News
New joint debt cancellation operation
On September 30, Crédit Municipal de Paris launched a new solidarity-based debt cancellation operation, enabling almost a thousand customers to recover, free of charge, items pledged as collateral more than twenty years ago. The institution has decided to return the pledges of all those whose loans were taken out before January1, 2000, free of charge.
Until March 31, 2021, beneficiaries of this measure will be able to collect their items without being asked for a refund.
This new solidarity measure is in addition to the actions already undertaken by the company to strengthen its social impact.
In addition to the previous "free clearance" operation carried out in 2018 for loans of less than €100, Crédit Municipal de Paris has in fact implemented significant measures to support its most vulnerable customers: overall reduction in fees charged, easing of the procedure and fees for withdrawing an item put up for sale, increased efforts to make customers benefit from their boni (surplus accruing to the owner of an item at the end of an auction, after fees have been paid).
At the start of 2020, Crédit Municipal de Paris also decided to lower its interest rates for loans of less than €300 from 4% to 2%*. This reduction in rates for the smallest loans concerns almost 20,000 customers.
Proud of its social vocation, last April Crédit Municipal de Paris made an exceptional donation of one million euros to several associations (including €700,000 to Secours Populaire de Paris) to support vulnerable populations at the height of the health crisis.
Since 2008, Crédit Municipal de Paris, the City of Paris' credit and social aid institution, has also developed a budget support service, free of charge and open to all residents of the Paris region. This platform combats bad debt, helps to overcome over-indebtedness and offers alternative forms of loan for people excluded from conventional bank lending. With the "Point Conseil Budget" label, it offers professional, caring support to anyone experiencing budgetary difficulties.
* Annual Percentage Rate
