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Consumer credit: what is the right of withdrawal?

Verified 24 July 2019 - Directorate for Legal and Administrative Information (Prime Minister)

Personal loan

After signing a loan contract, you have the opportunity to exercise the right of withdrawal within 14 calendar days from the date of signature. This results in the freezing of the contract already signed during the period for exercising the right of withdrawal. The lender will not be able to make the funds available to you before the expiry of the period for exercising the right of withdrawal.

Contract Confirmation

If you have not exercised your right of withdrawal within the 14 calendar days after the date of signature of the contract, it becomes final. You must then repay the credit in the manner specified in the contract.

Contract Waiver

To exercise your right of withdrawal, you must complete the detachable withdrawal form attached to your contract.

Complete and sign this form, then send it to the lending institution (bank, credit institution...) by registered mail with acknowledgement of receipt. You will find his details on the back of the detachable form.

You have 14 calendar days. from the day of signature of the contract to perform this step.

Allocated Credit

After signing a loan contract, you have the opportunity to exercise the right of withdrawal within 14 calendar days from the date of signature. This results in the freezing of the contract already signed during this period. If it is a allotted credit (linked to a specific purchase), the seller cannot deliver the goods to you or start the service before the end of the withdrawal period.

Contract Confirmation

The seller will deliver the goods or perform the service at the end of the withdrawal period.

However, you can request a reduction of this withdrawal period and therefore be delivered immediately (or benefit immediately from the service).

You must then write specific details by hand on the sales contract.

Mentions to be indicated in case of purchase of a property with a credit to be delivered immediately

The new withdrawal period must be between 3 and 14 calendar days after the day of signature of the credit agreement.

Once the goods have been delivered (or the service has been performed), you will not be able to withdraw and you will be charged by your credit.

Contract Waiver

To exercise your right of withdrawal, you must complete the detachable withdrawal form attached to your contract. If you forego your credit, the purchase of property or the benefit to which the credit was intended will also be canceled.

In addition, if the seller has imposed a deposit on you, you must also reclaim your deposit.

Claim a down payment to the seller if you renounce the assigned credit within 14 days