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Consumer credit disputes: deadlines and penalties
The credit organisation is demanding repayment of a consumer loan: the two-year time limit may render its action inadmissible if it has waited too long. Consumer credit disputes are governed by procedural rules that derogate from ordinary law and are favourable to borrowers who know how to invoke them.
Bank overdrafts and consumer credit law
Your bank has tolerated an overdraft for several weeks - but when does the overdraft become consumer credit? The Consumer Code imposes formal obligations on the bank, and failure to comply may result in penalties. Here's how to tell the difference between a cash facility and a loan governed by consumer law.
Consumer creditRevolving credit: precautions and legal framework
That offer to pay in instalments or that shop card you signed up for may be concealing a revolving credit facility, a financial product with a high risk of indebtedness. Legislation has gradually introduced a framework for this type of credit - pre-contractual information, minimum repayments, automatic cancellation - but the pitfalls remain. Here's what you need to check before using your reserve.
Consumer creditEarmarked loans: when the purchase and its financing are linked
You've financed a purchase on credit and the seller hasn't delivered - or the goods are faulty. Earmarked credit links the sales contract and the loan contract in a single commercial transaction, which in certain cases allows you to suspend repayments. This protective mechanism, set out in the Consumer Code, is subject to strict conditions, which are detailed in this article.
Consumer creditThe right of withdrawal: essential protection for borrowers
You have just accepted an offer of consumer credit and wish to withdraw: the law gives you fourteen calendar days to withdraw, without having to give any reason. This right of withdrawal, which stems from the 2008 European directive, is subject to formal conditions that are strictly enforced by the courts.
Consumer creditWho can benefit from the protective consumer credit regime?
You've taken out a loan and don't know whether the protections of the Consumer Code apply to your situation. The consumer credit regime is powerful but targeted: it covers neither all borrowers nor all transactions. Here's how to check whether you are covered.
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