Consumer credit is a type of personal loan. Provide special protection to individuals, compared with other types of funding, although the task is clearly related to the relationship with banks, credit or financial institution, and the purchase of goods or services.
Countless individuals seeking personal loans to provide services or purchase items. Through them, the user receives the amount of capital and agreed to replace this amount plus interest, by installments.
Nomination of staff, because they have a certain security, the borrowers are responsible for all that now and in the future.
Of course, consumer credit regulated by law (Act March 23 7 / 1995). This regulation, various issues such as improving the defense of individuals who receive loans.
Company providing credit users, under the management of loans, extended credit, credit or financing any such action, to satisfy personal needs that have nothing to do with their profession or business. This amount should be between 150 and twenty thousand euros.
Borrower must be a user; a natural person may request the capital just as, the needs of private individuals, and not as a business owner or the purpose of purchasing goods or services of a professional.
In connection with the extension of credit quotas set unless the user agrees to repay the loan, either in a single period not exceeding 3 months or 4 times, or twelve-month limit.
About the contract must accurately understand written information on the loan amount, April or truth of fertilizer.
Contracts on personal loans should always be formalized in writing. And should be made as many copies as the parties involved in the operation, because each party must get copies signed.
The contract must contain provisions for the principal and other observations:
Should include the Annual Percentage Rate, the overall cost of credit expressed as a percentage of the annual amount of the loan. APR will adjust on an annual basis, the amount of cash from all claims (refunds, credits and expenses), present or future made by the user and the employer.
If not specified, must contain Nominal Interest Rates in the cat is set at least from the time of signing the contract and terms that can be changed.
Must translate the list of time, amount and number, or the days of fertilizer that will be made by the user for the supply of loans, interest payments and other costs, as well as the total number of such payment, provided that can be achieved.
It also should be included under the contract to build the modules index overall cost of credit (except for non-fulfillment of the relationship agree) and details are included in the calculation of April.
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