General conditions

Discover our General Terms and Conditions to learn everything about your rights and obligations when subscribing to a loan or insurance with Cpe-credit.com.

Article 1 – Processing of Personal Data

The following files are consulted when reviewing a credit application:

Central Individual Credit Register (CICR), Boulevard de Berlaimont 14, 1000 Brussels.

Unregulated records (ENR), Boulevard de Berlaimont 14, 1000 Brussels.

CREDIT POPULAIRE EUROPEEN BV, Rue de la Paix 10, 7030 Saint-Symphorien.

CREDIT POPULAIRE EUROPEEN BV collects personal data solely for the purpose of granting or managing loans, in accordance with the law of 8 December 1992 on the protection of privacy. It does not use this data for commercial prospecting. It may transmit consumer data to a life insurer, but not for direct marketing purposes. To obtain information about the consumer’s financial situation and creditworthiness, the lender consults the CICR before entering into a consumer credit agreement. Each year, the lender reassesses the consumer’s creditworthiness by consulting the CICR again. As part of this process, we request the consumer’s national register number.

In accordance with Article VII.148 and subsequent articles of Chapter 3, Book VII of the Code of Economic Law, this contract is registered with the Central Individual Credit Register. This registration aims to prevent over-indebtedness by providing lenders with information about ongoing loans and any defaults.

The CICR registers the following data:

1. The identity of the consumer, the lender, and, where applicable, the assignee and guarantor;
2. The credit contract reference numbers;
3. The type of credit;
4. The characteristics of the credit contract that determine the outstanding balance and its evolution;
5. Where applicable, the reason for the default as reported by the consumer;
6. Where applicable, any payment facilities granted to the consumer.

The main objective of processing personal data through the CICR is to combat consumer over-indebtedness. To that end, the CICR:

• Centralizes data on consumer and mortgage loans;
• Transmits relevant information to lenders, who are required to consult the CICR before entering into a credit agreement, to assess the borrower’s financial situation and creditworthiness (Article VII.77 CEL);
• Processes this data for statistical purposes.

Personal data is protected under the provisions of Book VII of the Code of Economic Law and the residual application of the Law of 8 December 1992 on the protection of privacy in relation to personal data processing.

The CICR consists of two sections, each with a different retention period:

a) The Positive Section

The Central Register retains the data for three months and eight working days after the end of the credit agreement, provided that the parties have fulfilled their mutual obligations. In the event of early repayment or termination of the credit agreement, provided that no new borrowing is possible after repayment, the lender informs the CICR within two working days. The data is retained until the date of this notification. The Central Register deletes the data after the expiry of the mentioned period. Note: a default may have serious consequences and extend the retention period (see the “Negative Section”).

b) The Negative Section

In the event of regularization, the Central Register retains the data for twelve months from the date the contract is regularized. If not regularized, the data is kept for ten years from the first default, regardless of any later regularization. If another default occurs after this period, a new ten-year period begins. The Central Register deletes the data once these deadlines have expired. Upon first registration in the negative section, the National Bank of Belgium notifies the consumer.

In accordance with procedures set by Royal Decree, consumers and guarantors have free access to the data registered in their name and can request, at no cost, the correction of any incorrect data.

When a consumer requests a correction, the Bank forwards the request to the person referred to in Article VII.149 who provided the data and guarantees its accuracy. If necessary, this person will ask the CICR to amend the registered data.

If a correction is made, the Bank also notifies those who previously accessed this data from the CICR, as designated by the registered individual.

This personal right of access may be exercised in three ways:

• Online, using your electronic identity card.
• By post, with a double-sided copy of your identity card, addressed to:
  • National Bank of Belgium
    Central Individual Credit Register
    Boulevard de Berlaimont 14
    1000 Brussels
• In person at the National Bank offices, upon presentation of your ID:
  • NBB Antwerp, Leopoldplaats 8, 2000 Antwerp
  • BNB Mons, Avenue Frère Orban 26, 7000 Mons
  • BNB Brussels, Boulevard de Berlaimont 14, 1000 Brussels
  • NBB Hasselt, Eurostraat 4, 3500 Hasselt
  • NBB Kortrijk, President Kennedypark 43, 8500 Kortrijk
  • BNB Liège, Place Saint-Paul 12-16, 4000 Liège

Opening hours: Monday to Friday, 8:45 a.m. – 3:30 p.m.

Any request for correction or deletion of inaccurate data must be accompanied by a document justifying the legitimacy of the request.

