Subsection 5: Renewal

Before proposing to the borrower to renew the contract, the lender shall consult the file provided for in article L. 751-1, under the conditions set out in the order referred to in article L. 751-6 and, every three years, it checks the borrower’s solvency under the conditions set out in article L. 312-16.

The creditor may reduce the total amount of credit, suspend the borrower’s right to use the credit or not offer to renew the agreement where the information gathered pursuant to the provisions of Article L. 312-75 justifies this or, at any time, if it has information demonstrating a reduction in the borrower’s solvency as assessed when the contract was concluded. It shall inform the borrower of this in advance on…

When the contract is renewed, until at least twenty days before the date on which they become effective, the borrower may object to the changes proposed by the lender using a reply slip attached to the information provided by the lender, on paper or any other durable medium. The characteristics of the reply slip and the information it must contain are specified by decree.

If the borrower refuses the new interest rate or repayment terms proposed when the contract is renewed, the borrower shall repay the amount of credit already used under the terms and conditions preceding the proposed changes, without, however, being able to proceed with a new use of the credit facility. .

The borrower may at any time request a reduction in the maximum amount of credit granted, the suspension of his right to use it or the cancellation of his contract.In the latter case, he shall repay, under the terms of the contract, the amount of credit already used.

If the credit agreement or any associated means of payment has not been used for a period of one year, the creditor who intends to offer to renew the agreement shall provide the borrower, on paper or any other durable medium, at the end of the previous year, with a document setting out the terms and conditions of such renewal. This document shall indicate the identity of the parties, the…

If the borrower fails to return the document referred to in article L. 312-80, signed and dated, no later than twenty days before the due date of the agreement, the creditor shall suspend the borrower’s right to use the credit on that date. The suspension may only be lifted at the request of the borrower and after verification of the borrower’s solvency under the conditions set out in article L….

If the borrower has not requested that the suspension be lifted by the end of the period of one year following the date on which his revolving credit agreement was suspended, the agreement shall be terminated ipso jure. .

Where the credit facility is accompanied by the use of a credit card, the charging of the fee linked to the benefit of this means of payment does not prevent the implementation of the provisions of article L. 312-82.