French Consumer Code
In forceFor the application of the provisions of article R. 314-20, the information document includes a table comparing the financial characteristics of the loans being considered for consolidation with the financial characteristics of the proposed consolidation.
This table is presented in accordance with the model below:
COMPLETE CREDITS AND OTHER DEBTS (1) | PROPOSED CREDIT GROUPING |
|---|---|
Capital outstanding, borrowing rate (2) and amount of instalments: List the various loans. | Amount, borrowing rate (2) and maturity amount of the consolidation (3): |
Amount of other consolidated debts: List the various debts. | |
Term of repayment: List the various loans. | Term of repayment: |
Date other grouped debts due (8): List the various debts. | |
Total amount owed by the borrower in respect of outstanding loans and other debts (4) : | Total amount owed by the borrower in respect of the proposed consolidation (5,6) : |
Additional costs (7): for example, early repayment indemnities, mortgage release fees. | |
(1) For loans mentioned in article L. 312-57 the table is based on the capital actually borrowed at the time the document is drawn up. (2) The borrowing rate is that in force at the time the document is drawn up. (3) When the amount of credit proposed exceeds the sum of the capital outstanding under the contracts being combined and, where applicable, the amount of other debts, the lender will indicate in the table that it is proposing an additional credit line. (4) The total amount owed by the borrower in respect of outstanding loans and other debts is the sum : the amount of debts other than loans; the outstanding principal on the combined loans; the outstanding interest on the combined loans, depending on the borrowing rate and repayment period; any application and guarantee fees associated with the combined loans, if they have not already been paid by the borrower. This amount excludes the cost of any insurance. (5) The total amount owed by the borrower under the proposed consolidation is the sum of: the amount of the consolidation; the interest owed under the consolidation according to the repayment period specified in the table. This amount excludes the cost of any insurance. (6) If additional costs, such as early repayment indemnities or mortgage release fees, are included in this amount, the lender will indicate this in the table. (7) Additional costs need only be identified under this heading if their financing is not included in the total amount of the planned consolidation. (8) The due date for other consolidated debts is the date on which the document is drawn up. | |
