Introductory provisions
section 1 of this Act applies to credit as a trader leaves or
offers a consumer. The law also applies to the credit granted
or offered a consumer other than a trader,
If the credit is conveyed by a trader on behalf of
the creditor.
The Act also provides for certain obligations of
credit intermediary (§ 48).
2 for the purposes of the Act
consumer: a natural person who is acting primarily for
purposes which are outside business activities,
trader: a natural or legal person who is acting for
purposes relating to the own business activity,
creditors: the credit or take over the
original creditor's claim,
credit agreement ' means an agreement about the loan, overdraft, respite
or similar,
credit: a credit agreement that involves a continuing right
to take advantage of a credit facility,
credit purchases: the purchase of a good or service is funded
by a credit granted by the
-the seller, or
– other creditors, if done due to a
agreement between it and the seller or if the goods or
the service specified in the credit agreement,
cash price: the price at which a product or service usually
offered to consumers in Exchange for cash payment,
credit cost: the total amount of the interest rates, fees and
other costs that the consumer must pay by reason of
the credit, except for notarial costs;
claim: the sum of the credit amount and the cost of credit,
credit interest rate: the interest expense per year for it at any time
unpaid portion of debt set as a rate,
effective interest rate: the cost of credit expressed as a yearly interest rate
calculated on the amount of credit, where appropriate in the light
mind that some payments to be made during the current
the credit period.
section 3 of the Act does not apply to statutory loan provided by the
State funds nor loans provided in the pawnbroker business
According to the Mortgage Bank Act (1995:1000).
4 section For another interest-free credit than debit account that is not
unions with more than an insignificant fee, payable
back within three months does not apply to the provisions relating to
information in 7 – 10 sections, if creditworthiness assessment in paragraphs 12 and 13, if
documentation of the credit agreement in section 14, if the right of withdrawal in the 21-25 sections,
on notification by the transfer in paragraph 28 or
If the termination of the credit agreement with open-end in section 37.
For an interest-free overdraft that is not connected with more than one
insignificant fee, to be paid back within three months
does not apply to the provisions relating to the information in paragraphs 7 to 10 and section 14 of the
the second and third paragraphs, if the right of withdrawal in the 21-25 sections, or if the
termination of the credit agreement with open-end in section 37.
For an account credit that must be paid back on the solicitation or
within three months does not apply to the provisions concerning information on
marketing in 7 section 4 – 6 and the third subparagraph of
information in the credit agreement in paragraph, if the right of withdrawal
in paragraphs 21 to 25, if the payment of the debt ahead of schedule in 32 to 36 § § or
If the termination of the credit agreement with open-end in section 37.
For a credit associated with mortgages on immovable property,
leasehold or tenant or similar right or which is
connected with the corresponding right in the building that are not related to
property does not apply to the provisions relating to payment plan in section 16,
If the right of withdrawal in sections 21-25 or on the termination of credit agreements with
open-end in section 37.
For a credit granted by a financial institution or
securities companies for the financing of a contract with the Institute
or the company for the purchase of financial instruments do not apply
provisions on information in 8 – 10 sections and section 14 of the other and
third subparagraphs or of termination of the credit agreement with indefinite
term in section 37.
paragraph 5 of The terms in comparison with the provisions of
This law is to the detriment of the consumer are void against the
the latter, unless otherwise provided by law.
Good kreditgivningssed
section 6 of the trader shall in its relation to the consumer
maintain a high degree of kreditgivningssed. The trader shall take into
be the consumer's interests with due care and give the
explanations provided by consumer needs.
Information on marketing
section 7 the trader shall in respect of the marketing of the credit agreement, with
indicating a representative example, please provide information on the
the annual percentage rate of charge for credit.
If any other rate or figure than the effective
the interest rate specified in the marketing, the trader shall also,
indicating a representative example, leave information
If
1. the borrowing rate, specifying if it is bound or
Mobile,
2. fees, and other costs that are part of the
the cost of credit,
3. the amount of the credit,
4. the duration of the credit agreement,
5. the total amount payable by the consumer and
the size of the payments, and
6. the cash price and the down payment required for credit purchases.
