Original scientific paper
EARLY CREDIT REPAYMENT ACCORDING TO THE NEW CONSUMER CREDIT CODE
Emilija Čikara
; Pravni fakultet Sveučilišta u Rijeci
Abstract
The author in the article analyses consumer’s right to early repay his credit as an institute created for a better protection of consumers in the field of consumer credits. Apart from constituting the element of consumer protection, the right to early repay a credit stands as an instrument to stimulate competition due to its effect to enable better mobility of credit institutions clients. This highly important right is currently regulated by the provisions of Chapter IX on consumer credit of the Consumer Protection Act. Moreover, provisions of the Civil Obligations Act regulating the credit agreement have been subsidiary applied. As a consequence of further harmonisation of Croatian law with the European Union law, Croatian legislator adopted the Directive 2008/48/EC on Credit Agreements for Consumers by enactment of the Consumer Credit Code. The new Code being in force from the 1st of January, 2010, has radically reformed the early credit repayment issue. It presents an important lunge in respect to former solutions from the Consumer Protection Act. Therefore, the author made an effort to present in this article the most important novelties and advantages brought forward by the Consumer Credit Code in regard to legislative regulations currently in force governing the early credit repayment. Moreover, the author pointed at certain imperfections of the new early credit repayment regulations and suggested proposals de lege ferenda.
Keywords
right to early repay a credit; Consumer Credit Code; Consumer Protection Act; Civil Obligations Act; Directive 2008/48/EC; consumer credit; consumer loan; consumer protection
Hrčak ID:
53526
URI
Publication date:
8.4.2010.
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