French Consumer Code
In forceThe creditor shall provide to, by any means, monthly and within a reasonable time before the payment date, an updated statement of the performance of the revolving credit agreement, making clear reference to the previous statement and specifying:
1° The date on which the statement was drawn up and the date of payment;
>The fraction of capital available 3° The amount of the instalment, including the portion corresponding to interest;
4° The interest rate for the period and the total effective interest rate;
> The total effective interest rate 5° Where applicable, the cost of insurance;
6° The total sums due;
7° The amount of repayments already made since the last renewal, showing the proportion paid in respect of the capital borrowed and the proportion paid in respect of interest and miscellaneous charges relating to the credit transaction;
> The borrower's option to repay the capital borrowed at a later date;
The borrower's option to repay the capital borrowed at a later date 8° The possibility for the borrower to request, at any time, the reduction of his credit reserve, the suspension of his right to use it or the cancellation of his contract;
> 9° The fact that, at any time, the borrower may request the reduction of his credit reserve, the suspension of his right to use it or the cancellation of his contract 9° The fact that the borrower may, at any time, pay in cash all or part of the amount outstanding, without being limited to the amount of the last instalment alone;
The estimated number of instalments that the borrower will have to pay in cash at any time 10° An estimate of the number of monthly instalments still required to repay in full the amount actually borrowed, based on the repayment terms agreed.
This information must appear, in clear print, on the loan application. This information must appear, in legible characters, on the first page of the document sent to the borrower.