If the consumer is obliged to conclude an agreement on a
complementary service to the credit agreement, and the cost of
the service cannot be determined in advance, the obligation specified
in marketing in connection with the information on the
effective interest rate.
Information should be provided in a clear, concise and
prominent way.
Information before the credit agreement is concluded
§ 8 the trader shall in good time before the credit agreement is concluded
provide the consumer with information about
1. what kind of credit,
2. the creditor and credit intermediary's name,
corporate identity number and address,
3. amount of credit and the conditions governing the use of the credit,
4. the duration of the credit agreement,
5. product or service and its cash price on credit purchases,
6. the borrowing rate, the conditions governing the credit interest rate and an indication of
the reference index or reference rate and timing, procedures
and other criteria for changing the borrowing rate;
7. the effective interest rate, indicating a representative
example, and the total amount to be paid by
the consumer,
8. payments the amount, number and expiration dates, as well as
the order in which payments will be allocated to the
credits with different borrowing rates; If a payment is not deducted
but is saved or invested for the consumer's behalf, it shall
is specified,
9. charges in respect of the credit agreement and the conditions of
modification of the charges,
10. the notary fees,
11. the obligation to conclude an agreement on a supplementary service
with the credit agreement,
12. default interest and conditions for modification of the
fees payable for defaulting;
13. penalties for delay in payment;
14. the sureties,
15. the presence or absence of a right of withdrawal,
16. the consumer's entitlement to early repayment, as well as the creditor's
the right to an interest rate differential compensation and how this compensation shall
is calculated,
17. consumer's right to receive information that a credit is not
granted,
18. consumer's right to a draft credit agreement,
and
19. the time during which the offer is valid.
The information shall be given in the form "the standard European
consumer credit information ". The form shall be provided
the consumer in an act or in any other human readable and
lasting form that is available to the consumer. If the agreement on
the consumer's request to be concluded by a means of
means of distance communication which does not allow that the information given in the
such form prior to the contract, the trader shall provide the consumer with
the information in this form as soon as possible after the agreement has
concluded. Information on the form shall be limited to that which
specified in the first subparagraph.
If the consumer so requests, the trader shall provide free of charge
him or her a draft credit agreement.
In the case of credit connected with mortgage-
property, leasehold or tenant or similar right or
associated with the corresponding right in the building that are not related to
property, the trader will need only provide the information
set out in paragraph 7 of the first paragraph and the second paragraph 1 – 4. Information
must be submitted in one document or in any other human readable and
lasting form that is available to the consumer.
section 9 in the case of an account credit that must be paid back on
solicitation or within three months, the trader will need only
Please provide the information specified in paragraph 1, 2, 4,
6, 9, 12, 17 and 19. The trader shall in addition submit
information on the amount of credit, the APR with
indication of a representative example and the conditions and
the procedure for terminating the credit agreement. If the agreement is
that the consumer may be requested to repay the whole of the
outstanding credit, information shall be provided even if the.
All data shall be equally prominent but they don't
be given in a particular form.
section 10 By telemarketing of a credit is applied instead
for section 8, first subparagraph, and paragraph 9 what
is provided in Chapter 3. paragraph 4(1) Act (2005:59) about
distance and off-premises contracts. The description
of the financial service main characteristics
under that subparagraph shall include information on
1. amount of credit and the conditions governing the exercise of
the credit,
2. the duration of the credit agreement,
3. the product or service and its cash price on credit purchases,
4. the borrowing rate, the conditions governing the credit interest rate and an indication of
index or benchmark rates and times,
procedures and other conditions for changing the borrowing rate;
5. the effective interest rate, indicating a representative
example, and the total amount to be paid by
consumer, and
6. installment size, number, and expiration dates
as well as the order in which payments will be allocated to the
credits with different borrowing rates.
In the case of a loan referred to in section 9, shall
the description shall contain information on the amount of credit,
credit interest rate with terms for and an indication of
the reference index or reference rate and the annual percentage rate of charge
indicating a representative example. If the agreement
means that the consumer may be asked to pay back the entire
the outstanding credit, shall also be indicated. Law (2014:17).
