Are you listed with the National Bank of Belgium? There are solutions to help you access credit. You took out a loan: a personal loan of €25,000 for renovations, car financing of €12,000, or a mortgage loan of €250,000.
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For years, you have been repaying your loan without any issues. Unfortunately, you learn that you are going to be subject to a collective dismissal procedure. Difficulties will soon arise, and your monthly repayments will be affected.

Are there any solutions? Let’s explore this delicate issue.

What is a banking ban?

In Belgium, as soon as you fail to pay two monthly installments of your loan, the lending institution is required to report your credit contract to the National Bank of Belgium. You are then listed.

What are the consequences?

The consequences can be dramatic because the bank can initiate foreclosure proceedings, and your house can be sold by the bank to repay your loan.

Additionally, due to your listing, you can no longer access the credit market until your dispute is settled. Furthermore, once settled, the law imposes a 15-month waiting period before you can access the credit market again.
Applying for a loan

Are there solutions?

Yes, the first solution is to take out income loss insurance. This insurance comes with specific conditions and is generally limited in duration. Typically, the insurance only covers you for 12 months after losing your job. However, this period allows you to look for a new job as quickly as possible.
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Additionally, in some cases, if you own a property free of charges, your credit institution may settle your outstanding balance with a homeowner loan.
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Prevention above all

In this area, more than others, it is better to prevent than to cure. If you are not certain of your contributory capacity, it is highly recommended to take out income loss insurance or remaining balance insurance (in case of death). In some cases, the bank even makes it a sine qua non condition for accepting your credit application.

You are unemployed and you would like to apply for an unemployment loan, a personal loan, or a consumer loan? Is unemployment and a credit application compatible? Is it possible for an unemployed person to obtain a loan? This is the topic we will briefly address today. Discover credit for unemployed.

Difficult access to credit for the unemployed

We regularly receive credit requests from unemployed people. These are usually people who have recently lost their jobs and have been unemployed for a short time. Some unemployed people thus enjoy a comfortable asset base acquired during their professional lives.
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What determines the granting of credit is the seizability of income. In other words, credit can only be granted to a solvent person. That is to say, a person whose bank can easily seize income in case of default.

Unemployment benefits are not seizable, which hinders access to credit in principle.

The thresholds for the seizure of credit for the unemployed

The law has organized a progressive regime of income seizure (salaries). And in particular unemployment benefits (different regime from salaries).

Wage garnishment allows the creditor to seize part of the salary or the social allowance of the debtor for the repayment of his debt.

For income from activities other than the performance of a labor or apprenticeship contract, such as unemployment or sickness benefits, pension, etc., from January 1, 2013, the following limits must be applied.

Net monthly income seized part amount seized
€ 0 – € 1,069 0 % 0
< € 1,069.01 < € 1,149 20 % € 15.80
< € 1,149.01 < € 1,386 40 % € 94
+ € 1,386 net beyond € 1,386

Unemployment benefits are therefore fully seizable beyond a monthly amount of € 1,386.

This means that below this amount, the creditor cannot seize your unemployment benefit in case of default. In this case, your access to credit is of course reduced and you have little chance of seeing your credit application accepted.

Existence of other guarantees

It may be that a person is unemployed after years of work during which he has acquired a comfortable asset base (e.g. house, car, savings, securities account).

If this unemployed person wants to submit a credit application, the credit intermediary (the broker) will carefully examine his asset situation and see to what extent he can find guarantees.

Most often, it will be a question of registering a conventional mortgage on a real estate property owned and free of charges by the unemployed person.

It should be noted that the mortgage loan is acceptable beyond a certain amount (generally € 25,000) given the notary fees that this type of credit generates.
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faq

The world of credit and banking can sometimes seem opaque and complex. You intend to take out a loan or credit and you have many questions about credit.

In the field of credit, as elsewhere, it is not always easy to find the available and competent person who provides correct and clear answers.

At Crédit Populaire Européen, a specialized lawyer has designed a particularly complete, detailed, and updated daily website where you can find all the answers to the most frequently asked questions you may have about credit.

