Borrower Protection Scrivener Law

Scrivener Law, introduced on January 10, 1978, which concerns consumer credit and personal credit. It regulates loans for a period greater than or equal to three months and for an amount financed less than or equal to € 21,500.

The Scrivener law imposes the following conditions on credit organizations:

- The prior credit offer is compulsory.
- The credit offer is considered valid for 15 days and without penalty in the event of early repayment.
- The establishment of a withdrawal period of 7 days.

This law requires financial organizations to include the following information in their credit offers:

- The identity of the borrower and co-borrower as well as that of the credit organization.
- Credit condition (amount financed, annualized TEG, duration, etc.)
- Amount of reimbursement (with and without credit insurance).
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