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Credit Demand Letter

Credit Demand Letter Template for Belgium

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Key Requirements PROMPT example:

Credit Demand Letter

"I need a Credit Demand Letter in Belgian French for an overdue business loan of €50,000, with the loan originally issued in March 2025, requiring immediate full payment within 14 days and including a warning about potential legal proceedings."

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Document background
The Credit Demand Letter is a crucial document in Belgian debt recovery processes, used when formal payment collection is required for outstanding credit obligations. It serves as an official notification and demand for payment, typically sent after informal payment requests have been unsuccessful. The document must strictly comply with Belgian federal regulations, particularly the Law of 20 December 2002 on Amicable Recovery of Consumer Debts and the Belgian Civil Code. It includes specific details about the debt, payment requirements, and consequences of non-payment, while adhering to consumer protection requirements under both Belgian and EU law. This formal communication is essential for establishing a legal record of the demand and may be necessary for subsequent legal proceedings if payment is not received.
Suggested Sections

1. Sender Details: Full legal name, address, and registration details of the creditor or collecting agency

2. Recipient Details: Full name and address of the debtor

3. Date and Reference: Current date and unique reference number for the demand

4. Debt Details: Clear statement of the original debt amount, current balance, and any accrued interest or charges

5. Payment History: Summary of previous payments made and outstanding balance

6. Legal Basis: Reference to the underlying credit agreement or basis for the debt

7. Payment Demand: Clear statement of the amount demanded and payment deadline

8. Payment Instructions: Detailed information on how and where to make the payment

9. Consequences of Non-Payment: Clear explanation of legal steps that may be taken if payment is not received

Optional Sections

1. Previous Communications: Reference to prior attempts to collect the debt - include when there has been previous correspondence

2. Interest Calculation: Detailed breakdown of how interest has been calculated - include when interest charges are significant or complex

3. Payment Plan Options: Proposed payment arrangements or installment options - include when willing to accept partial payments

4. Dispute Resolution: Information about how to dispute the debt - include when required by local regulations or company policy

5. Third Party Authorization: Details of debt collection agency authorization - include when letter is sent by a third party collector

Suggested Schedules

1. Statement of Account: Detailed breakdown of the debt, including original amount, payments, interest, and current balance

2. Interest Calculation Schedule: Detailed calculation of interest charges and fees

3. Copy of Original Credit Agreement: Copy or extract of the relevant sections of the original credit agreement

4. Payment History Statement: Comprehensive list of all payments received and missed payments

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Financial Services

Banking

Consumer Credit

Retail

Commercial Lending

Professional Services

Insurance

Telecommunications

Utilities

Healthcare

Relevant Teams

Legal

Finance

Credit Management

Collections

Compliance

Risk Management

Treasury

Accounts Receivable

Customer Relations

Operations

Relevant Roles

Credit Manager

Collections Specialist

Legal Counsel

Compliance Officer

Account Manager

Financial Controller

Debt Recovery Officer

Risk Manager

Credit Analysis Manager

Legal Operations Manager

Treasury Manager

Accounts Receivable Supervisor

Industries
Belgian Civil Code (Code Civil/Burgerlijk Wetboek): Fundamental law governing contractual obligations, debt recovery, and notice requirements in Belgium
Law of 12 June 1991 on Consumer Credit: Regulates consumer credit agreements and protective measures for debtors, including requirements for formal notices
Belgian Economic Law Code (Code de droit économique/Wetboek van economisch recht): Contains provisions on fair trading practices and consumer protection in financial services
Law of 20 December 2002 on Amicable Recovery of Consumer Debts: Specifies requirements for debt collection practices and content of demand letters
EU Directive 2008/48/EC on Credit Agreements for Consumers: European framework for consumer credit agreements implemented in Belgian law
Belgian Act on Payment Services of 10 December 2009: Governs payment services and transactions, including default notices and payment demands
Belgian Privacy Law of 30 July 2018: Ensures compliance with GDPR and proper handling of personal data in debt collection communications
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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