20 May 2020 - 2 min Reading time
Consumers who have been financially affected by the coronavirus crisis can temporarily defer payments on their consumer loans. A similar arrangement had already been in place for mortgage loans for several weeks.
Now consumers can also request a payment deferral for things like their car loan or the repayment of their solar panels. The Committee on Economic Affairs of the Chamber of Representatives had already approved a bill for this purpose. Today, the plenary session voted on the final text.
The borrower requesting a payment deferral must meet the following conditions:
The payment deferral applies to both principal and interest and can be taken for a maximum of 3 months. This period can be extended once for an additional maximum of 3 months.
After this deferral period, repayments will resume.
No dossier or administration fees will be charged. However, interest is due for the deferral period, which will be settled at the end of the loan or spread over the remaining months.