If an irregularity is found, you may contact the following free of charge:

1. The Data Protection Authority (DPA):
   Send a dated and signed letter to:
   Data Protection Authority,
   Rue de la Presse 35, 1000 Brussels,
   including your complaint and any documents needed for review.
2. FPS Economy – Directorate General of Economic Inspection:
   Contact online, by fax or mail:
   Online complaint link
   FPS Economy, SMEs, Self-employed and Energy – Economic Inspection, NG III, 3rd floor
   Boulevard Albert II 16, 1000 Brussels
   Tel: 02 277 54 85
   Fax: 02 277 54 52
   Email: eco.inspec.fo@economie.fgov.be
3. Crédit Populaire Européen:
   Send a dated and signed registered letter to:
   Crédit Populaire Européen BV, Rue de la Paix 10, 7030 Saint-Symphorien.

Consumers who were not residing in Belgium at the time of signing the credit agreement are informed that their defaults will not be registered in the CICR of the National Bank of Belgium, but rather in the unregulated records (ENR) file. Consumers have free access to their registered data and may request correction or deletion, free of charge, by including a legible double-sided copy of their identity card (or residence permit or passport) and any document justifying their request.

Article 2 – Conclusion of the Contract

Crédit Populaire Européen BV is the lender. According to Article I.9 of the Code of Economic Law, a lender is defined as any natural or legal person who grants credit in the course of their commercial or professional activities, excluding any person who offers or concludes a credit agreement that is immediately assigned or subrogated to an authorized or registered lender designated in the contract.

Payments made by the consumer must be addressed exclusively to the lender. Once the contract is signed, the lender is the sole point of contact for any questions or clarifications regarding the credit contract. All information or correspondence is exchanged between the lender and the consumer (and, if applicable, the guarantor). Only payments made to Crédit Populaire Européen BV validly discharge the consumer from their obligations under the credit contract.

Article VII.78, §2 of the Code of Economic Law requires the lender to disclose all intermediaries who contributed to the conclusion of the credit agreement.

The credit broker is a credit intermediary who is not a tied agent.

This refers to a natural or legal person who does not act as a lender and who, in the course of their commercial or professional activities, for monetary or other agreed economic compensation:

1. a) presents or offers credit agreements to consumers;
2. b) assists consumers with preparatory work, other than what is mentioned in the previous point, for credit agreements;
3. c) concludes credit agreements with consumers on behalf of the lender. This also includes persons who offer or grant credit agreements that are immediately assigned or subrogated to another authorized or registered lender designated in the contract.

The sub-agent acts in the name and under the full and unconditional responsibility of the credit broker.

The credit agreement is concluded once it is signed by all parties.

Consumers are jointly and severally liable to Crédit Populaire Européen BV for all obligations arising from the contract and its non-fulfillment, subject to Article VII.109, Title 4, Book VII of the Code of Economic Law. If the borrowers are married, both spouses must give their consent in all cases provided by law, in particular under Article 1414, 2° d) and e) of the Civil Code.

Consumers agree to repay the borrowed amount, plus the total cost, in accordance with the terms of this contract and the attached amortization schedule. The consumer has the right, upon simple request and free of charge, at any time during the contract, to receive the amortization schedule of the loan. This request must be sent by registered mail.

In these general terms and conditions, the term “consumer” refers, where applicable, to all concerned consumers.

Article 3 – Right of Withdrawal

The consumer has the right to withdraw from the credit agreement without having to justify the reason, within a period of fourteen days starting from:

• the first day on which the credit agreement was concluded, or
• the second day following receipt of the contractual terms and the information referred to in Article VII.78 of the Code of Economic Law, if this date is later than the previous one.

The consumer must notify the lender (Crédit Populaire Européen BV, Rue de la Paix 10, 7030 Saint-Symphorien) by registered letter. The fourteen-day period is considered respected if the notification was sent before it expired.

When exercising this right, the consumer must simultaneously repay the borrowed amount, no later than thirty calendar days after informing the lender of the withdrawal. Interest is calculated based on the agreed borrowing rate (see page 1 of the contract). In case of withdrawal, the interest amounts to 0 euros per day. Any payments made after the contract was concluded must be refunded to the consumer within thirty days of the withdrawal.

The lender may not claim any additional compensation from the consumer, except for any non-refundable charges paid by the lender to a public authority.

The withdrawal from the credit agreement automatically terminates any ancillary contracts.

If the consumer withdraws from a goods or services supply contract, they are no longer bound by the related credit agreement.

