Credit Agreement For Consumers

The consumer may, at any time and at no cost to himself, terminate an open credit contract, unless the parties have agreed to notice that cannot exceed one month. As soon as the right of withdrawal is exercised, the client must pay the principal and interest payable from the date of the assumption of the credit to the date of repayment of the principal calculated on the basis of the notional rate of the agreement within 30 days. The type of credit (personal loan, car credit, credit card, line of credit, overdraft facility or other); No compensation is due if the repayment was made as part of an insurance contract for the provision of a credit repayment guarantee or in the case of overdraft facilities, or if the repayment is during a period during which the interest rate is not set. If the lender asks the consumer, with prior consent, to offer a remote contract for financial services, the lender must, on that date, indicate at least the main characteristics of the financial service – the total amount of the credit and debit terms, the duration of the contract, the interest rate, the amount, the number and frequency of the payments , the description of goods or services and the cash price when the credit is granted in the form of a deferred payment for a good or service. Consumer credit contracts concern, on the one hand, professional lenders and, in some cases, credit intermediaries and, on the other hand, consumers who enter into a consumer credit contract. Standardized information sheet – in general: applicable . B for private loans, car loans, lines of credit and credit card agreements; In the case of a credit contract in the form of an overdraft facility, customers must be informed monthly, via an account statement, of the following: see the full list of credit contracts that are not covered by the rules on consumer credit contracts. The SIS is established by credit institutions and must be made available to customers even if a credit intermediary is involved (for example. B the point of sale where the consumer buys the financed products).