Protect Consumers

In addition to its well-known pawnbroking business, formerly herds, mattresses, bicycles, today’s watches, wines or comics …, the Crédit Municipal de Paris (CMP), an old financial institution better known under the nickname “Ma Aunt “, has launched for two months, with the City of Paris, an experimental monitoring of over-indebted people.

The device had been preceded by a humorous advertising campaign in the Paris metro: “We do not see credit as a product to sell you but as a service to you .”

For two months, the Lebronjamesshoes Inc us has set up a team to assist people in debt distress.

“The over-indebtedness explodes, (…) Lagarde law supposed to protect consumers from bad consumer credit will take several years to be effective”, explained in March Emmanuel Bouriez, deputy general manager of the municipal credit.

After filing an over-indebtedness file with the Paris branch of the Banque de France, the plaintiffs receive a plan of over-indebtedness, several pages of the Commission of over-indebtedness, often illegible by the common people, who detail the continuation of the operations (deleveraging by repayment, rescheduling, deletion, personal recovery procedure …).


” We have, since the last meeting of the Commission, received a hundred telephone calls and, on these calls, welcomed about forty people in appointments,” said Bernard Candiard, General Manager of the Crédit Municipal de Paris. Concretely, “the Commission sends us only people who are already over-indebted, we do not do prevention, otherwise, we would be overwhelmed”.

Indeed, the Commission meets every month and, in 2011, according to figures from the City of Paris, nearly 5,500 files were filed, an increase of 2.8% over one year. For its part, Ma Tante anticipates the processing of several hundred files a year, about 500 when the pace of cruise has been found.

“But we are going progressively, adds Bernard Candiard. First, because it is about technical topics, law and management quite sharp: the team continues to be formed. is about a delicate subject, people who have dived: there are many people alone, women, in particular, people separated or sometimes simply lost in the administration.

The senior official, formerly of the Court of Auditors, remembers this woman who had moved three times to escape the Tax … who wanted to refund her VAT!


This initiative owes a lot to the synergies of the Municipal Credit, the City of Paris (to which Credit is backed) and the Banque de France. Clearly, the Credit welcomes the three people of the team and deals with logistics on a daily basis, the town hall pays salaries and the Bank of France supports the training and evaluation components.

For, in terms of training, major associations like Emmaus, the Restos du Coeur or the Catholic Relief would have expressed their interest; they have beneficiaries who are likely to be interested and some new means of payment, falsely called “fidelity card” drifting people in a fragile financial situation.

As for the evaluation, as for the microcredit initiative launched in 2008 (from 300 to 3,000 euros, the interest of 4% being paid back to the borrower at the end of the repayment), the device will be examined by the Crédoc and the results will be made public, promises the boss of the pawnshop. The device could finally be extended to the entire Paris region.

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