If the goods or services covered by a linked credit contract are not delivered, are partially delivered, or do not comply with the supply contract, the consumer may, in order to enforce the contract, take action against the lender, provided that:

•  1° the consumer did not receive satisfaction within one month of sending a registered letter to the supplier or service provider;
•  2° the consumer has informed the lender that, failing satisfaction from the supplier or service provider as mentioned above, they will deposit the remaining instalments into a blocked account.

Article 4 – Conditions for Making Credit Available

The credit amount is transferred by bank transfer to the consumer’s account no. ………………………………………., as provided by the borrower, as soon as all conditions precedent are fulfilled and the required guarantees are in place. The credit may also be used, if necessary, to finance the insurance chosen by the consumer and/or the consumer’s outstanding loans.

Crédit Populaire Européen BV undertakes to make the funds available to the consumer(s) in a single payment from the date of signing this credit agreement, as soon as all conditions precedent are fulfilled and the required guarantees have been obtained. Disbursement of the borrowed amount to any consumer mentioned in the credit agreement fully discharges the lender from its obligations.

If the credit agreement is used to finance a specific good or service, the lender is discharged from its obligations by disbursing the borrowed amount to the seller or service provider, after being informed by a dated and signed document from the consumer confirming delivery or service. By paying the amount due to the seller, the lender is subrogated to the seller’s rights and claims, particularly (but not exclusively) the seller’s unpaid privilege and any retention of title clause provided in the sales contract. The seller may only be designated by the consumer, not by the lender.

Article 5 – Repayment Schedule

The first monthly instalment is due one month after the funds have been made available (see page 1 of the contract). The following instalments are payable on the same day of the subsequent months.

The instalments must be transferred to the bank account BE…………………………… of Crédit Populaire Européen BV via a standing order. Payments made to third parties do not validly discharge the consumer from their obligations.

Article 6 – Payment Default

A default in payment can have serious consequences (e.g., forced sale) and may prevent the consumer from obtaining new credit. In case of late payment that does not lead to termination or immediate enforceability, the following amounts are due:

• the matured and unpaid principal amount;
• the unpaid total credit costs that have become due;
• the agreed default interest, calculated at the borrowing rate increased by 10%, on the matured and unpaid principal;
• reminder and formal notice fees, limited to one mailing per month per consumer, assessed at a flat rate of €7.50 per letter plus applicable postage costs at the time of sending.

If the consumer has failed to pay at least two instalments or an amount equal to 20% of the total amount repayable, and fails to meet their obligations one month after a formal notice sent by registered letter, or if they dispose of movable property before payment or use it in breach of the contract while the lender has retained ownership, the lender has the right to terminate the credit agreement automatically.

And demand immediate payment of the following amounts:

• the outstanding balance;
• the unpaid total credit costs that have become due;
• the agreed default interest, i.e., the borrowing rate increased by 10%, on the matured and unpaid capital;
• a compensation calculated on the outstanding balance:
  • 10% on the portion up to €7,500;
  • 5% on the portion exceeding €7,500.

The consumer acknowledges being informed that the judge may annul the credit contract to the consumer’s detriment if they fail to provide the lender with accurate and complete information necessary to assess their financial situation, repayment capacity, and ongoing financial obligations.

Article 7 – Termination of the Contract

The consumer may terminate the credit agreement at any time through early repayment (see Article 8).

Article 8 – Early Repayment

The consumer may repay the loan, in whole or in part, at any time before the due date. They must inform the lender by registered letter at least ten days before the repayment.

In the case of total or partial early repayment, the consumer must pay a fee equal to:

• 1% of the amount repaid early, if the time between early repayment and the agreed end date of the contract exceeds one year;
• 0.5% of the amount repaid early, if this period does not exceed one year.

The lender informs the consumer

The lender must inform the consumer of the compensation amount on a durable medium, within ten days of receiving the early repayment notification. This notice must include the calculation of the fee.

This compensation may never exceed the interest the consumer would have paid between the early repayment date and the originally agreed end date of the credit contract.

The repayment—full or partial—is first applied to the amounts due (late interest, due instalments) and to any reinvestment compensation. The remaining amount is applied to the principal still outstanding at the date of payment.

No reinvestment compensation is due if, under Articles VII.194, VII.195, VII.196, VII.200 or VII.201 of Book VII of the Code of Economic Law, the consumer’s obligations are reduced to the cash price or borrowed amount, or in the case of repayment made under an insurance policy contractually guaranteeing the repayment of the credit.

Under Article VII.98, §2 of the Code of Economic Law, in the case of proven serious negligence (fraud, forgery, breach of trust, etc.), the lender may invoke non-performance as a reason to suspend its obligations and refuse to disburse funds until a court decision is made regarding the termination request.