Penalties for non-payment information
section 11 If information specified in §§ 7 and 10 are not provided, the
the Marketing Act (2008:486) applied with the exception of
the provisions of sections 29 to 36 on market interference charge. Such
information shall be deemed to be substantial under section 10, third paragraph
the Act.
Credit check
section 12 of the trader should consider whether the consumer economic
prerequisites to fulfil what he or she undertakes under
the credit agreement. Credit assessment shall be based on adequate
information regarding the consumer's economic circumstances. The credit may
be granted only if the consumer has economic conditions
to fulfil its commitment.
By an increase in the credit that is essential to a new
credit check to be done.
section 13 is not granted credit, the trader shall notify
the consumer about the cause of it. It depends on the tasks that
derived from an external database, the consumer shall promptly and without
cost shall be informed of the data and which database
been used.
Documentation of the credit agreement
section 14 of the trader must document the credit agreement,
record contract in a document or in any other human readable and
lasting form that is available to the consumer.
The document shall, in addition to the terms of the agreement, contain the information
referred to in paragraph 1 to 6, 8 to 10, 12 to 14 and 16.
In addition, the document should include information on
1. the consumer's name, social security number and address,
2. the effective interest rate of the assumptions underlying the
for the calculation of the interest rate and the total amount to be
be paid by the consumer,
3. consumer's right to a payment plan,
4. requested insurance,
5. the presence or absence of a right of withdrawal, the withdrawal periods
and other conditions for the exercise of the right of withdrawal, including
the obligation to pay the principal and interest, as well as the amount of interest
per day,
6. the consumer's right to make objections under section 29
for credit purchases,
7. the procedure for terminating the credit agreement;
8. What are the possibilities to get a dispute with
trader access outside the Court and how the consumer in so
case to proceed, and
9. the supervisory authority with the indication of the address.
The data shall be provided in a clear and concise manner.
The consumer shall receive free of charge a copy of the document.
15 § in the case of an account credit that must be paid back on
solicitation or within three months, in paragraph 14 of the intended
the document, in addition to the terms of the agreement, contain the information
set out in paragraph 1 to 4 and 6. The document should in addition
include information about the consumer's name, social security number and
address, the effective interest rate of the assumptions underlying the
the basis for the calculation of the interest rate and the total amount
to be paid by the consumer, the process to terminate
the credit agreement and charges and conditions for modification of the
the fees. The agreement means that the consumer may be requested to
pay back all the outstanding credit, also the
specified.
Payment plan
section 16 of the consumer has a right to receive a
summary that shows when the capital, interest and fees shall
paid. If the interest rate is not bound, or if the fees are subject to change,
the Assembly should contain a statement that the terms of
until the interest rate or fee changes.
Interest and fees
section 17 this rate may be changed only if it has been agreed.
This rate may be changed to the detriment of the consumer only in the
extent that it is justified by the credit policy decisions, increased
borrowing costs of the creditor or other
cost increases that the creditor could not reasonably anticipate
When the agreement was concluded. At the credit associated with mortgages
real property, leasehold or tenant or similar right
or that is associated with the corresponding right in the building that are not
related to real estate with a total duration of at least 30 years and
with an interest rate that is fixed for a certain part of the term, at least
three months, however, the creditor, if there are reservations about
the agreement, entitled to at the end of a such part of
the term change the interest rate to match the rate that
the creditor at the time generally applies to new
credits of the corresponding kind.
Notwithstanding the second subparagraph, the interest rate changes for certain
way in connection with the changes in a benchmark interest rate that
the creditor has no significant influence. A
contract terms if this may be subject to an exception to
the interest rate under specific conditions should be changed more
or less than that resulting from the connection to the reference rate.
The exemption shall be determined so that it does not become less favourably
for the consumer than for the creditor. It shall comply with the requirements of
second paragraph.
