Regulations governing consumer credit advertising, credit contract offers, and lender obligations to protect consumers from deceptive practices.
Extract
[...] Before the 1978 law, consumers were disrupted by the 2 distinct contracts. Thus, reads the 2 contracts. Obligation of the borrower is thus effect that, from the start of the delivery of the good or provision of service, and ceases at the interruption of this. Ccl of the main contract subject to the obtaining of the credit which comes to the fi. Art L 312-46 : no commitment can be validly entered into by the buyer in relation to the seller until he has accepted the credit contract. [...]
[...] The conso can use the amount in 1x or pay it off gradually. Withdrawal can be made in cash or payment at the com. As the conso repays, the available amount for use is rebuilt and the interest is calculated on the amount used and not on the maximum authorized amount. Difficulty : harmful to the conso. High cost, relatively long repayment period, too much ease of obtaining. Reform adopted in 2010 took special measures for this credit: when offering a revolving credit, a repayable credit must be proposed as an alternative. [...]
[...] Problem: this protection only intervenes a posteriori, so it is complex if there is credit. It is better that the clauses are reasonable from the outset and that is why the legislator limits such clauses a priori from their drafting. The term of the credit is stipulated in the joint interest of the 2 parties. The borrower must repay, taking into account the agreement. In order to facilitate debt repayment, the legislator allows for early repayment of the credit. Before this repayment was free, but today art L 312-34: lender can claim a compensation. [...]
[...] In this case: a loan considered toxic with payment stages where the amount of some were less than the amount of the overdue interest, the turn risking leading to a risky contract for the borrower with each payment. Belongs to the lender to report the proof that he has well executed his pre-contractual information obligations and that he has well checked the borrower's solvency. In French law, lender exempt from liability if he justifies having respected the entire set of his obligations. 3rd point : revolving credit / revolving credit. Revolving credit = consumer credit that allows a consumer to have a sum of money available for use in whole or in part. [...]
[...] Risgles related to the consumption contract, applies to all credit operations. Credit operation assumes 3 elements : - advance : exexecution by the pro of his service, can take the in the form of an advance in kind or in cash. - restitution : the conso executes his service of repayment of loan or payment of the thing or service. The repayment can be made in one go or else it can be staggered. - period of time between the advance and the restitution : restitution cannot be made at the same timeevidence three concurrent in advance, but restitution must bethree postsearlier than in advance. [...]
