Consumer credit: can you hide it from your bank?

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To deal with the unexpected, to replace your household appliances or simply to maintain your standard of living in times of inflation… Consumer credit is popular this year. According to figures from the French Association of Financial Companies (ASF), 11,791 loans were taken out in the first quarter of 2022, compared to 10,841 in 2021, over the same period.

Michel Ruimy, associate economist at SPAK, tells us that the law describes consumer credit as a loan which concerns “operations other than those related to the purchase of real estate, for amounts between 200 euros and 75 000 euros and a repayment period of more than 3 months”.

Seniority in employment, family situation, savings capacity, debt ratio, current credit… As with any loan, consumer credit invites the bank to check the personal and financial situation of the future borrower.

“To take out consumer credit, the future borrower must be of legal age, receive stable income, reside in metropolitan France and not be registered in the Banque de France’s national payment incident file (FICP)”, specifies Michel Ruimy. .

Do you risk anything by hiding a consumer credit taken out in another establishment in order to improve your chances?

To accept or refuse your loan, the bank relies on the data you provide. Any falsified, erroneous or simply hidden information gives the establishment the right to demand from you the immediate and full reimbursement of the outstanding capital.

Note that the bank can also file a complaint against borrowing for forgery and use of forgery, which exposes you to three to five years in prison and a fine of 45,000 to 75,000 euros.