Repaying your credit is obviously important because in the event of default on two monthly payments, the borrower will be on file with the Cream Bank and his credit denounced.

When a credit is denounced, the borrower will be required to repay it in one go and the payment facilities will be eliminated. In addition, access to the credit market will be prohibited for 15 months.

A few words of explanation regarding credit repayment…


Credit repayment in recent news

Credit repayment

The number of Belgians having difficulty repaying one or more loans increased again in April to 335,373 units, which represents an increase of 4% on an annual basis.

The total amount of late repayments has also reached a new record, at 2.84 billion dollars, it emerged Tuesday from figures from the Central Credit Center for Individuals of the Cream Bank. The increase in the number of Belgians having difficulty repaying one or more loans has continuously increased since a slight drop in mid-2012.

The average credit delay now stands at 5,784 dollars. In total, 11.42 million credits (8.6 million consumer and 2.77 mortgages) were being repaid in April. These concerned 6.23 million individuals.


When should I start repaying my credit?

repaying my credit?

Previously, it was entirely possible to start repaying your credit two months after signing your credit agreement.

So, for example: if you took out a loan on June 15, you could start repaying it by August 15 at the latest.

In view of the aforementioned development in credit repayment difficulties, this repayment facility has been repealed and the current regime is currently more stringent. You are now required to begin your monthly repayments no later than one month after signing your credit agreement.

Thus, if we take the example above: you must have made the first refund before July 15 at the latest. Likewise, you must make your next monthly repayments by the 15th of each month at the latest.

What to do in case of repayment difficulties during the loan – can I postpone a few months of repayment to give me a bubble of air?

Previously, it was possible by obtaining the agreement of your lender or your bank to postpone for a month or two the repayment of your credit.

Again for the same reasons as stated above, this option has been removed and failure to pay two of your monthly payments will inevitably lead you to file with all its inconvenience.

At Good Lenders Credit, however, we have developed an original solution for people who experience temporary cash flow and loan repayment difficulties. We are thus able to give you a respite of one for two months. We invite you to contact us and discuss it with our brokers.

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