Page contents Page contents Your consumer rights EU rules on consumer credit are designed to strengthen your consumer rights and to help you make an informed choice if you sign up to a credit agreement. Before you sign an agreement, the lender mustgive you standardised information free of charge to make it easy for you to compare offerstell you the annual percentage rate of charge (APR) – this tells you the total cost of the creditassess your creditworthiness i.e. your ability to pay back the credit in a sustainable wayYou can cancel the agreement within 14 days of signing. You can also repay the loan or credit at any time. EU consumer credit law Directive (EU) of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers and repealing Directive 2008/48/ECDirective 2008/48/EC on consumer credit agreements (pdf)Directive 2011/90/EU (pdf) annex to Directive 2008/48/EC; sets out rules on calculating the APRThe Consumer Credit Directive was revised in 2023 to ensure comprehensive consumer protection. The new Directive is broader in scope as it also applies to credit agreements whose amount is lower than the former EUR 200 threshold and to so called “Buy now, pay later” schemes. In order to support consumers with financial difficulties, member states are now obliged to establish debt advisory services. 2021 proposal for a Directive on consumer credits repealing and replacing the Consumer Credit Directive (2008/48/EC) New proposal for a Directive on consumer credits repealing and replacing the Consumer Credit Directive (2008/48/EC), 2021Annexes to the proposal for a Directive on consumer credits repealing and replacing the Consumer Credit Directive (2008/48/EC), 2021Impact Assessment on the Review of the Consumer Credit Directive (2008/48/EC) on credit agreements for consumers, 2021Executive Summary of the Impact Assessment on the Review of the Consumer Credit Directive (2008/48/EC) on credit agreements for consumers, 2021Regulatory Scrutiny Board Opinion on the Impact Assessment / Review of the Consumer Credit Directive, 2021Consumer Credit Review - Factsheet Reports on the Consumer Credit Directive 2008/48/EC Report on implementing the Consumer credit Directive, 2014 (pdf)Report on the evaluation of the Consumer Credit Directive, 2020Consumer Credit Directive Evaluation Staff Working Document, 2020Executive Summary of the Consumer Credit Directive Evaluation Staff Working Document, 2020Guidelines on the application of Directive 2008/48/EC (Consumer Credit Directive) in relation to costs and the Annual Percentage Rate of charge, 2012 Related studies REFIT Review of the Consumer Credit DirectiveStudy on possible impacts of a revision of the Consumer Credit Directive - Final report 2021Study on possible impacts of a revision of the Consumer Credit Directive - Annexes to the Final report 2021REFIT Evaluation of the Consumer Credit DirectiveStudy conducted on the current legal framework of the Consumer Credit Directive and its fitness for purpose, via an assessment of its effectiveness, efficiency, relevance, coherence, EU added value and potential for simplification and burden reduction.Supporting study of the evaluation of Directive 2008/48/EC on credit agreements for consumersStudy on the over-indebtedness of European householdsUpdated mapping of the situation, nature and causes, effects and initiatives for alleviating its impact.Study on European consumers' over-indebtedness and its implications - Final report 2023Study on European consumers' over-indebtedness and its implications - Annexes to the Final Report 2023Synthesis of findings on the over-indebtedness of European households 2013Country reports on the over-indebtedness of European households 2013 Related links Consumer credits and loans – Information on consumer rights (Your Europe)
