Do you want to borrow money, but are you more than $ 1,000 behind a current loan? Then it is not possible to take out a new credit. That is one of the measures that follows from the bill ‘Payment and credit services’, which was approved in the Chamber. It tightens the rules for consumer credit and ensures, among other things, that defaulters can no longer just take out a new credit. Do you want to borrow money and are you less than $ 1,000 behind? Then you can take out a new consumer credit, but the lender will have to clearly motivate the reason for this.

 

Promotion further to tires

Promotion further to tires

It was already forbidden to strongly promote credit, but from now on it is no longer allowed to offer it on the street or to bring it to the public unsolicited by post, telephone or email. In addition, it is no longer permitted to promote products for which consumers have to take out credit. In this way, borrowing money returns to the banks and other lenders, who can clearly advise consumers on this.

 

License for selling credits

selling credits

In addition, consumers can only borrow money from providers who have a license for it. Anyone who wants to grant credits must apply for a license and must meet certain requirements. The FSMA financial regulator will monitor this and ensure that consumers receive sound advice. In addition, the credit intermediary must always be able to demonstrate that the creditworthiness of the consumer has been properly checked. An essential part of this will be the mandatory credit information form. The government wants to ensure that consumers who borrow money know better where they stand and are not confronted with surprises.

 

Control with mystery shoppers

Control with mystery shoppers

Finally, the FPS Economy will use mystery shoppers to check whether the providers of consumer credit do indeed adhere to this. The moment they do not comply with the new rules, a warning or eventually a fine will follow. Borrowing the money in this way should become a bit safer, so that consumers do not get into trouble. The government wants to ensure that the number of arrears will decrease and consumers know what they are starting to do when they opt for a consumer credit or another loan.