The creditor is required to apply a term if
interest rate changes in the same way to the consumer's benefit to
his or her detriment.
section 18 of the borrower is obliged to, in addition to or instead of
interest rate, pay special compensation for the credit (charge) only
If it has been agreed upon, and if such compensation relates to costs
the credit granter is for credit. If costs can be distinguished,
may charge separately for each such charge.
Fees for credit may be changed to the detriment of the consumer
only if it has been agreed upon, and to the extent that it
justified by increases in the costs to be covered by
the fees.
section 19 of the creditor shall inform the consumer of the
interest rate change before it takes effect. The notification shall be provided
in a document or in any other legible and durable form as
is available to the consumer. In the case of credit which is
associated with mortgages on real property, leasehold or freehold
or similar right or which is connected with the corresponding right in
building not belonging to the property, the creditor may, in
rather than notify the consumer of a change in interest rates by
advertising in newspapers. Notification is done through advertising,
the consumer shall be notified personally not later
the next notification or account statements.
A change in interest rates depends solely on a change in a reference rate
which the creditor has no control of,
the consumer may instead be informed periodically, during
provided that the parties have agreed on it and the new
the benchmark rate has been published and is available at
the creditor.
Account statements and notices on overdrafts
section 20 of overdrafts, the creditor shall regularly
provide the consumer with account statements. An account statement shall
indicate:
1. the period to which it relates,
2. the preceding statement closing date and balance,
3. collection and the date of the jacks,
4. payment and date of payments,
5. the new balance,
6. the borrowing rate and the charges applied for the period,
and
7. the amount that consumers are liable to pay.
The creditor shall inform the consumer of a fee increase
before it takes effect.
If the agreement is possible for consumers to exceed
a credit limit, the creditor shall regularly inform the
consumer credit rates and conditions of the credit interest rate
the indication of the reference index or benchmark rates and fees
and conditions for modification of fees. Have overrun
lasted one month, the creditor shall immediately inform the
the consumer of the excess debt and credit interest rate on
the debt and if the fee or interest due
the overshoot.
Statement of account referred to in the first subparagraph and notifications under
the second and third paragraphs shall be submitted in one document or in
any other legible and permanent form which is available for
consumer.
The consumer's right of withdrawal
section 21 gives the consumer a right to withdraw from the credit agreement
(right of withdrawal) by the creditor leave or send an
notice within 14 days from the date specified in section 22
(cooling off period).
section 22 of the withdrawal period begins from the date of conclusion of the credit agreement,
but no earlier than the day on which the documentation referred to in section 14 will
received by the consumer.
section 23 Has the consumer in good time and in an appropriate manner
left or sent a message that he or she
withdraw from the credit agreement, getting the message invoked although it
delayed, mutilated or cannot be identified.
section 24, if the consumer exercises his right of withdrawal, he shall
as soon as possible and at the latest within 30 days from the date on which the consumer
left or sent his message to pay back the amount
obtained from the creditor, with the addition of accrued
interest on the amount. Interest shall be payable from the date of
the consumer had access to credit to the date
It will be refunded. If the grantor by reason of
the credit agreement have paid a fee to the public which do not
will be refunded, the consumer is obliged to pay the creditor
for this.
The creditor shall, as soon as possible and at the latest within 30 days from the day
then the creditor received the consumer's message that
repay the credit cancellation charges
the consumer has paid by reason of the credit.
section 25 if the consumer exercises his right of withdrawal and the following
of the credit contract is a related service agreement
provided by the creditor or by someone else on
because of an agreement between it and the creditor,
the related contract expire without the consumer
may be imposed any sanction for this.
Down payment on credit purchase
at paragraph 26 of the purchase of a commodity seller shall take out a
down payment by the buyer in accordance with good kreditgivningssed.
Down payment shall be equal to at least 20% of the
cash prize, unless there are special circumstances causing the other.
As a deposit is not considered to be payment by buyer resources
may borrow by the seller or by any other creditor because
by an agreement between him and the seller.
section 27 if a trader for their own or someone else's
Bill sells a product without complying with section 26,
constitute an action in violation of paragraph 5 of the Marketing Act
(2008:486).
