What is the denunciation of your credit?

Have you recently signed a credit agreement? Whether it is a mortgage loan or a consumer loan. The signing of this contract gives rise to obligations on your part, the non-observance of which can lead to unfortunate consequences (such as a credit denunciation). In this article, we take stock of the consequences of a filing at the Cream Bank as well as the practical solutions that can be implemented in order to get you out of this impasse.


Obligations linked to the signing of a credit agreement

Obligations linked to the signing of a credit agreement

As soon as you have signed a credit, the credit company has the obligation to pay you the amount borrowed from your current account. Note that for obvious security reasons, you will never receive money from hand to hand.

For its part, the borrower has the obligation to repay the credit, that is to say, the amount borrowed plus interest at the agreed rate as well as 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 have to start repaying your credit within one month of signing your contract and no later than one month after signing.

Credit companies have the obligation to register your credit contract at the Central Credit Office for individuals of the Cream Bank .


Consequences of a default

In the event of default of payment of your credit after two monthly payments, the credit company has the obligation to denounce your credit to the Central of the credits to the individuals and to proceed to your filing at the Cream Bank .

This has several consequences:

  • You will be obliged to repay your credit immediately plus interest and fees;
  • You will be kept at the Cream Bank until you have repaid your credit, interest and all costs.
  • You will remain on file for another year after you have repaid the credit, interest and fees.
  • You will no longer have access to the credit market for this entire period.


What are the solutions in case of payment difficulties?

payment difficulties?

Don’t 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 try to buy back credit to increase the duration of your repayments and thus decrease your monthly premium;
  • In the event of pluralities of credits, we can attempt a consolidation of credit in order to reduce your overall monthly premium.


Is there a possibility of borrowing in the event of filing at the Cream Bank ?

borrow money

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

However, there is a solution via owner credit.

Homeowner credit is a mortgage loan.


Under what conditions can I take out an owner loan?

money loans

You can make an owner credit under the following conditions:

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

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