According to a study by Instrum Justitia, Belgian borrowers would honor their debts properly. As consumers, a panel of 100 individuals was questioned. It would be a questionn of dissecting their buying habits, regulations and the whole process so that they can honor their debts. This last situation would be rather frequent since it would affect 1 in 2 Belgians.
Financial institutions offers
In view of the growing number of offers from financial institutions in Belgium, the lender would benefit from an increased effort to protect against all forms of abuse. With just as many rights as obligations, the consumer is therefore very well supervised.
Remember, contracting a loan involves regular repayments until the end of its term. To make life easier, it is possible to request a permanent transfer order or to make a direct debit request within the deadlines.
Intrum Justitia is the body responsible for customer management and collection: issuing purchase invoices, payment and reimbursement.
Intervening in favor of the consumer, the first analysis concerns the wrongful incrimination of credits in the spiral of over-indebtedness. It follows that only 5% of borrowers who have contracted loans also find it difficult to regularize their fixed charges.
On the other hand, it was noted that the Belgian is willing to prioritize first his rent regulations and his mortgage. In the background, schooling and childcare, and finally loans between individuals.
Credit has nothing to do with over-indebtedness
Belgian debt has nothing to do with non-reimbursement of loans. Financial difficulties are rather linked to an inability to pay rents, energy and telephone bills or even taxes.
The credit is intended for people wishing to buy their home or acquire capital equipment. It was therefore designed for those who have a good repayment capacity and whose debt ratio does not exceed 33%. It involves the repayment of an imputed amount of loan interest and costs.
On the other hand, rather than resorting to credit, there are alternatives to get by. Saving, making an investment or building up savings are much better ways to achieve your goals. However, solutions exist by being advised or by using a mediator.
It would seem that these indebted or over-indebted people have planned the next events since they say they are 80% in control of their budget. How about we start teaching kids how to manage their finances?