The consumer's rights in the event of transfers of receivables
section 28 where the creditor has relinquished its rights under
the credit agreement, the consumer may at the new creditor do
the same objections that he or she could transfer
make against the assignor. The same shall apply when the creditor has
pledged their rights under the credit agreement.
The transferor shall inform the consumer about the transfer, if not
assignor has committed to continue to meet
the obligations under the credit agreement.
The purchaser's right to present objections at the credit purchase
section 29 for credit purchases, the purchaser against creditor's demands on
payment submit the same objections because of purchase that
He or she can do against the seller. The buyer may also object
that he or she has paid to the seller or have a
agreement with him. However, this does not apply if the buyer
knew that the seller was not entitled to receive the payment or
conclusion of the agreement, nor if the purchaser intentionally
or recklessly failed to acquire knowledge of
this.
If the purchaser by reason of the purchase have a claim to reimbursement,
damages or any other monetary performance, answering creditor
as with the seller to claim. The creditor is
not, however, be required to pay more than what is received by the
the buyer, by reason of the credit.
Prohibition of operating receivables documents at credit purchase
section 30 for credit purchases, the creditor will not accept one of the buyer
input AC connections relating to a receivable due
credit purchase. The creditor may not be evidence of their
the claim to receive one of purchaser issued promissory notes
or any other of this entrance liability is
such that the purchaser's right to make objections
due to the purchase be curtailed if the debt instrument is transferred or
pledged to a creditor who is in good faith.
The first sentence of the first paragraph does not apply to private bills that are
issued by banks.
Anyone who intentionally violates a prohibition under this section
shall be liable to a fine.
Prohibition of certain settlement
section 31 of the Amount which the consumer pays for the settlement of certain
the claim by reason of the credit grantor may not first
set off on another claim.
Payment of the debt ahead of schedule
32 § consumers have the right to pay its debt to the
the creditor before the agreed maturity. If the debt
be paid prematurely, the creditor has the right to compensation in the
extent specified in § 36.
33 § creditor shall have the right to early repayment only
If the reservation has been made on this in the agreement, and
1. the consumer for more than a month is in delay with
payment of an amount exceeding ten per cent of
credit claim,
2. the consumer for more than a month is in delay with
payment of an amount in excess of five percent of the
credit claim and the delay covers two or more items
expired at different times,
3. the consumer in any other way is in substantial delay
with the payment,
4. Security for credit has significantly deteriorated,
or
5. it is clear that the consumer by deviating, get
away property or act in any other way have evaded
to pay its debt.
If the security of the credit is made up of the subject if
withdrawal right, the creditor is entitled to payment of
prematurely because of worsening security only if the consumer
intentionally or through gross negligence has caused the
safety significantly deteriorated.
If a credit is associated with mortgages on real property, leasehold
or condominium or similar right or is associated with
corresponding right in the building that are not related to the property,
the creditor the right to early repayment on the basis of
worsening security only if the security has significantly
deteriorated due to any reason other than a General
price decrease on the relevant market.
In the case of credit associated with mortgages on immovable property,
leasehold or tenant or similar right or which is
connected with the corresponding right in the building that are not related to
real estate and interest rate on the credit is tied to all or a
part of the term of the contract, subject to a minimum of three months, the creditor
in spite of first to third paragraphs right to early repayment
on the date on which the period for which the rate is fixed.
However, this applies only if there have been reservations about it in
Agreement, and there are serious reasons. Law (2014:201).
section 34 If the creditor wants to get paid ahead of schedule according to § 33
first paragraph 1 – 3, or the fourth subparagraph, applies a
notice period of at least four weeks from the time
When the lender sends a notice of termination in
registered mail to the consumer in his usual
address or cancellation without such action will
received by the consumer.
If the creditor has required early repayment pursuant to § 33
first paragraph 1 – 3, the consumer is still not required to
pay early, if he or she is before the end of
the period of notice to pay the amount due together with
interest on late payments. The same applies if the consumer in the event of termination
According to paragraph 33 4 or 5, or according to others, or
the third paragraph of the same article immediately after termination
or within the period of notice set admitted acceptable security
for the claim.
