Revolving debt will be (even) more framed. It will be recalled that the law intended to prohibit. This proposal was not discussed, but it demonstrates the distrust government to carry this type of credit. The main provisions of these guidelines are:
Revolving Debt Object
When the consumer is offered a revolving debt at the point of sale or through a means of distance selling (internet, phone, mail…) for the acquisition of a good or service, and if the credit amount is greater than a fixed threshold, the consumer must be able to conclude a credit agreement depreciable instead of a revolving debt agreement.
Obligation to study the enhanced solvency
In the case of revolving debt, the lender must
- Every three years, check the creditworthiness of the borrower in the conditions for the granting of new credit (from verification of sufficient information, including information provided by the borrower to the lender’s request).
Distance selling of revolving credit
In the case of distance selling (mail, telephone, Internet, …) or in case of credit extended to the point of sale (through intermediaries) if a credit agreement to finance the purchase of goods or services particular service is offered for an amount greater than a threshold set, the lender or intermediary must offer the borrower the option of purchasing a credit agreement depreciable instead of a revolving credit agreement.
Minimum capital repayment by maturity
In the case of a renewable contract, each payment must include a minimum repayment of borrowed capital, which varies according to the total amount of credit granted.
Non-use of credit
Today, when the revolving credit or bank card associated is not used for three years, the lender must, at the renewal of the contract, send a separate document containing a number of mandatory (amount available, amount of repayment in installments).