Consumer credit: assigned credit

Verified 25 May 2021 - Directorate for Legal and Administrative Information (Prime Minister)

The appropriation is a loan used to purchase a specific good or service. For example, the purchase of movable property (furniture, car) or services (holiday rentals, repair work). The assigned credit is granted by a credit institution or bank, even if it is often taken out directly at the place of sale. It is a consumer credit and the creditor of the credit assigned must comply with the rules of the consumer credit agreement.

The appropriation is tied to a specific purchase: a good or service. For example, a car loan or a loan to finance a television or a trip.

The credit obtained must be used solely to pay for the property or defined benefit. If the sales contract does not take place (e.g. if you withdraw from the contract), the cancelation of the credit agreement will be automatic, even if the institution has agreed to grant it to you.

You cannot use the credit to purchase another good or service.

The assigned credit is granted and managed by a bank or credit institution.

Generally, the purchase itself and the credit application are made during the same transaction. The steps are then taken directly at the place of sale, or on the same website in the case of a remote purchase.

The appropriation allocated must comply with the consumer credit rules.

So the lending institution needs to start with an information phase, during which it needs to check your financial capacity, to know if you are able to repay the loan. When shopping remotely, some sellers offer an immediate review of your situation online or over the phone.

If your credit application is accepted, the lender will provide you with their credit offer. The offer must specify the property (or service) to be financed and its spot price. You should also receive a document that clearly states the following:


the sales contract must allow you to forgo the purchase if you do not get the credit.

If you accept the offer and sign the credit agreement, you have a withdrawal period of 14 calendar days after signing to renege on your commitment.

The seller must not deliver the goods or start the service before the end of this withdrawal period.

However, if you request it in writing, the seller can make the delivery of the goods or the supply of services immediately or within a period shorter than the 14 calendar days. We're talking about shortened period.

When the seller delivers the goods or the service within a short period of time, your right of withdrawal expires on the date of delivery or the service.

When the seller makes the delivery of the goods or the provision of services immediately, you must exercise your right of withdrawal within 3 calendar days.

You can use the form provided with your credit agreement or mail template:

Withdrawal of consumer credit

If the assigned credit agreement is not implemented, the contract of sale or provision of services shall be canceled at no cost to the borrower.

This situation occurs in the following cases:

  • The credit application is refused
  • You did not notify the seller of the credit within 7 days of your acceptance of the contract
  • You have exercised your right of withdrawal within the deadline


in the event of cancelation of the sale for refusal of credit or withdrawal of the borrower, the seller cannot claim payment of penalties.

The total amount of the credit must be between €200 and €75,000.

The credit must be granted for a period longer than 3 months.

You will therefore have to pay at least 3 monthly installments.

You start to refund only from the delivery of the goods or the provision of the service.

No final payment may be required before the signature of the credit offer and before the expiry of the withdrawal period following the conclusion of the credit agreement.

Please note

the seller may, however to charge a deposit to order to reserve the property. He will have to repay it in case of withdrawal or if the credit is refused.

If you have trouble paying back your monthly consumer credit, you can do the following:

  • Ask your insurer to pay monthly payments on your behalf, if you have taken out insurance for the credit, and if your difficulties arise from one of the circumstances provided for in the insurance contract (for example, sickness, disability, loss of employment)
  • Ask the financial institution that gave you the credit for any extension or delay in payment. The lender is not obliged to grant you these facilities.
  • Ask the judge for a grace period, i.e. a suspension of repayments for a period of up to 2 years, without surcharges or penalties for delay. You will have to build a file with the documents that attest to your difficulties (resources, charges and reimbursements in progress in particular) and bring your home before the competent court.
  • Drop a over-indebtedness record, if your difficulties are significant and lasting

If the bank or financial institution starts to collect the monthly installments before the delivery of the purchased product, you can ask them to stop by sending them a registered letter with notice of receipt.

You can use the following letter template:

Require time-to-pay to stop picking before delivering a credit item