Credit Consumption without Evidence Online At the Best Rate

Definition

 Definition

A consumer credit is a loan intended for the purchase of current goods and equipment, for non-professional use. The capital borrowed is therefore generally lower than for a mortgage.

To benefit from the regulations on consumption credits, the loan must be of an amount less than or equal to € 75,000 and a duration greater than 3 months.

Its duration does not generally exceed 7 to 8 years.

Although obtaining a consumer credit is easier than a home loan, it is still normally subject to the 33% debt rule, although many institutions exceed this rate when income permits.

An advance credit offer must be given to you and include the following documents:

  • The name and address of the lender;
  • Your name and address (possibly those of the deposit);
  • The good or service purchased and its cash price;
  • The conditions of the loan, that is to say: the amount, the interest rate, the duration, the number and the amount of the installments (monthly payments), the total cost.

Simulation of your credit consumption using our calculators

  • What is your borrowing capacity?
  • If you know the monthly payment, which loan can you claim?
  • How much will your loan cost you?

A credit offer is valid for 15 days from the date of writing. From the moment you sign the loan offer, you have 7 days to retract .

For this you just need to return the withdrawal slip. If the 7th day is a Saturday, a Sunday or a holiday, you can still send your mail on Monday or the day after the holiday.

Sending must be by registered mail with acknowledgment of receipt.

The LAGARDE reform

The LAGARDE reform

The LAGARDE reform on consumer credit aims primarily to improve information to borrowers. With regard to revolving or permanent loans, the lending organization is now obliged to propose an alternative with a depreciable loan .

A preliminary offer of loan is presented in these terms.

Auto loan offer at the Annual Fixed Annual Effective Rate (APR) of 6.22% with optional insurance of € 3 per month, for a borrowed amount of € 12,000 over a 36-month repayment period and a monthly payment of 362, € 35 excluding insurance, for a total cost of € 1152.63 including € 108 insurance .

It is also interesting to know the evolution of the value of the good that one acquires and to verify that its possible resale is enough to pay the consumer credit.

The different consumer credits

Immediate credit

Bank offers and other comparators offer immediate credit without proof, often available online in 24 hours. But whether you want to satisfy a compulsive purchase or that your financial situation requires urgent action, follow our advice to avoid the many pitfalls that await you.

  • All about immediate credit

Borrow between individuals

Until now the offers of loans between individuals presented a fairly significant risk in view of the many traps set by crooks of all kinds, facilitated by the arrival of the Internet. Recently with the arrival of Prêt-d’Union, the loan between individuals has secured. It is the only body authorized by the Prudential Supervisory Authority. The praise given by the financial press and the solid shareholders (Crédit Mutuel, AG2R la Mondiale …) make it a serious interlocutor.

Our pages on the same theme

  • The revolving credit
  • The pitfalls of permanent credit
  • Ready for senior

 

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Enter the Case of Refusal of Loan

 

Know first that banks are free to grant or refuse to lend money and they have no obligation to provide explanations and notify the CNIL in case of refusal of loan will not allow therefore to know the reason that motivated the decision of the bank .

 

How to obtain the grounds for refusal?

The decision must be based on an objective risk analysis that scrutinizes all elements of the file: financial, heritage and professional. The result is in principle in the form of a score that motivates the decision and allows the bank analyst to say or not.

Ask your bank advisor

Ask your bank advisor

Before going to the CNIL, start by asking your banker and ask him in detail the reasons for his refusal . If you think your case deserves a different outcome, ask for an appointment and see if the problematic item can be improved.

If your application has been scored or rated, ask for the results obtained on your file.

The law gives you a right of access . Exercise it by writing to the bank to send you in writing the notes obtained in the study of your credit report as well as any comments that have been annotated.

If you have been FICP listed and the Bank of France has just deleted your name, it is possible that your banker has not yet received the information. Indeed, it is transmitted to all credit organizations once a month. In this case, ask the Banque de France to provide proof of your cancellation .

Good to know: in the event of a refusal of a guarantee by Crédit Logement, you must contact your banker, the agreements between the bank and the surety company do not authorize the latter to explain to you the reasons for the refusal of guarantee .

Get help

 

That it is clear, the CNIL will not intervene to settle a dispute with your banker or even to assist you to obtain compensation. Its role is limited to requiring the bank to inform you about your risk score or score (1) when they have been established and to interview the Bank of France to verify if you are registered.

For this you must send a letter to the complaints department of the CNIL at the following address: 8, rue Vivienne CS 30223 75083 Paris Cedex 02 or directly on the site (see the link at the end of the article).

A few words on the CNIL

A few words on the CNIL

It is the Law of January 6, 1978, which established the National Commission for Computing and Freedoms in order to allow consumers to protect themselves against the misuse of computer files .

Every company has the obligation to declare all computer files containing personal data of its customers.

Its control mission allows it to intervene at the request of a borrower from a bank that refuses to provide the required information on the scores or scores awarded during the analysis of the file.

What are the grounds for refusal?

What are the grounds for refusal?

There are many reasons for a bank to refuse a loan and each case is unique. On the other hand, know that the risk analysis is global. Sometimes there is no specific reason , but rather a general situation that leads the bank to consider that your application carries a credit risk too high.

For example, despite a debt ratio of less than 33%, a stable situation and good bank accounts, the bank refuses on the grounds that your remaining income is insufficient to cover other household expenses.