Better protection guarantor
On the proposal of Mrs. Freya Van den Bossche, Minister of Consumer Affairs, and Mrs. Laurette Onkelinx, Minister of Justice, the Council of Ministers approved a draft bill on the free bail.
People guarantee family members or friends without properly assessing the far-reaching financial consequences. For example, today it is possible to guarantee yourself unlimited in time or amount. Moreover, the guarantor is often not well aware of what awaits him and he is not always sufficiently informed about the debt to be paid. To better protect and inform guarantors, a number of principles are put forward that will be laid down in law.
People stand surety because they want to help their daughter or are to build a house, because their brother wants to buy a car, or because they want to help their best friend to realize their dream of owning a store. Unfortunately, many people are not aware of the consequences that such a guarantee can have. If you act as guarantor for someone today, you sometimes do this indefinite period or sometimes for an indefinite amount and you are often not aware of what awaits you. Moreover, as a guarantor, you are often not well informed about the debt to be paid. To provide guarantors with better protection, some principles are laid down in law.
Bail now on
A written agreement will always have to be concluded in which a number of conditions must be clearly stated on paper. For example, the amount of the guarantee must now be limited by recording the maximum debt on paper. In addition to the amount of the deposit, the duration of the agreement must also be limited. The agreement must clearly state how long the deposit lasts.
Moreover, in the event of the death of the guarantor, matters are also better regulated. Whoever receives an inheritance must be informed of the existence of a guarantor so that he can decide to refuse the inheritance. Upon acceptance, the deposit may never be greater than the inheritance.
A guarantor must also be given all necessary information about the debt during the term of the bail. Therefore, from now on the creditor must provide the guarantor with all information about the evolution of the debt. For example, if the debtor is required to pay, the guarantor must be notified so that he knows that problems (may) arise.