If the consumer previously by virtue of the second paragraph has
exempted from the obligation to pay the debt early,
does not apply to the paragraph. Law (2014:201).
§ 33 35 notwithstanding paragraph 4, the creditor shall
invoke the provisions in different laws on the right to the payment of
early due to a security for the credit has
deteriorated.
36 § the early repayment pursuant to §§ 32-35, the consumer shall
pay interest and other costs of the credit for the period up
to the early repayment, but not beyond. When
the creditor's claim is calculated to the grounds stated in
compliance with good kreditgivningssed are applied.
The creditor must not be a substitute for
that the debt be paid prematurely. If the borrowing rate is fixed once
the early repayment is made, however, the creditor has the right to take
out an interest rate differential compensation by the borrower for the time
remains, if the subject has been done on this and in the
extent that it is consistent with good
kreditgivningssed.
An interest rate differential compensation may
1. for credit associated with mortgages on immovable property,
leasehold or tenant or similar right or which is
connected with the corresponding right in the building that are not related to
property up to a maximum equal to the difference between the interest rate on the credit
and the interest rate at the time of payment in General
for mortgage bonds with a maturity equal to the
remaining maturity increased by one percentage point, and
2. for other credit up to a maximum equivalent to one percent of the
förtidsbetalade, or, if at the time of
the early repayment is less than a year left of
the duration of the credit agreement, one half of one percent of the förtidsbetalade
amount. The compensation may not, however, be greater than the
amount that the consumer would have paid in interest during the
remaining term to maturity under the credit agreement.
An interest rate differential remuneration shall not be charged for the part of
the interest rate that is matched by a guarantee fee, when State
the guarantee has been provided and the fee charged for the warranty.
Compensation may not be charged for a payment of a
account credit or payment from an insurance
guarantees the repayment of the credit.
If the creditor uses a right to repossess goods under section 38, §§ 40 and 41 shall apply when the deal will be done between the parties. Law (2014:201).
Termination of open-end credit agreements
37 § Consumer may at any time cancel a credit agreement with
open-end. If any notice period has not been agreed,
the agreement ceases to apply immediately. If a notice has
agreed, agreement ceases to be valid on the date of the notice periods
expires. The notice period may not be longer than one month.
The creditor may not terminate an open-end credit agreement
only if it has been agreed. The period of notice shall be not less than two
months. Has the consumer has not used the credit,
the creditor terminate the credit agreement will cease immediately, if
It has been agreed upon and are reasonable. The consumer shall, before he
or she loses the right to be informed of the credit
the termination and the reasons for it. If there are particular
reasons, intelligence instead left immediately thereafter.
A termination or a notice referred to in the second subparagraph, the
be given in a document or in any other legible and durable
the form that is available to the consumer.
Repossession law at the credit purchase of be
38 § subject to readmission right referred to a term
that will give the creditor the opportunity to take back the goods, if the buyer
do not fulfill their part of the credit agreement is bought.
A reservation may be invoked if only readmission
provided
1. that the seller has made the reservation in connection with the purchase of
to safeguard their right to payment, as well as
2. that the time has entered the consumer according to 33 and
34 §§ shall fulfil his obligation to pay in advance.
If the purchaser, before the goods are taken back, paying what is due for
payment together with interest and costs in accordance with the grounds
as set out in section 40 of the third to fifth subparagraphs of paragraph 2, the creditor shall not
reclaim the goods because of late payment. Is based
taking back the right to security for credit has deteriorated
or that the buyer have evaded paying their debt,
the creditor does not reclaim the goods if the buyer before the item is withdrawn
sets acceptable security for the claim.
39 § Use trader subject to readmission in
sale of goods by reference to their nature
or its value or because of market conditions
not suitable as a credit collateral, the trader should be prohibited
in similar cases in the future use of such reservations. In
ask if the prohibition applies in other respects the Act (1994:1512) if
contractual conditions in consumer relationships.
