Consumer credit: what to do in case of repayment difficulties?

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

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

Starting on 1er If you have a payment incident, the lender must inform you of the risks you incur.

If you cannot pay your monthly credit repayment, the lender can demand immediate repayment of the principal outstanding, with interest due. They may also claim compensation from you to cover the damage they have suffered.

The lender can grant you a term extension, at most twice a year.

In the event of temporary financial difficulty or a lasting drop in your income, the lender may also grant you, subject to conditions, a deferral of part or all of one or more monthly installments.