Understanding consumer credit


If we refer to data from the Belgian Central Credit Unit for Individuals as of 2014, almost 66% of consumers who applied for a loan opted for consumer credit. This figure shows how much this means of financing contributes to the household budget.

The dual role of consumer credit

The dual role of consumer credit

Consumer credit therefore has its place in the family budget, thus ensuring the financing of various needs including work. On the other hand, it plays a big role in contributing to global economic growth.

The different types of work financed by consumer credit

The different types of work financed by consumer credit

Without entering into the financing of leisure and various events, or the financing of cars and others, consumer credit makes it possible to carry out renovation works within the home. If you want to transform the decoration of your home, such a loan can be of great help. With this loan, you can also repair the damage that has occurred in your home, buy furniture or household appliances, quite simply.

Be responsible by taking out a consumer loan!

Be responsible by taking out a consumer loan!

Recall that the consumer loan is an amount of money granted by a bank or a credit institution to finance any expense other than the purchase of real estate. Strict regulations govern it. These rules are established by the public authorities after they have consulted with consumer representatives and credit professionals. Everyone is invited to respect them. A full awareness of its responsibility is therefore required when taking out this type of loan.

A large choice of consumer loans

A large choice of consumer loans

Since each loan reason is different, a wide choice of consumer loans is offered by lending organizations. Each loan has its specificity, it is developed to adapt as well to the needs as to the situation of the borrower. It can be a revolving loan, a depreciable loan or a grouping of loans. Each of these loans are applicable to your work. Before resorting to it, think nevertheless of comparing in order to make the good choice. We offer a free online comparator for this.

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