Article 3: Meaning of Consumer Financing and Amount of Financing

Meaning of Consumer Financing and Amount of Financing For the purposes of these Regulations, Consumer Financing is granted under a Financing Contract in case of any of the following: The repayment of a debt owed by a person (the Borrower) to another (the Creditor) is deferred; or a person (Borrower) incurs a deferred debt to another (Creditor). For the purpose of complying with Article 14(1) , the Creditor must calculate the Amount of Financing based on the Borrower's Gross Salary or monthly pension entitlement (as the case may be) when the application for Financing is submitted.