Here is a quick overview…

Our FAQ section (Frequently Asked Questions) is divided into two sections: questions related to mortgage credit and those related to consumer credit (personal loan, installment loan).

Your questions about mortgage credit

Here are some examples of topics for which you will find detailed answers:

You will find answers to many other specific questions about mortgage credit.

Your questions about consumer credit

Here are some pertinent questions you might have:

And many more for which our team strives to provide satisfactory answers.

At Crédit Populaire Européen, we do not follow a mercantile logic and our team is at your disposal to answer all your questions whether you are our client or not, whether you are inclined to take out a loan or not.

Our passion is our profession. Our ethics are first and foremost to inform you completely and correctly…Call us and you will see…

Nowadays, getting a driver’s license leads to more and more travel conveniences. Every year, driving exams are taken by many students, and it is not uncommon for many of them to wish to obtain their own car to be much more independent from their parents. However, buying a vehicle has a considerable cost. Young people also have lower incomes, so obtaining a car loan becomes a solution in some cases. But under what conditions can a student obtain a car loan?

Simulate your car loan online

From what age can a student obtain a loan?

Of course, a person wishing to take out a car loan must be of legal age. This condition also applies to other types of loans such as a mortgage, vacation loan, motorcycle/scooter loan, as well as insurance and all other products offered by Crédit Populaire Européen. In any case, the official driving of a car can only be done at a minimum age of 18 years. Therefore, this requirement regarding the student’s majority will not pose any problem.

I am a student, under what conditions can I apply for a car loan?

student loanThe various formalities to be completed to obtain a car loan are quite simple. Unfortunately, the student cannot, on their own, be granted such a loan. Indeed, one of the primary conditions for the allocation of a loan is that one must be regularly remunerated. Thus, student jobs are not taken into account: only permanent contracts are valid.

A car loan is typically repaid over a period of three to five years (depending, of course, on the cost of the vehicle). Without fixed income, it is therefore impossible to ensure this repayment. Parents or any other adult will need to guarantee the commitments made for the student.

Furthermore, the student’s parents must be domiciled either in Belgium or Luxembourg. Moreover, anyone aspiring to obtain a loan cannot be listed or reported by the Belgian National Bank. However, it should be noted that some cases can bypass this clause, although, most of the time, these procedures are not the simplest.

What documents are required for the approval of a car loan?

When signing the contract certifying the approval and formalization of the car loan, the presence of the identity card as well as the residence card (for those not born in Belgium) is required. Then, the student’s parents will need to provide their last three pay slips as well as their last three bank statements attesting to the payment of this salary into the bank account. These documents are required for any type of loan.

More specifically and concerning the car loan, the order form is required for new cars. For used vehicles, the registration certificate and the gray card are mandatory, not to mention the private deed.

Example of a car loan

We invite you to use our simulator. You will notice that the APR applied to a new vehicle is lower than for a used vehicle. Why? This is simply due to the fact that the lender’s guarantee is higher. Indeed, in the event of resale, the new vehicle will retain more value. Vehicles less than 3 years old are also considered new.

New vehicle

Loan amount APR Duration Premium Total cost
€22,000 4.99% 60 months €413.95 €24,837
€30,000 4.99% 60 months €564.48 €33,868

Used vehicle over 3 years

Loan amount APR Duration Premium Total cost
€22,000 8.5% 60 months €448.04 €26,882
€30,000 8.5% 60 months €610.96 €36,657

L’ErmitageSupport L'Ermitage is a Reception and Educational Assistance Service (S.A.A.E.) in the youth aid sector.

Our company has started a sponsorship with L’Ermitage.

Its missions are:

  • Organize short, medium, or long-term care for young people in family difficulty.
  • Organize the follow-up of young people who return to their families after a stay in the institution.
  • From the age of 16, organize the independence (room or studio) of young people for whom there is no opportunity to return to their families and who reach the age of majority.

The young people with whom the institution works are 15 boys and girls aged 3 to 18 years.

