Everyone knows the little phrase that accompanies all credit advertising: “a credit is binding on you and must be repaid, check your repayment capabilities before you commit.” No one is safe from temporary financial difficulties that can prevent to pay your debts What happens if you do not pay the credit dates What is the regulation How to avoid the worst?
Empower the borrower
Since the cogilaw company of July 2010, the mention that reminds the consumer that taking out a loan is a responsible commitment appears on all communications associated with credit. In addition to this mention, the legislator requires credit agencies to submit an information sheet or dialogue sheet that collects all the declarations of the borrower for the purpose of awarding the financing. This document also commits your responsibility as a borrower. Any misrepresentation to obtain a credit may result in the nullity of your loan agreement and in case of difficulty of repayment, if it is proven that you have lied, you expose yourself to legal proceedings.
Respond to the first payment incident
From the first monthly unpaid credit, the lender will be indulgent and send a simple reminder. Do not panic, this letter has no legal value, it formalizes the fact that your account was not stocked in time to honor the monthly payment, while indicating you the risks incurred if you do not pay the deadline, a fortiori the following.
Quickly ask for an appointment with your bank advisor to find an immediate solution (postponement of deadlines, spread of debt). Do not hesitate to seek the advice of a broker to consider the purchase of credits. As long as you hold two credits, you can group them into a single monthly payment adapted to your actual repayment capacity. The monthly reduction of your debt ratio is made possible by the lengthening of the repayment period.
Notice to the second unpaid monthly payment
The procedure becomes hard on the second deadline. The bank this time sends a formal notice, a registered letter issued by the litigation department or by a collection firm that is responsible for claiming the sums due. This is the first step in the judicialization of your situation. You must pay within 30 days the two monthly payments unpaid, plus the late payment, under penalty of being registered with the financing company, the file of the Bank of France which lists incidents of payment of individuals. It is from the sending of the notice that you are considered officially late.
You will be enrolled in the financing company for 5 years in case of non-payment of the last 2 deadlines. During this period, you will not be able to request new credit. As soon as the situation is regularized, the bank is obliged to inform the Banque de France, which then deletes the file. In the absence of regularization, the bank will proceed with the forfeiture of the term which authorizes it to claim the principal remaining due, the interests of delays and the penalties. Then begins the legal process to initiate a seizure of your property and your income.