulator that will allow you to get a precise idea of the monthly payment you will have to repay based on the amount borrowed.

We transmit your credit application to one of our partners

Crédit Populaire works with 20 different financial partners, which allows us to guarantee you the best rate on the market.

We transmit to our different partners and keep the one that offers us the best conditions based on your request and profile.

We get a response within 24 hours of your request.

We defend your application

If we encounter a refusal, our brokers immediately contact the aggregators to defend your file, or we submit your request to another financial institution.

Remember that if you are listed with the National Bank of Belgium due to a default recorded in one of your previous credits, you will have to wait a year after settling this contentious credit to be able to borrow again.

Signing your credit contract

As long as you have not signed your credit contract, you are not bound by anything.

When your file is accepted, we will give you an appointment to sign your credit contract.

We can meet you in Mons, Brussels, Arlon, and Esch-sur-Alzette in Luxembourg.

When signing, you must bring the following documents:

• Your identity card (and residence card for foreigners);
• Your last three pay slips;
• Your bank statements proving that your salary is indeed deposited into one of your current accounts.

If you are married, your partner must also sign the credit contract.

Receiving the funds

The borrowed funds will be transferred to your current account within 48 hours of signing your credit contract. For obvious security reasons, you will never receive the money in cash at one of our agencies.

You will start the monthly repayments within the month of signing your credit.

No problem.

You simply need to know IBAN and BIC accounts. There are no fees to repay your credit from an account in Luxembourg.