French Consumer Code

The threshold mentioned in the first paragraph of article L. 312-62 is set at €1,000.

The information mentioned in article L. 312-62 is presented in accordance with the document attached as an appendix to this code. The creditor shall provide this information to the consumer prior to the provision of the information mentioned in article L. 312-12. It provides the document, mentioned in the previous paragraph, on paper or on another durable medium at the latest when providing the information mentioned in article L. 312-12.

The minimum repayment of the capital borrowed at each instalment provided for in article L. 312-65 corresponds to the following formula: R = α x K In this formula: R denotes the amount of the minimum capital repayment; K denotes the amount of capital outstanding after the last use of the credit facility; α denotes the minimum repayment percentage, which is calculated as follows: 1° For revolving credit where the…

The amount of the instalment may not be less than 15 euros.The instalment by which the borrower pays the balance enabling the entire outstanding capital to be repaid may derogate from the amount stipulated in the first paragraph. .

The minimum repayment percentage established under the conditions defined in article D. 312-27 and the minimum maturity amount defined in article D. 312-28 correspond to a monthly repayment schedule. In the case of an instalment covering a period other than a monthly payment, the lender determines the minimum repayment percentage and the minimum amount of the instalment in proportion to the period covered by this instalment.

As an exception to the provisions of article D. 312-27, the lender may grant the borrower: 1° An extension of the repayment date, no more than twice a year; 2° In the event of temporary financial difficulty or deterioration in the borrower’s solvency, an extension of all or part of one or more repayment dates, provided that the borrower’s right to use the credit is suspended until the borrower has…

Revolving credit is considered inactive if, for one year from the date of subscription or the date of the last renewal, the credit agreement or any associated means of payment has not been used. The attached document referred to in Article L. 312-80 shall be provided no later than three months before the expiry date of the one-year period.