The Consumer Credit Act (ЗПК) prints a set of rights into every consumer credit agreement — before you sign, while you decide, and when you want out early. This page explains them in plain words. None of it depends on which lender you are talking to.
Before a consumer credit contract is concluded, the lender must hand you the pre-contractual information on the standard European form (SECCI): amount, term, type of interest rate, the APR (ГПР), the total amount you will repay, fees, and the consequences of missed payments.
It exists so that two offers can be put side by side before any signature.
If someone will not give you the form, or wants a signature first and "details later" — that is the comparison the form was designed to prevent you from skipping. Take the form home. It is free and it binds no one.
The annual percentage rate of charge (ГПР) may not exceed five times the statutory default interest rate. Contract clauses that go above that ceiling are not valid.
ГПР is the one figure built to carry the whole cost of the credit — interest plus the mandatory fees — expressed per year. The monthly instalment is not that figure.
Compare offers by ГПР, never by the instalment. A small instalment over a long term can hide a far more expensive credit. The ceiling itself is arithmetic from a public rate — no lender sets it.
You may withdraw from a consumer credit contract within 14 days of concluding it (or of receiving its terms, if later) — without giving any reason and without penalty.
You then return the principal and the interest accrued for the days you actually held the money, within 30 calendar days of sending the notice. Nothing else is owed.
Signed under pressure, or found a better offer a week later? The exit is already in the law. Send the withdrawal in writing and keep proof of the date — the 14 days are counted from the contract, the 30 days from your notice.
You may repay a consumer credit, fully or partly, at any time, and the total cost drops accordingly — the interest and costs for the remaining term fall away.
On a fixed-rate credit the lender may ask compensation of at most 1% of the amount repaid early if more than a year of the term remains, and at most 0.5% if less. For variable-rate credits and overdrafts, no such compensation is due.
A "penalty" of several percent for closing a consumer credit early is above what the Act allows. Ask for the payoff statement in writing and check the compensation line against the 1% / 0.5% ceiling before paying it.
ГПР only protects you if you know what it must contain — and what it legally leaves out. Tap each cost below and sort it for yourself. The answers follow the Consumer Credit Act's definition of the total cost of credit.
Non-bank lenders in Bulgaria appear in the Bulgarian National Bank's public register of financial institutions. A company offering credit that you cannot find there is a question to settle before any paperwork.
The SECCI pre-contractual form is yours by law, free, before signing. No form, no signature.
One number is the legal measure of cost; the other is a marketing convenience. You now know which is which.
Note the contract date. For two weeks, the decision is still reversible — in writing, with proof of sending.
Pavleks-97 EOOD is a Sofia-based company working in non-deposit financial intermediation — the arranging and administration of financing between businesses, without ever taking deposits or holding client money.
We publish this page because the cheapest consumer protection in Bulgaria is the part of the law people never read. Nothing here is an offer, a quotation or advice about a specific credit.
We do not take deposits. No money handed to a company like ours is a deposit, and the Bulgarian Deposit Insurance Fund protects deposits held with banks — nothing else.
Verify, don't trust. The Bulgarian National Bank's registers are public and free. For any company — including this one — the register, not the website, is the source of truth about status.