Consumer credit: you are not alone!

Know it ! Individuals made more consumer credit in 2015 than in previous years. In terms of outstandings, a record has just been beaten.

According to the Bank of France, the stock of consumer credit amounted to 151.9 billion euros at the end of September 2015. To make this figure concrete, it is as if every French, children included, had a current loan of 2300 euros or 5,400 euros per household.

A spectacular recovery

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The number of consumer loans had been falling since 2011. As a result, volumes have risen dramatically to reach historic numbers. In one year, outstandings increased by 4.2% and over three months they increased by 2.2%.

Because making a loan is a good solution for many French people! This increase is mainly due to depreciable loans, which account for nearly 69% of the total. As a reminder, a depreciable loan is a loan whose return of capital is spread over time. During the life of the loan, you repay both principal and interest.

Why does it go up?

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The Lagarde Act of 2010, which tightly regulates revolving credits to protect borrowers, also had an effect: revolving loans are becoming less and less used. They now only account for 13% of outstanding loans against 15.7% two years ago.

This increase in consumer credit is obviously closer to the current level of interest rates. At 4.4% on average (3.90 at Union loan at this time!), The depreciable loans are this year to levels never reached before. For comparison, three years ago, a consumer credit cost more than 6%.

Authorized overdrafts records … but not very advantageous

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It is finally noted that the phenomenon is accompanied by a recourse more and more marked to the overdraft. Currently, the cumulative sum of French overdrafts amounts to 7.6 billion euros. Again, this is a record. On average, an overdraft now costs 6.4%. So, as much, turn to Loan Union to rebuild your cash!

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