#EU4Consumers

ec.europa.eu/consumer-credit

doi:10.2838/650327 DS-01-15-250-EN-N

Find out more at:

ISBN 978-92-79-47331-9

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RIGHT

You have the right to receive

your credit contract information
in a consumer-friendly format.
Not sure whether a credit agreement is right for you?
Use your right to shop around for the best credit offer and
ask each credit provider to give you key information in a clear,
standardised format called the Standard European Consumer
Credit Information form. Each credit provider is obliged
to provide you with this information before signing the contract.
So ask and compare offers before you sign!

You have the right to revoke

your credit contract within
14 days of signature.

ARE YOU CONSIDERING

TAKING OUT CREDIT?

Are you planning to buy

a smartphone, replace your
old washing machine, or
get a new car? You may be
offered a consumer credit
together with the contract to
pay for your item in multiple
instalments over a fixed
period of time. Before you
sign, find out which important
credit rights you have!

ARE YOU PAYING OFF

A LOAN OR CREDIT?

Credit rights protect you

before and after you have
signed your credit agreement
and always guarantee you
a way out, should you need it.
Life may be full of surprises
but knowing what credit rights
you have as a consumer is
always important!

Did you know you have two weeks to revoke your credit?
If youre having second thoughts about the credit agreement
you have signed or realise that you do not need to take out
credit after all, you may withdraw from your credit contract
within 14 days of signing and without having to justify
your decision. You will have to pay back the amount borrowed,
plus interest and any non-refundable charges paid already
by the credit provider.

You have the right to repay

your credit faster than foreseen.
Are you able to pay off your credit earlier than foreseen?
It is crucial to know that your credit rights protect you during
the entire payback period and guarantee you the possibility
of early repayment of your debt at any time.
Be aware that the credit provider may ask you to compensate
for any lost income, but that the compensation you pay cant
exceed the total amount of interest actually lost.