Code of Conduct

10 principles for responsible credit and loans

Studiebureel JPL NV endorses the code of conduct of the Professional Association of Credit (BVK)

A code of conduct has been drawn up by the BVK (the Professional Association of Credit) and aims to:

  • Balancing the granting of loans to individuals

  • Prevention and the fight against excess debt

Principle 1: Transparency

  • The information about products is intelligible, not misleading and user-friendly from the borrower's point of view.

  • Advertising messages are unambiguous.

  • Customers have access to easily accessible contact points if they have a request, regardless of the sales channel they are targeting.

Principle 2: Correct Pricing

  • We provide the potential borrower with a comprehensive overview of all costs associated with our products (interest rates and costs).

  • Where applicable, we communicate to our customers the standard APR (Annual Cost Percentage) or the OJR (Corresponding Annual Interest Rate), as the case may be, to allow them to compare different products offered.

Principle 3: Service to the Customer

  • We provide financial guidance to the customer by teaching him the principles of budget management and warning him of the possible consequences of default on payments.

  • We help our customers find the solutions that best meet their needs.

  • We inform borrowers about the dangers of over-indebtedness associated with consumer credit or mortgage credit by means of clear rules of conduct (brochures and websites).

  • We employ skilled personnel for credit sales, credit closing and late payment management, providing appropriate personnel training where necessary.

Principle 4: Confidentiality

  • The customer data is treated confidentially within the limits of the law and its obligations (eg: credit risk central and legal authorities).

  • In accordance with data protection law, customers can exercise their right to access and, if necessary, correct the data relating to themselves. They also have the right to object to the use of that data.

Principle 5: Customer Satisfaction

  • Clients have access to all information on complaint handling procedures and to the contact details of the Ombudsman.

  • We record all customer complaints and respond immediately.

  • We check customer satisfaction at regular intervals.

Principle 6: Credit Cycle Management

  • We act in accordance with a predetermined credit policy that covers all aspects of the credit cycle:
    1. acceptance of the customer;
    2. screening the loan portfolio;
    3. risk prevention;
    4. recovery.

  • Based on the information obtained from the potential borrower and other sources, we consider:
    1. with respect for privacy and in accordance with data protection regulations, whether the individual potential borrower has the option to repay the relevant credit with his / her income;
    2. whether that repayment capacity will continue in the foreseeable future, despite his / her current indebtedness.

Principle 7: Collection of Data

  • We set standards for customer identification.

  • We collect, internally and externally, the accurate and relevant information about the borrower that we need to estimate whether he will be able to meet his financial obligations.

  • The lender has the right to check the information provided by the potential borrower for its correctness and completeness.

Principle 8: Assessment of Credit Risk

  • Our credit risk assessment and loan portfolio analysis models are systematically based on:
    1. credit rules and / or scoring models;
    2. the available budget, assessing the extent to which the customer will be able to meet his financial commitments in the future, taking into account his foreseeable income and expenditure;
    3. Accurate and reliable estimates on a professional basis of the value of the home in the case of home loans.

  • We will be particularly cautious when it comes to products with an initial fixed interest rate and / or with subsequent interest rate increases, and, in particular, with regard to floating rate loans.

Principle 9: Risk prevention

  • We follow a structured approach so that the credit and fraud risk associated with current agreements can be detected and mitigated.

  • We immediately contact the customer who does not make a payment to find out why and to find suitable solutions for Near.

  • In the event of unforeseen life events or other significant changes in the borrower's living conditions, we will investigate requests to adjust / change the repayment schedule. In such case, the borrower will be advised of the financial consequences and legal implications of any change in credit terms.

Principle 10: Debt counseling

  • Each credit decision is specifically based on the calculation of the remaining budget. This helps the potential borrower to determine its borrowing capacity, taking into account, among other things, the amount of the loan, the term and the repayment schedule.

  • We provide the borrower with all reasonably foreseeable assistance to facilitate the handling of the credit.

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