“Expand the blacklist of loan defaulters,” says consumer affairs minister

The blacklist containing the names of people in Belgium who have defaulted on one or more loans should be expanded, according to the policy statement of federal consumer affairs minister, Kris Peeters. The blacklist, maintained by the Central Individual Credit Register (CKP) of the National Bank of Belgium refers to customers who fail to repay consumer- or mortgage loans, reports Express.be.

The blacklist currently includes the names of about 350,000 consumers, for a total debt of more than €3 billion. Kris Peeters is urging the CKP to expand its blacklist to also include the names of consumers who default on consumer bills, such as those for electricity, phone and internet.

The expansion should not only ensure better protection for the business owner, according to the minister, but for the consumer, as well. The idea is to protect consumers from getting in over their heads in debt. Peeters points out that it will also be made easier for consumers to be removed from the list, should they enter repayment.