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National campaigns - Ireland

Want to know more about your consumer credit rights in Ireland?

This page provides you with information on your key rights when taking out credit, upcoming events and links to useful websites.

Your key consumer credit rights in Ireland

The right to transparent advertising

All advertising concerning credit that states the interest rate or any figures related to the cost of the credit must contain certain information to help you compare different offers and shop around for the best deal. It must include a representative example, which will give you a clear and balanced view of the nature and costs of the credit.

The right to pre-contractual information

A credit provider is obliged to give you key information in good time before you sign a credit agreement. You should receive this information in a clear, standardised format called the Standard European Consumer Credit Information form (SECCI).

The right to clear information in the contract

You have a right to receive a copy of the credit agreement you have signed. The credit agreement must be written in clear and concise language. It must state details of the type of credit and the total amount owed. It should also include the Annual Percentage Rate of Charge (APR), unless it concerns certain overdraft facilities.

The right to change your mind

If you’re having second thoughts about a credit agreement you have signed, don’t forget that you can withdraw from the agreement within 14 days of signing. You will, of course, have to pay back the money you borrowed, plus interest and any non-refundable charges already paid by the credit provider.

The right to repay early

You can repay your credit early. You may, however, have to compensate the credit provider for their lost income, if the amount you repay exceeds EUR 10 000 within 12 months. The compensation can’t exceed between 0.5-1 % of the amount repaid early.

May 24 - 2013

Consumer Credit campaign launch

Launch of the EU Consumer Credit campaign in Dublin, in the presence of Tonio Borg, EU Commissioner for Health and Consumer Policy and the Minister for Finance, Mr Michael Noonan.

Place: EC Representation Offices - Dawson St, Dublin City