THE INNOVATIONS THAT THE NEW CONSUMER PROTECTION LAW NR.6502 BROUGHT ABOUT IN TERMS OF CONSUMER LOANS

Consumer credit could be defined as the form of a loan to meet the financing of goods and services purchased. consumer credit allows the purchase of needed goods on time but with a later date of payment and with future income. consumer loans are regulated in article# 22, on the new consumer protection law # 6502. new consumer protection law # 6502 has brought important innovations on consumer protection. specific conditions in the contract forms, restrictions on modifications, the right of consumers’ withdrawal in a certain period of time, restrictions on interests and expenses which may be taken from the consumer credit borrower are the main innovations that protect the consumer.