Means for a person to obtain a certain amount it could not have its own, the credit is increasingly used by the French for the acquisition of property of significant value. Existing concepts has always been in relationships, borrowing and lending have become more professional and have, with specific rules, to fund economic development and improved living conditions of people. Credit institutions compete to provide specific offers and unique such as mortgages, personal credit, credit, high-tech, car loans and many other types of credit.

credit_guide

The characteristics of the loans have also become complex. What makes mandatory the use of a counselor if you do not want to enter into a contract which has not mastered the ins and outs. However, many rules ensure consumer protection and they can use many ways to solve their financial problems.

The prerequisites for credit

Any person wishing to obtain credit must complete a number of conditions. Among other things, it must meet four basic requirements: be of legal age, resident in France, have a bank account and not included in the records of the Banque . Compliance with these conditions can usually obtain credit from financial institutions. However, they can also apply some discrimination by considering the particular social-professional status of borrowers and the risk of default to which they are exposed. Banks are the most stringent in granting credit. However, there are other institutions from which applicants may apply. In addition, they can opt for intermediaries, brokers and associations working both as guides, advisers and lenders. You can also turn to other credit institutions, including lenders on the internet.

The characteristics of credit

The credit includes numerous concepts. First, the credit is characterized by its type and use. The offers are generally consistent with the purpose of credit granted. There are two main types of credits according to this categorization: home loans and personal loans. On the other hand, one can also group the loans according to their terms. In this case, we can classify them into mortgage loans, zero interest loans, bridge loans or credits. However, whatever the type of credit, you must always take into account three elements: the amount, rate and duration. The amount depends on the needs of the borrower and its ability to repay. The rate is decided by mutual agreement with the borrowers, it can be fixed or adjustable. Finally, the duration depends on the contract with the borrower and the ability to repay it.

Protection of the borrower

In most cases, the conditions of a credit enacted unilaterally by the financial institutions. The consumer is thus often in a weak position vis-à-vis the latter. The borrower may still allow competition to find the best deal. It may also enjoy some protection rules established by law. This is the requirement for institutions to make an offer after any request by a client. The client also has a withdrawal period of seven days to change your mind after signing a credit agreement. Scrivener laws I and II, the law and the law Neiertz Châtel establish consumer protection in credit agreements, responsible lending and borrowing and regulation of over-indebtedness.