Furniture stores that finance people with bad credit

The credit agreement provided for in article L. 311-18 must be drawn up in characters the height of which cannot be less than that of the body eight. It includes clearly and legibly, in the order specified below:

1 ° The identity and geographic address of the contracting parties as well as, if applicable, the identity and address of the credit intermediary concerned;

2 ° The box mentioned in article L. 311-18, which indicates in more visible characters than the rest of the contract, in the order chosen by the lender and to the exclusion of all other information: The type of credit ; The total amount of the credit and the conditions of provision of the funds; The duration of the credit agreement; The amount, the number and the frequency of the installments that the borrower must pay and, if necessary, the order in which the installments will be assigned to the different balances due fixed at different debit rates for the purposes of repayment. For overdrafts, the amount and duration of the authorization that the borrower must repay is indicated; The debit rate, the conditions applicable to this rate, if applicable any index or reference rate which relates to the initial debit rate, as well as the periods, rate adjustment conditions and procedures. If different lending furniture store with bad credit rates apply depending on the circumstances, this information relates to all applicable rates.

In the case of a revolving credit within the meaning of article L. 311-16, the following statement is added: ”This rate is subject to revision. It will follow the variations in more or less of the basic rate that the lender applies to operations of the same kind or of the rate which appears in the scales which it distributes to the public. In the event of a rate revision, you will be informed in advance by mail before the effective date of application of the new rate. You can, within thirty days after receipt of this information, on written request addressed to the lender, refuse this revision. In this case, your right to credit ends and the repayment of the credit already used will be made in installments, unless you advise otherwise, under the conditions applicable before the modification that you have refused ”

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Finally, the credit institution has a duty to warn the banker against the risk of debt for the borrower. He must provide the borrower with explanations allowing him to determine whether the proposed credit agreement is suitable for his needs and his financial situation, in particular from the information contained in the sheet mentioned in article L. 311-6 of consumer code. It draws the borrower's attention to the essential characteristics of the credit (s) offered and to the consequences that these credits may have on their financial situation, including in the event of default.