Personal credit: discover our free guide
Browse our guide and discover everything you need to know to take out your personal credit in the best conditions and at the best rate.
Among other things, you will discover:
- How much you can borrow against your income
- How To Use a Credit Comparator
- Projects you can fund
- How to compete
- How to Apply for Credit
- The documents you need for signing your credit agreement
Personal Credit: How Much Can You Borrow?
It all depends on the income and expenses you already have in progress.
The good question you should ask yourself is: “How much do I need to borrow to complete my project?”.
Whatever you say, any request for personal credit is motivated by a goal. No one borrows money just to say to borrow money. Before getting started with your personal loan application , it is important to properly calculate the budget you need.
To do this, list everything you want to buy or pay (if we are talking about invoices) and indicate the cost of each item. Then add up and you get the amount you need to complete your projects.
As of this writing, depending on your income, the maximum allowable expense / income ratio is 60%.
Personal credit comparator: our advice for use
Take your time to compare all the personal credit offers offered by our partners found on our loan comparator. Do not hesitate to change the amount you wish to borrow several times. Also modify the period over which you wish to repay your credit. The rates of certain credit companies change depending on the amount and the duration chosen.
To go to the page dedicated to personal credit comparison, click on the following link: personal loan comparison.
Projects you can finance with personal credit
You can finance various projects such as:
- Your children’s studies
- Buying new furniture
- Your holidays
- Buying a used vehicle
- The purchase of computer equipment
- Your marriage
- The purchase of musical instruments
- An operation
There are still many other projects that you can finance a personal loan.
How to play the competition?
The best way to get competitive is to apply for credit online. Once the various proposals have been received, you simply have to put them in competition with the personal credit organizations concerned.
To do this, contact each bank, each broker concerned and submit the best proposal received and voila. Expect new proposals which will surely be better than the best.
Procedure for submitting your credit request online
- Click on the “REQUEST AN OFFER” button at the chosen partner
- If necessary, make a new simulation on the partner’s site
- Click on the button inviting you to make your request and start filling out the form
- Please specify the credit goal, what you will do with the requested funds
- Regarding your income, indicate the average of the last 3 months received
- If you have credits, precisely fill in the details of each credit (amount, duration,…)
- Do the same with credit lines, credit cards, account overruns,…
- In the comment block, indicate if you have a company car, petrol card,…
- Confirm that your request has been sent as soon as you have completed all the required fields
Take the time to properly complete your personal credit application, it is very important!
A carefully completed application is more likely to result in an agreement.
- Professional income
- Retirement income
- Unemployment benefits
- Mutual income
- Work accident annuities
- Meal vouchers
- Family allowances (taken into account by certain organizations)
- Support payments received (taken into account by certain organizations)
- Rental rents
Income from the following situations is not taken into account:
- CPAS allowances
- Income from Article 60
- Income from the SPF Social Security (Black Virgin)
Mandatory documents to sign your personal credit agreement
You will still need to provide the following documents:
- Front / back copy of your identity card
- Bank card (this is proof of the account where the funds will be paid)
- Last 3 proofs of income (salary, family allowances, unemployment, mutual insurance, pension,…)
PLEASE NOTE, identity cards A are refused.
Rights and obligations of the lender
In matters of personal credit, lenders have obligations to inform prospective borrowers.
We invite you to consult the SPF Economy page on this subject: information obligation.