The juvenile court, the judicial protection service, or the youth aid service mandates L’Ermitage to work with the young people and their families to find ways of thinking and solving the problems that led to their placement.

To do this, a multidisciplinary team works to properly implement the educational project. This team consists of 8 educators, a head educator, a male and a female maintenance worker, a psychosocial agent, an economist, and a director.

actualité du credit

You have undoubtedly noticed from the sudden flurry on social networks in recent days that elections are approaching…

Indeed, on May 25 we will vote to elect our regional, provincial, and European representatives. Yesterday, in France, the first round of municipal elections (mayoral choice) took place, leading to a profound disapproval of the policy conducted by the socialist president François Hollande.

With 46.54% of the votes in favor of the UMP-UDI coalition, the right is the big winner of this first round. However, two other lessons are challenging for democrats. Firstly, the abstention rate, which broke a historical record at 35.87%, and the breakthrough of Frontist candidates with a triumph in the first round by Steeve Briois in Henin-Beaumont, a town of nearly 25,000 inhabitants, so close to us…

Can we already draw lessons from this election regarding the reasons for the inexorable rise of far-right ideas over the past 20 years, and can we find similarities in Belgium?

In the municipal elections in France, voters will have to deal with tripartites

Earthquake this morning in Matignon and at the Elysée Palace: the socialist party, which holds the presidency, the National Assembly, the Senate, and the municipalities, receives a terrible blow: 37.74% of the votes compared to 46.54% of the votes given to the UMP-UDI coalition. It is evident that this result is a punishment vote against the policy conducted by French president François Hollande.

It must be said that the missteps and scandals that undermined the first two years of François Hollande’s five-year term were not lacking. No one will forget the Cahuzac affair, as well as the recent wiretapping scandal involving Thierry Herzog, Nicolas Sarkozy’s lawyer, not to mention the incredible imbroglios that exist within the presidential majority between the PS and the greens over certain campaign promises of the president that will not be kept (the Notre-Dame-Des-Landes airport, the closure of the Fessenheim nuclear power plant to name just two).

However, what worries the French citizen, but also the European citizen, is the inexorable rise of Frontist candidates to the point that for the second round of the municipal elections next week, the voter will have to deal with numerous tripartites since the Frontist candidates qualify for the second round.

The republican pact, a historical error in France and Europe

For nearly 20 years, the National Front has been gaining votes in France and its weight and importance have been strengthening from election to election. For nearly 20 years, the leaders of traditional parties have not heard the message from the polls.

French voters are tired of the solutions proposed by traditional parties, and they express this in two complementary ways: by abstaining from voting and by voting for the extremes. Make no mistake: not voting is the democratic expression of a very clear choice, and this choice is to tell politicians: “You disappoint us! You do not meet our needs.”

The entire French political class is responsible for this result. It must be said that we have rarely seen such a flood of mediocrity in the political life of France. We no longer count the scandals, the absurdities, and the low blows exchanged by the leaders of the PS and the UMP. The French voter is right to feel disillusioned in the face of such a torrent of pathetic behavior. When a minister in charge of the budget and the repression of tax fraud is prosecuted by the Justice for not declaring the existence of bank accounts in Switzerland and Ireland, and when an incumbent president is caught riding a scooter, one must accept that the voter reacts.

For 20 years, the PS and the UMP have formed a republican front to block the National Front. This, in our opinion, is a historical error that will be perpetuated in the second round of the municipal elections in France. Traditional parties do not admit that the National Front is a republican party and that voters can freely choose to embrace the political program of this party. By demonizing the National Front and excluding it from any political responsibility, traditional parties only exacerbate the resentment of FN voters. How, indeed, can we accept that a political party that collects nearly 20% of the votes in the presidential elections has only two representatives in the National Assembly (Marion Maréchal and Gilbert Collard)?