Settlement when an item is withdrawn
40 section where the creditor would make use of a right to repossess goods,
should settlement made between the creditor and the purchaser.
At settlement, customer shall be credited the value at
the repossession. The value calculated according to what the creditor is likely to
get through to sell the product.
The creditor may not be the unpaid portion of the
credit claim after deduction under section 36 and
case default interest, but not according to the higher rate of interest than that
specified in section 6 of the interest Act (1975:635).
The creditor may also be reimbursed for
the execution fee, reasonable cost of transport of goods and
expense for appearance at the Ordinance for readmission if
the creditor has had to suspend themselves in order to safeguard their
right. When the compensation is determined for the expense for appearance
rules apply to the calculation of compensation of
public funds to witness.
In the case of official assistance for repossession, the creditor
credited even reasonable compensation for work with
reason of proceedings and fees to agents or counsel.
section 41 If the buyer at settlement be counted a major
than the creditor receives goods repossessed only if
the creditor pays the difference to the buyer or, when
goods valued by the Swedish Enforcement Administration, reduces
the difference in authority.
Does the creditor to repossess the goods had to
pay a debt buyer, grantor when first
subparagraph shall apply such payment set off against difference
for the buyer's benefit. The same applies if the creditor to
after repossession should be able to be used in the intended manner have
had to pay such a debt.
Credited the creditor a greater amount than the buyer,
the creditor cannot claim the difference (restskulden)
except in the event the product has been reduced significantly in value through
buyer vanvårdat.
Redeeming a be withdrawn
42 § buyer may within fourteen days to redeem an item that has
withdrawn. The buyer would like to redeem the merchandise, he or she
pay the creditor the value upon withdrawal as well as the
residual debt/outstanding finance that may exist under the settlement.
Assistance for repossession of goods, etc.
43 § creditor, of the Swedish enforcement authority search
helping hand to reclaim the goods provided that the
regarding credit purchase in an act or in any other human readable
and enduring form which is available to the buyer has
documented information on the caveat about repossession law,
cash price, the amount of credit, the duration of the credit agreement,
credit claim and the timing of payment. The document should
have been signed by the buyer or signed by him with a
such an advanced electronic signature within the meaning of section 2 of the Act
(2000:832) of qualified electronic signatures.
An application for assistance shall be made in writing. It should
listed in application on the proportion of credit claim that remains unpaid.
If the creditor claim default interest, it must also
be stated in the application what the creditor claims in that part. A
certified copy of the document referred to in the first subparagraph shall
be annexed to the application. Law (2012:69).
44 § assistance may be granted only if it is clear that
the conditions for readmission set out in section 38 and
third subparagraphs.
If a subject of repossession law has been used in violation of
the prohibition under section 39, the assistance is not granted.
Enforcement or enforcement of a judgment, by which the buyer has
ordered to return goods that have been sold with
subject to readmission rights, shall not be granted in respect of
such goods according to Chapter 5. 1 – 3 of the enforcement code shall
be exempt from garnishment.
45 § in the case of enforcement and enforcement of the judgment, that
set out in paragraph 44, applied in the other 12 section and
third subparagraphs as well as 15-18 § § lagen (1978:599) if
hire purchase between traders and others, in which case the reference
in paragraph 16 of the third subparagraph of paragraph 10 should refer to section 41
the first paragraph of this law.
Prohibition of enforcement
46 § be sold subject to readmission rights may
not be seized of a claim which is based on credit purchase.
Choice of law
47 § a term indicating that the law of a country outside the
The European economic area shall apply to
the credit agreement does not apply in respect of the rules concerning credit agreements, if
the law disregards the condition is the law of a
country within the European economic area and the law
give consumers better protection.
Certain obligations of credit intermediaries
48 § a trader who, without being a creditor and against
compensation, offer a credit agreement, assists a consumer before
a credit agreement or enter into a credit agreement as agent for
creditor (credit intermediaries) will be at marketing as
directed to consumers, provide information about whether
the housing service is in collaboration with some creditors or is
independent.
