Advertising of revolving debt offers   Advertising of revolving debt offers

 

First, the law regulates the advertising of consumer credit in order to protect the consumer.

 

Thus, any advertising received or collected whatever their support, that brings operations on consumer credit, must be fair and informative.

 

To meet these two conditions, it must specify:

 

– The identity of the lender,

– The nature of the proposed transaction

– The purpose of the proposed transaction

– The duration of the proposed transaction

– The total cost and, if applicable, the annual percentage rate of credit, to the exclusion of any other rates and lump sum perceptions;

– The fixed or adjustable nature of the annual percentage rate

– The period during which this rate applies (if it is a promotional rate)

– The amount, in dollars, repayment by maturity or, if not possible, to determine the average. This amount includes the cost of insurance when it is mandatory to obtain financing and, where applicable, the cost of standard perceptions

– The number of installments (for fixed-term operations).

 

This information, to satisfy the law requirements, must be clearly displayed on the advertising sign in the main body of text advertising and written so as readable as any other information relating the characteristics of the funding.

 

Furthermore “in any advertising regardless of the support used to indicate that a loan can be granted without information enabling of assess the financial position of the borrower, or to suggest that the loan increases resources or grants an automatic supply of money available immediately, with no identifiable financial compensation”.