When a credit transaction intended to consolidate previous loans includes one or more loans mentioned in article L. 313-1 whose relative share does not exceed a threshold set by decree by the Conseil d’Etat, the new credit agreement is subject to the chapitre II. Where this relative share exceeds this threshold, the new credit agreement is subject to chapitre III of this title.
When a credit transaction is intended to group together credits mentioned in article L. 313-1, the new credit agreement is subject to chapitre III. Any credit consolidation transaction secured by a mortgage, by another comparable security interest in immovable property for residential use or by a right linked to immovable property for residential use is subject, regardless of its purpose, to the provisions of Chapter III of this title. .
The lender who grants a credit consolidation transaction comprising one or more revolving credit agreements mentioned in article L. 312-57 reimburses the amount due under these loans directly to the original lender. When the transaction involves the entire outstanding amount of a revolving credit, the lender reminds the borrower of the possibility of cancelling the relevant agreement and offers to send the borrower a letter of cancellation signed by the…
The terms and conditions under which the credit transactions referred to in articles L. 314-10 to L. 314-13 are concluded in order to guarantee that the borrower is properly informed are specified by decree in the Conseil d’Etat.
The independent guarantee defined in article 2321 of the French Civil Code may not be taken out in connection with credit covered by Chapters II and III of this Title. .
Performance of the debtor’s obligations may be suspended, particularly in the event of dismissal, by order of the protection litigation judge under the conditions set out in Article 1343-5 of the Civil Code. The order may decide that, during the period of grace, the sums owed will not bear interest. In addition, the judge may determine in his order the terms of payment of the sums that will be due…
The the provisions of Article L. 511-5 of the French Commercial Code shall apply to bills of exchange and promissory notes subscribed or endorsed by borrowers, even those of full age, in connection with credit transactions governed by this Title, with the exception of Sections 2, 6 and 8 of Chapter III and Sections 1, 2, 4, 5 and 6 of this Chapter and Section 2 of Chapter I of…
In the preparation, granting and performance of a credit, advisory or ancillary services agreement, lenders shall act honestly, fairly, transparently and professionally, in the best interests of the rights and interests of borrowers. The granting of credit, ancillary or advisory services shall be based on information relating to the borrower’s circumstances and any specific requests made by the borrower, as well as on reasonable assumptions as to the risks to…
The way in which lenders remunerate their staff and credit intermediaries is without prejudice to the obligations mentioned in Article L. 314-22. The staff concerned are natural persons who work for the creditor and who directly carry out or participate in activities relating to the preparation, offer, granting or performance of credit agreements or the provision of advisory services mentioned in this title. This also applies to natural persons who…
Creditors and credit intermediaries shall ensure that the staff under their authority possess and keep up to date appropriate knowledge and skills concerning the preparation, offer and granting of credit agreements referred to in Article L. 313-1, the provision of the advice service referred to in articles L. 313-13 and L. 313-14 and, where applicable, intermediation activities. When the conclusion of a credit agreement involves the subscription of ancillary services,…
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is a Registered Trademark of
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182, rue de Rivoli
75001, Paris France
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Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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