Article 9 – Addresses

All notices relating to this contract must be addressed, as appropriate, either to the registered office of Crédit Populaire Européen BV, to the consumer’s address listed in this contract, or to their last known address.

The consumer undertakes to immediately inform the lender of any change of address and/or employer.

Article 10 – Assignment of Claims

As security for their obligations under this contract, the consumer assigns to the lender all present and future claims against third parties, in particular the proceeds from the sale of movable or immovable property, social security benefits, accident compensations, rents, lease payments, bank deposits, savings accounts, and postal checks, without this list being exhaustive.

The assignment of the assignable and seizable part of remuneration under the Law of April 12, 1965, as well as pensions, allowances, and compensations referred to in Article 1410, §1 of the Judicial Code, is governed by a separate legal act.

Article 11 – Assignment – Subrogation

Without prejudice to Articles VII.102, VII.103 and VII.104 of Book VII of the Code of Economic Law, the lender reserves the right to assign all or part of its rights or to allow a third party to substitute it, in whole or in part.

Article 12 – Power of Attorney

Consumers grant each other mutual power of attorney to issue or receive any notice or formal demand in the context of this contract.

Article 13 – Evidence of the Credit Agreement

The parties expressly agree that the digital copy of the signed contract has the same evidential value as an original paper copy.

Article 14 – Reciprocity of Penalty Clauses

The penalty clauses and fees mentioned in this contract are reciprocal in the event of a breach by either the lender or the consumer of their respective obligations.

Article 15 – Governing Law

This contract is governed by Belgian law, particularly Chapter 1 of Title 4 of Book VII of the Code of Economic Law. Consumers who, at the time of signing the contract, have their habitual residence abroad, expressly opt for the application of Belgian law. The consumer declares that the credit application was submitted in Belgium.

Article 16 – Complaints Procedure

The consumer may submit a written complaint to the lender’s complaints department (Crédit Populaire Européen BV, Rue de la Paix 10, 7030 Saint-Symphorien).

If the consumer is unable to resolve the dispute with the lender, they may contact the following free of charge:

• Ombudsfin, Rue Belliard 15-17, box 8, 1040 Brussels
  Tel.: +32 2 545 77 70
  Fax: +32 2 545 77 79
  Email: Ombudsman@ombudsfin.be
• FPS Economy, SMEs, Self-Employed and Energy – Directorate General for Economic Inspection
  North Gate III, Boulevard Albert II 16, 1000 Brussels
  Fax: 02 277 54 52
  Email: eco.inspec.fo@economie.fgov.be

Consumers can download a complaint form via statbel.fgov.be or submit a complaint directly on economie.fgov.be.

A request for out-of-court settlement of a consumer dispute can also be submitted to the Consumer Mediation Service by mail, fax, email, or in person at the above addresses.

Article 17 – Supervisory Authority

FPS Economy, SMEs, Self-Employed and Energy – Directorate General for Economic Inspection – North Gate III, Boulevard Albert II 16, 1000 Brussels.

Article 18 – Anti-Money Laundering Provision

This contract shall be terminated by the court at the consumer’s expense if it is found that the consumer fails to comply with the conditions imposed by the Law of January 11, 1993, on the prevention of the use of the financial system for money laundering and terrorist financing.

Termination of this contract implies that the parties must return to the situation in which they were before the contract was concluded.

Article 19 – Central Contact Point

Article 322, §3 of the Income Tax Code, introduced by the Law of April 14, 2011 (amended by the Laws of December 28, 2011 and March 29, 2012), requires banks, savings institutions, and credit institutions active in Belgium to report annually certain data about their clients and some of their accounts or contracts to a Central Contact Point (CCP).

This CCP is managed by the National Bank of Belgium (NBB), located at Boulevard de Berlaimont 14, 1000 Brussels. It enables tax officials responsible for collection and inspection to verify, under certain conditions and legal procedures, with which financial institutions taxpayers hold accounts or contracts, in order to request further information.

Specifically for credits, this obligation applies to credits granted from January 1, 2014.

Consumers have the right to consult the data recorded by the CCP in their name with the NBB. If this data is incorrect or wrongly recorded, they have the right to request its correction or deletion through the financial institution that transmitted the data to the CCP.

The CCP retains data for a maximum period of eight years from:

• 1) the end of the last calendar year in which data was transmitted for identification purposes;
• 2) the end of the calendar year in which the contract was terminated, for contract-related data.

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