Cofidis and Cetelem do not extend credit default beyond September

A third of consumer credit companies have not agreed to extend loan defaults, created to minimize the impact of the COVID-19 pandemic, beyond September 30. Among them are Cofidis and Cetelem, which have great expression in the market, said the newspaper Público in this Sunday’s edition.

Thus, and starting in October, thousands of consumers will have to pay the loan installments again, even if they are unemployed or with a strong reduction in income.

Most of the member companies of the Association of Specialized Credit Institutions (Asfac), however, will extend the moratoriums, but only until December 31, the association confirmed to Public. A shorter term than bank moratoriums (12 months from accession, with a limit of June 30, 2021), and also in relation to the public moratorium, which runs until March 31, 2021. In total , credit default consumption amounts to almost 200,000, according to data from the Bank of Portugal, the newspaper said.

Asfac member companies that agreed to extend the moratoriums until the end of the year are listed in the site association. For the consumer to benefit from this extension, they must contact the company and express their intention until September 15. You must prove the situation of economic fragility and the conditions can be changed.