Debt Consolidation: Unify Your Loans and Breathe Easier

Debt consolidation is a financial operation that consists of combining all your existing loans (car loan, personal loan, revolving credit, etc.) into one single new loan.

The main goals are:

• Simplification: Managing a single monthly payment on a fixed date instead of several.
• Relief: Reducing the monthly burden of your repayments by adjusting the term of the new loan, to give you some financial breathing room.
• Optimization: Benefiting from a single interest rate, potentially more attractive than those of some of your old loans.
• Planning: Including the financing for a new project (renovations, car) directly into the operation, without taking out an additional loan.

In short, debt consolidation aims to clarify your finances, lighten your budget, and adapt your repayments to your current situation.

The process at CPE Crédit is simple and transparent:

1. Simulate online: Our tool gives you an initial estimate in less than a minute. It’s free and non-binding.
2. Submit your application: If the simulation interests you, complete the online form.
3. Talk to an advisor: An expert will contact you to refine your project and list the necessary documents.
4. Send your documents: Securely transmit your supporting documents to us.
5. Receive your offer: After analysis, we send you a clear contract offer with the standardized information sheet (SECCI).
6. Sign the contract: If the offer suits you, you sign it. You have a legal 14-day withdrawal period.
7. We take care of everything: We repay your old creditors. If you requested additional cash, it is transferred to you.

The cost of a consolidation depends on several factors:

• The APR (Annual Percentage Rate): This is the total cost of your credit. It includes the interest rate and all fees.
• The repayment term: A longer term reduces the monthly payment but can increase the total cost of the credit.
• Application fees: At CPE Crédit, these are often waived for online applications. If applicable, they are included in the APR and clearly stated.
• Early repayment penalties: Your old credit providers may claim these. They are capped by law, and we generally include them in the financing.

Our simulator gives you a clear initial estimate, and the final offer details all costs. The goal is to find the best balance for your budget.

The APR (Annual Percentage Rate) is the most important indicator for understanding the cost of your credit. It is expressed as an annual percentage of the amount you borrow.

Its role is crucial because:

• It’s all-inclusive: The APR is not limited to the interest rate. It includes all mandatory fees associated with obtaining the credit, such as application fees. It represents the real, final cost.
• It’s a universal comparison tool: The law requires all lenders to calculate it the same way. This allows you to objectively compare two offers: for the same amount and term, the credit with the lower APR is the cheaper one.

In short, to make an informed choice, always rely on the APR rather than a simple promotional rate.

For a consumer debt consolidation, insurance is generally not legally required. However, it is strongly recommended and may be required by the lender for certain files (e.g., large amounts).

Outstanding balance insurance is the most common type. It protects your family by covering the loan repayment in the event of death or disability. It’s essential security for you and your loved ones.

Your CPE Crédit advisor will transparently explain whether insurance is optional or required in your case and will present you with the best options for your protection.

Yes, absolutely. The law protects you by granting you a legal right of withdrawal (also known as a cooling-off period).

Here’s what that means in practice:

• Timeframe: You have 14 calendar days from the date you sign your contract to change your mind.
• Simplicity: You do not need to provide a reason, and this cancellation is free of any penalties.
• Procedure: You simply need to inform us of your decision in writing (a registered letter is recommended to have proof of the sending date).
• Important: If the funds have already been used (for example, to repay your old loans), you will have to reimburse the sums paid out by CPE Crédit.

This right gives you extra time to think, ensuring you can commit with complete peace of mind.

The SECCI (Standard European Consumer Credit Information) is the “ID card” of your consumer credit offer. For a mortgage, its equivalent is the ESIS (European Standardised Information Sheet).

This document is essential for your protection. It must be given to you before you sign anything. Its format is standardized across Europe to allow you to:

• Understand the offer in detail: It summarizes all the conditions: the APR, the amount of the monthly payments, the term, the total cost, insurance conditions, etc.
• Compare easily: Thanks to its uniform format, you can objectively compare offers from different financial institutions.

Never sign a credit offer without having read and understood this document. It ensures transparency and helps you make the best decision.

If you anticipate or encounter repayment difficulties, the most important thing to do is to not wait and contact us immediately.

Communication is key. By notifying us in advance, we can work together to find solutions adapted to your temporary situation, such as:

• A one-time deferral of a payment, if your contract allows for it.
• An analysis for a possible restructuring if the difficulties prove to be more long-lasting.

Ignoring the situation leads to serious consequences: late fees, formal notices, and eventually, a negative credit file with the National Bank, which will complicate all your future financial projects. Anticipation and dialogue are your best allies.

A well-managed debt consolidation has an overall positive impact on your financial profile and your file at the National Bank of Belgium (NBB).

• In the short term: A check of your NBB file will be performed, which is a normal step. Your old loans will be paid off, and a new, single contract will be registered. This is not a negative mark.
• In the long term: This is where the benefits appear. By making a single payment on time, you build a solid and positive repayment history. Furthermore, by reducing your debt-to-income ratio, you improve how lenders perceive your file.

In short, consolidation is a proactive step to clean up and strengthen your financial situation. It’s a sign of good management that, over time, is very favorable to your credit score.

This is a complex question, and the answer depends on your situation.

• Professional debts: In a standard consumer debt consolidation, it is generally difficult to include purely professional debts. Specific solutions exist for the self-employed, which require a case-by-case analysis.
• Tax and social debts (VAT, income tax, social security contributions): Including them is very rare and subject to very strict conditions. Lenders are often reluctant because the state is a priority creditor.
• Solution for homeowners: If you are a homeowner, a debt consolidation with a mortgage guarantee may offer more flexibility to include this type of debt, after a thorough review.

The best approach is to discuss it transparently with your CPE Crédit advisor. They can tell you what is feasible in your specific situation.

The timeframe depends on the complexity of your file and the type of consolidation.

• For a consumer debt consolidation (without a mortgage): The process is quick. Once we have received all your documents, it takes an average of 5 to 15 business days for everything to be finalized (analysis, offer, signature, and repayment of your old loans). Your responsiveness in providing the documents plays a big part!
• For a consolidation with a mortgage guarantee: The process is longer because it requires a property appraisal and a visit to a notary. You should generally expect between 4 and 8 weeks.

At CPE Crédit, we are committed to processing your file as efficiently as possible while respecting all legal steps.

A negative listing with the National Bank of Belgium (NBB) makes the operation more complicated, but not necessarily impossible.

Feasibility will mainly depend on your overall situation:

• If you are a homeowner: This is the most favorable scenario. A consolidation solution with a mortgage guarantee can be considered. The goal is then to use the value of your property to clear all your debts and start fresh on a sound basis.
• If you are a tenant: Obtaining a consolidation while having a negative credit file is extremely difficult, as lenders have few guarantees.

In any case, transparency is key. Contact us to openly discuss your situation. We will analyze your file to see if a solution is possible, especially if you are a homeowner.

This is an essential point to understand. Debt consolidation often involves a trade-off between monthly comfort and overall cost.

• Lower monthly payment through a longer term: To reduce your monthly payments, the most common solution is to spread the repayment of the total amount over a longer period.
• Impact on the total cost: Mechanically, a longer term means more interest paid in total. Therefore, a consolidation that extends the repayment term often increases the total cost of your credit.

It’s a matter of balance. The goal is to regain the ability to live and save each month. Our role as advisors is to present this trade-off to you transparently, finding the best compromise between a sustainable monthly payment and a manageable total cost.