Under the generic term consumer Loans many forms co-exist. Though personal loans (used or not) are the best known, the category of consumer loans also includes bank overdrafts, credit free, revolving credits also called revolving credit. Whatever the formula chosen, all consumer loans have in common is an amount of less than € 21 500 for a loan period of 3 months minimum. These loans can finance any kind of purchase (objects, products, services).
We usually distinguish two main types of consumer loans: Personal Loan, which include forms as diverse as student loans, car loan, Payday Loans, the loan works … and silver reserves (also called revolving credit). These loans work in an atypical way, since they allow to have available an amount fixed by contract that you have the choice to use (and therefore pay) or not. At each repayment, the cash reserve is replenished accordingly.
The offer must first be associated with a withdrawal slip detachable so the borrower can play in its favor on reflection period of seven days after signing the contract. Any prior contract of loan is also subject to a statutory period of seven days ahead of the signature to allow the borrower to better compare offers from different lenders sought. The overall effective rate is necessarily shown in the preliminary offer to facilitate comparisons. No additional insurance is compulsory.