What is it and what is the precise definition of consumer credit , one of the many forms of financing that are offered to various customers. We find out about the regulation that regulates this service and between whom the contract is signed. Finally, let’s see which companies offer business opportunities the opportunity to sign the agreement to offer consumer credit.
Consumer credit: definition and regulation of the contract
Consumer credit is a form of financing that is offered by some businesses to its customers. This is a very useful service both from the customer’s point of view and from that of the trader. Anyone interested in buying a good or service, in fact, may need a loan that allows him to defer the payment of the good or service in question. As far as the trader is concerned, without the possibility of offering his customers the possibility of paying in convenient installments, many activities would be forced to close down due to lack of buyers.
As established by Italian law, the consumer credit activity is the exclusive prerogative of banks , financial institutions , and commercial businesses that fall into particular categories, identified by the type of store. The latter may grant the loan to their customers only in the form of deferred payment, and to do so they must request authorization and enter into a contract of agreement with one of the institutes offering this type of service.
Among the categories of traders who can make the request for a convention we find, for example, the owners of car showrooms , sellers of household appliances and household items , or even sports or electronics . As we have said, consumer credit does not refer only to the sale of goods but also to services , therefore the travel agencies , the organizers of weddings and ceremonies , or those offering language courses are included in the commercial activities involved. also gyms and fitness centers .
So there are many categories of shops that can grant consumer credit to their customers. As far as the definition of this form of financing is concerned, it is good to specify how limits are defined, out of which we no longer talk about consumer credit. The minimum and maximum funding thresholds are defined by Law 142/1992, and are equal to 154.93 euros and 30.987.41 euros . In addition, all loans that do not provide for a deferral of payment but only the postponement of the same, which will take place in a single installment, is not part of consumer credit cases. The same applies to loans that do not provide for interest , as happens for loans between individuals, in the case in which to grant funding is for example a relative or a family friend.
Consumer credit company under agreement
If you own a business and you are interested in offering your customers consumer credit , what you need to do is contact one of the various financial companies that allow you to sign the agreement with them. Among the major companies in circulation we mention, for example, Argos , Fundomestic , and the subsidiaries of the Wealth Life Bank group.
To proceed with the request, simply visit the website of the company with whom you are interested in signing the agreement. Here you will find all the information about the methods of request and also all the ways of granting credit to your customers, once the agreement has been granted. For more information, you can contact customer service or make an appointment at one of the company’s branches.
If all the required requirements are respected by your business
then in a short time you can finally grant your customers consumer credit. Anyone buying at your store, therefore, may request to defer the payment for the good or service. To do so, the customer will make the request for credit through your business , and if successful, the bank will credit you the sum, which you will return through the installments paid by the purchaser of the product.