Updated 05/02/2025
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Article 28

Article 28 - Directive 2021/2167 (Credit Servicers Directive)

Article 28

Amendments to Directive 2014/17/EU

Directive 2014/17/EU is amended as follows:

(1)

the following article is inserted:

‘Article 27a

Information regarding the modification of the terms and conditions of a credit agreement

Without prejudice to other obligations provided for in this Directive, Member States shall ensure that, prior to modifying the terms and conditions of the credit agreement, the creditor communicates the following information to the consumer:

(a)

a clear description of the proposed changes and, where applicable, of the need for consumer consent or of the changes introduced by operation of law;

(b)

the timescale for the implementation of the changes referred to in point (a);

(c)

the means for complaint available to the consumer regarding the changes referred to in point (a);

(d)

the time period available for lodging any such complaint;

(e)

the name and address of the competent authority to which the consumer can submit that complaint.’;

(2)

Article 28 is amended as follows:

(a)

paragraph 1 is replaced by the following:

‘1.   Member States shall require creditors to have adequate policies and procedures so that they make efforts to exercise, where appropriate, reasonable forbearance before foreclosure proceedings are initiated. Such forbearance measures shall take into account, among other elements, the consumer’s circumstances and may consist of, among other possibilities:

(a)

a total or partial refinancing of a credit agreement;

(b)

a modification of the existing terms and conditions of a credit agreement, which may include among others:

(i)

extending the term of the credit agreement;

(ii)

changing the type of credit agreement;

(iii)

deferring payment of all or part of the instalment repayment for a period;

(iv)

changing the interest rate;

(v)

offering a payment holiday;

(vi)

partial repayments;

(vii)

currency conversions;

(viii)

partial forgiveness and debt consolidation.’;

(b)

the following paragraph is inserted:

‘1a.   The list of potential forbearance measures set out in point (b) of paragraph 1 is without prejudice to rules set out in national law and does not require Member States to provide for all of those measures in their national law.’;

(3)

the following article is inserted:

‘Article 28a

Assignment of the creditor’s rights or of the credit agreement itself

1.   In the event of an assignment to a third party of the creditor’s rights under a credit agreement, or of the credit agreement itself, the consumer shall be entitled to plead against the assignee any defence which was available to the consumer as against the original creditor, including set-off where the latter is permitted in the Member State concerned.

2.   The consumer shall be informed of an assignment referred to in paragraph 1, except where the original creditor, by agreement with the assignee, continues to service the credit vis-à-vis the consumer.’.