Consumer Credit

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Consumer Credit

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Digital Financia Consumer Credit: Make Your Plans a Reality

Dream big, act now! At Digital Financia, we understand that life is full of projects and aspirations. Whether it's a home renovation, a dream wedding, an around-the-world getaway or any other personal project, our Personal Loan is your ally in bringing them to fruition with complete peace of mind. It's the boost you need to shape your life the way you want it to be. Take the first step towards realizing your dreams.

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Consumer credit is used for private expenses not related to the borrower’s professional activity. It can be used to finance a variety of needs, including :

Equipment acquisition : Whether you need to replace a faulty household appliance or invest in the latest technology, Consumer Credit can cover essential purchases.
Personal Projects: From planning a wedding to renovating your home, this credit offers the funds you need to carry out important personal projects.
Travel and Leisure: Do you dream of traveling or treating yourself to some relaxation? Consumer Credit makes it easy to explore the world or enjoy your favorite pastimes.

What are the different types of consumer credit?

Personal Loan

A personal loan is granted to an individual to finance all kinds of needs. The funds are paid into the bank account in a single instalment, and repaid monthly with interest. A personal loan is a short-term loan with a fixed interest rate for the entire term of the contract. For example, if you're faced with a financial emergency, it's perfectly possible to take out a personal microcredit.

Affected credit

Affected credit (affected personal loan) is credit granted for a specific purpose:

a car ;
kitchen ;
of the work ;
and so on.

Affected credit offers the buyer several security advantages:

if the loan is refused, the purchase is automatically cancelled, except in the case of a change of payment method to cash;
repayment of the loan only begins once the goods have been delivered or the services rendered. Non-delivery, defective goods or non-performance of services will result in cancellation of the loan contract;
if the borrower withdraws from the loan within the statutory cooling-off period, the sale is cancelled;
a possible dispute during the contract may lead to suspension of repayment, and if the sale is cancelled, to termination of the loan.

Non-affected credit

The personal loan is granted to an individual to finance all kinds of needs, and is a no-account consumer credit. The funds are paid into the bank account in a single instalment and repaid monthly, with interest.

This type of loan is easier to obtain, but has a higher interest rate, since the bank or lending institution has no guarantees as to how the money will be used.

Revolving credit

Revolving credit or revolving credit consists of a reserve of money that the borrower can use freely, in whole or in part. As the borrower repays the sums spent during the term agreed in the contract, the initial reserve is replenished up to the authorized amount, and can be used again.

LOA

Most often used to finance vehicles, boats or IT equipment, Rental with Option to Purchase (LOA) is also known as "crédit-bail" or "leasing".

The consumer rents the property and pays a fixed monthly rent. At the end of the contract, the consumer can become the owner by paying the residual value fixed at the time of the agreement, or terminate the contract.

Free credit?

Some retailers offer their customers the option of paying for a purchase in instalments, free of charge. This is known as "free" credit, and allows customers to pay in 3, 4 or 10 instalments, free of charge.

This "zero-interest" loan must be signed for more than 3 months for it to fall into the category of consumer credit, and must comply with current regulations: seller information obligations, legal 14-day cooling-off period.

Personal microcredit

Personal microcredit gives people excluded from the traditional banking system access to credit to finance an urgent need or improve their financial situation. The amount of this consumer credit ranges from €300 to €8,000.

How does consumer credit work?

Once all the supporting documents have been submitted and the consumer credit contract has been definitively accepted, you'll need to wait at least 7 clear days to receive the funds. In addition, there is a statutory 7-day cooling-off period. You won't be able to collect the money until this period has elapsed. In general, you need to wait 14 clear days after final acceptance of the contract before the lender can disburse the funds.

Once the funds have been made available, you must start repaying your loan. The monthly repayments are defined according to :

the amount borrowed ;
repayment period ;
annual percentage rate (APR) ;
The APR itself is made up of various components:
the nominal rate of the loan ;
various fees such as administration fees;
loan insurance.

If provided for in the contract, the borrower may repay the loan in full or in part in advance.

However, the lender may object to a partial repayment if the amount is less than three times the future due date.

If the partial repayment exceeds 10,000 euros, an indemnity may be due.

In the event of financial hardship (job loss, illness, retirement), the borrower can apply to a magistrate's court for an instalment plan or temporary interest relief. However, the grace period is limited to two years.

The payment incident is said to be "characterized" if the unpaid instalments exceed three times the last instalment due, or if the unpaid instalment is not settled after three months.

If the lender takes legal action, these time limits do not apply. One month after the borrower has been notified, the incident is entered in the Banque de France's payment incident file, where it will be kept for five years.

In order to protect consumers while enabling them to choose the credit best suited to their needs and situation, and on the best terms, the French Consumer Code lays down a number of rules governing the form and conclusion of contracts. Since May 1, 2011, the provisions of the Lagarde law have reinforced this protection. The measures are as follows:

delivery of the standardized credit and insurance information sheet ;
assessment of the borrower's creditworthiness before issuing the preliminary offer ;
15-day cooling-off period from the issue of the preliminary offer;
7-day cooling-off period after signing the contract;
early repayment terms (with penalties where applicable).

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Digital Financia Personal Loan :
Your projects within reach

Opt for a Digital Financia Loan and benefit from a host of advantages to make your financial dreams come true.

95%

RELIABILITY

INTEREST RATE

100%

SPEED

Choose Digital Financia for your loan

One of the major advantages of our personal loans is the total freedom you have in using the funds. Whether you need to finance home renovations, a wedding, a dream vacation, or any other personal project, a Digital Financia personal loan is there to support you, without any restrictions.

We understand the importance of your financial privacy. At Digital Financia, we implement strict security measures to protect your personal information. Your privacy is our top priority, and you can be confident in the security of your transactions.

At Digital Financia, we don't treat our customers as mere numbers. We carry out a personalized assessment of each loan application. Your financial situation and specific needs are taken into account to offer you tailor-made loan conditions that match your reality.