The Standard European Consumer Credit Information form
Short answer
Before concluding a consumer credit agreement in Bulgaria, the lender must provide the pre-contractual information on a standard European form whose template is set out in the Consumer Credit Act.
Why the format is the same for everyone
The form is standardised precisely so that offers can be compared. Two offers in two adverts look incomparable; the same two offers in identical fields compare line by line. That is why the form is requested from both lenders before choosing.
The fields that decide
The total amount of credit, the total amount payable, the annual percentage rate of charge, the borrowing rate and its type, the term, the number and size of instalments, all fees, the conditions for early repayment and the consequences of late payment. The difference between two offers is almost always in these fields, not in the advertising message.
What it means if you are not given one
Providing pre-contractual information is an obligation of the lender, not an optional service. A refusal or a delay “until signing” is a signal in itself: the document exists to be read before the decision, not after it.
Frequently asked questions
- Does the form bind the lender?
- It reflects the terms of the credit offered at the moment it is given. What binds is the concluded contract — which is why the figures in the two documents are checked against each other before signing.
- Can I ask for it by email?
- The form is provided on a durable medium. Receiving it in writing is also practical: it leaves a record of the date and the terms it carried.
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