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277,682 Bad Loan Payers: How to Avoid Being Blacklisted? What are the consequences?

  • Post category:Economy News
  • Reading time:5 mins read

Guide-savings.beThe number of people who can no longer repay their loans is on the rise again. At the end of October, 277,682 names were already on the ‘black list’ with the National Bank. What are the consequences? And what can you do to avoid them? Below, Guide-epargne.be gives you some advice.


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Last update:
16:32

Due to the considerable increase in the cost of living, many people are experiencing financial difficulties. More and more households are no longer able to make ends meet. Consequently, their bills remain unpaid.

This also applies to loan repayments. However, non-payment can have serious consequences. Indeed, banks are obliged to transmit the names of borrowers who are 3 months late with their monthly repayments. They will be entered on a list with the National Bank’s Individual Credit Register. All banks are obliged to check it before granting new credit. Thus, bad payers will find it difficult to obtain credit elsewhere.

The mention on the list with the National Bank will be maintained for 10 years. If you respect your contract by finally paying all your debts, this period will be reduced to 1 year following the regularization. Any regularization must be reported by the bank to the Central Individual Credit Center within 8 working days.

Pipe: About twenty fake credit providers have been detected: thanks to the following tips, you will avoid falling victim to scams.

Especially for consumer loans

At the end of October, 277,682 names appeared on the list of bad payers, slightly more than the 277,564 names of the previous month, but still significantly less than the 295,166 names of the previous year. These were people with at least 1 unpaid credit.

On average, 4.5% of borrowers had (had) at least 3 months in arrears. For 5.3% of all consumer loans granted, there was a delay in payment. With regard to mortgage loans granted, it was only 0.7%.

Also read: Do not fall into the following traps when taking out a mortgage loan!

How to avoid this?

How can you avoid these back payments and all the problems that will result? By contacting your bank in time. Don’t wait to be 3 months late!

Your bank can offer you a rescheduling of your credit, for example by authorizing you to pay only interest for a few months. If you stick to this arrangement, you won’t be late. This special arrangement aims to help people who have encountered financial problems as a result of high energy prices.

Already 5,000 households have obtained a repayment deferral for their mortgage loan: how can you apply for it and what should you above all take into account?

You can also try to take out a temporary bridging loan if you can demonstrate that your problem will only be short-lived because you will soon be receiving income from an inheritance, group insurance or the sale of a Property. However, you must avoid over-indebtedness!

Pipe: Discover and compare the different bridging loans on the market.

Another option is to contact a debt mediator, for example via the CPAS or the Social Assistance Centre. You may be able to reschedule other payments so that you can repay your loan.

Read more on Guide-epargne.be:

How to recognize dishonest credit providers?

Need a personal loan? The 5 rules to follow!

Can I get a loan if I don’t have a fixed income?

This article is brought to you by our partner Guide-epargne.be. Guide-epargne.be is an independent comparator of banking products and seeks competitive prices as well as better rates.