Credit intermediary shall inform the consumer of the fees
the consumer shall pay to the credit intermediary for his
services. Such fees may be applied only if the information
have been given and the credit intermediary, the consumer before
the conclusion of the credit agreement have agreed on it in a document or in
any other legible and permanent form which is available for
consumer. Credit intermediary shall also inform
the creditor about the charges.
If the information is not provided, the Marketing Act
(2008:486) applied with the exception of the provisions of sections 29 to 36
If the market disturbance fee. The information to be provided to the
the consumer shall be regarded as essential under section 10, third paragraph
Marketing Act.
Supervision
49 § Consumer Agency supervises compliance with this law.
Agency's oversight does not cover the Sveriges riksbank,
activities under the supervision of the Swedish financial supervisory authority or
activities with enforcement authority. With activities
under the supervision of the Swedish financial supervisory authority does not include activities that
are subject to supervision according to law
(2014:275) if certain activities with consumer credit.
Supervision shall be exercised so as not to cause greater cost
or inconvenience than is necessary. Law (2014:276).
50 section for supervision have Consumer Agency or the Agency
ordains the right to carry out inspection of operators
engaged in sales or in their professional
business leaves, conveys or assumes the credit referred to in
This Act and to consult all the documents necessary for
supervision. The trader shall provide the information if
activities required for the purposes of supervision.
If a trader does not provide documents or
provide information in such a case referred to in the first
subparagraph, the Swedish consumer Agency shall submit to the trader to
fulfil his obligation. A decision on the injunction may be subject
with a penalty.
section 51 if the trader fails to comply with section 12, the Swedish consumer Agency
notify the trader a warning. A warning should be reconciled with the
a fine, if the infringement is not made. Fee
to the State.
If the trader previously announced a warning or if
the offence is particularly serious, the Swedish consumer Agency
submit to the trader to cease to provide credit.
A decision on the injunction may be subject to a penalty.
In determining whether an infringement is particularly serious
shall take particular account of whether the trader repeatedly
jobs has failed in its duty under section 12 and if
the failures are systematic. Law (2014:83).
52 § fine must be determined to not less than five thousand
kroons and not more than SEK 10 million.
The fee shall not exceed ten per cent of the trader
turnover in the last financial year. If the infringement
have occurred during the first year of the trader or
data on turnover are otherwise missing or
flawed, turnover is estimated.
When the amount of the fee is determined to be taken in particular of the
the gravity of the infringement, which prompted the warning.
Levy, remitted in whole or in part, if there is
special reasons. Law (2014:83).
53 § fine to be paid to the consumer agency within the
thirty days from the day the decision became final, or
within the further period specified in the decision.
If the fee is not paid within the time limit referred to in the first
subparagraph, the Consumer Agency leave the unpaid fee for
recovery. Provisions of the Recovery Act
(1993:891) for the recovery of State assets etc. at
the recovery must be done according to code enforcement enforcement.
The charge falls away to the extent enforcement
within five years from the day the decision became final
force. Law (2014:83).
Appeal
section 54 of the consumer agency decision under section 50, 51
and 52 sections may be appealed to the administrative court.
Other decisions by the Swedish consumer agency under section 50 shall not
subject to appeal.
Leave to appeal is required for an appeal to
the administrative court. Law (2014:83).
Transitional provisions
2010:1846
1. This law shall enter into force on January 1, 2011, when
the consumer credit Act (1992:830) is repealed.
2. in the case of credit agreements concluded before the entry into force
terms of the repealed Act. For open-end credit agreements
However, 19, 20, 28 and 37 sections from its entry into force.
2014:83
1. this law shall enter into force on 1 april 2014.
2. The new rules apply only when deficiencies in
creditworthiness of credits granted after
the entry into force.
2014:201
1. this law shall enter into force on 1 July 2014.
2. The new provisions also apply to credit agreements which have
concluded prior to the entry into force. For credit agreements with a
credit interest rate that is tied to its entry into force does
older provisions on an interest rate differential remuneration of its
fixed-rate period expires.