The French left, in the great tradition of left-wing policies, does not understand this and loudly proclaims, on the evening of this first round, that it will form the republican front by urging its voters to vote for a UMP or UDI candidate in the event of a tripartite. This is a historical error! Indeed, there is no need to infantilize voters who can very well decide on their own for whom to vote. Moreover, it denies FN voters the content and responsibility of their choice. Yes, some voters are seduced by the demagogic and dangerous theses of the FN, and traditional parties would do much better to improve their governance and results on the ground rather than forming an anti-democratic republican barrier.

However, the UMP, through its former president, marked a right turn by breaking the republican pact and instituting the “neither-nor” policy. Neither socialist nor frontist. By doing so, the French right accepts the choice of the voter and takes the risk of leaving power to the Frontist candidates, which is the least mark of respect in democracy.

In Belgium, the PS is no more visionary than the French PS

In Belgium, we cannot speak of a republican front but rather of a particratic coalition. Our traditional parties agree to form what they call (not without a disdainful concupiscence), the “sanitary cordon“, nothing less, excuse the term!

Yesterday at the PS congress in Ixelles…Mr. Elio di Rupo already stated that the PS would never govern with the N-VA, that is, with a separatist party. In doing so, the Belgian PS makes exactly the same mistake as its cousin from across the Quiévrain.

How can one not understand that this irresponsible statement by a prime minister will only exacerbate the sympathizers of the N-VA?

Whether Mr. di Rupo likes it or not, he will one day be forced to govern with the N-VA, which, as long as it does not access responsibilities, will inexorably strengthen until it takes power.

But how can democracy be conceived in a country that has 60% Flemish voters, 40% of whom vote N-VA, and is governed by a PS prime minister who relegates them to the rank of pariahs of democracy?

In our opinion, the definition of democracy is to call to responsibility the parties that have been favored by the votes so that the voters can first have the satisfaction of seeing their choices respected (which is the least one can do if one wants to fight abstention) and then measure the quality of the policy implemented by the favored party.

You want to buy a house or an apartment or carry out work in your home. The ideal solution is obviously to take out a loan or a mortgage.

Would you like to know how many years it will take you to repay your mortgage?

This is, of course, an important parameter both for your banker who must assess the risk and for you who must determine the final cost of your investment.

Let’s take a look at this fundamental question that will influence your budget for a significant period of your life.

A mortgage? For what purpose?

In general, people assume that taking out a mortgage is only for buying a house or an apartment. On the contrary, with a mortgage, you can finance many other investments such as:

What are the different possible durations?

You can repay your loan or mortgage over a period of 10 to 30 years. In the past, the duration was generally 15 to 20 years, but with the aging population, banks are increasingly accepting loans that can last up to 30 years.

The principle

When considering the duration of a mortgage, there are two parameters to take into account:

  • The risk taken by the lending banker;
  • The total amount of interest you will repay.

It is obvious that the longer the duration of your mortgage, the greater the risk of insolvency for your banker, and the higher the amount of interest paid at maturity.

Can the borrower negotiate a reduced interest rate for a longer loan duration?

It is obvious that if you borrow for a period of 30 years, your interest rate will be higher because you are asking your bank to take on additional risk.

However, if your solvency guarantees are solid, your bank may grant you a reduction in the interest rate if you make a motivated request.

Knowing the cost of your mortgage?

We invite you to use our loan simulator to know the different formulas applicable to your next mortgage.

Do not hesitate to contact our brokers. Mrs. Jacqueline LEGRAND is our mortgage specialist for over 20 years. She can find the product that meets your expectations and your budget.

Fixed rate or variable rate?

Currently, and in the long term, specialists and analysts expect interest rates to rise.

We therefore recommend a fixed rate. These rates range from 3 to 4%, which is very low.

Mortgage for seniors

Previously, after the age of 50, you could no longer find a bank willing to grant you a mortgage.

Currently, and due to increased life expectancy, you can still take out a mortgage up to the age of 60 for a period of 15 years.

It will, of course, depend on the amount borrowed and the guarantees offered.

If the loan is co-signed by future heirs, there is no obstacle to the mortgage duration being much longer.

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.

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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.

credit contractThe 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.

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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.

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credit application

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!

credit application

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.