General Terms

for credit intermediation and use of the Creditchoice system

General provisions

1. These Terms and Conditions set the order for use of the Creditchoice system for the purpose of assistance and mediation in applying for credit from a bank/financial institution as well as the relationship between the credit intermediary, clients and banks/financial institution.
2. The owner of Creditchoice is a commercial company “Creditchoice” Ltd. with UIC 204530592 and address in Sofia, Slatina, bl. 64, entrance A, floor 1, Apt. 2, represented by the manager Maria Georgieva, whom you can contact via e-mail maria.petkova@creditchoice.bg
3. “Creditchoice” Ltd. is a registered credit intermediary in accordance with the legal regulations of the Republic of Bulgaria, in compliance with the requirements of the Law on Consumer Credits. Registered in the BNB register with registration number BCI000020 and registration order 146742 / 20.09.2017 http://www.bnb.bg/BankSupervision/BSCreditIntermed/BSCIRegister/index.htm
4. “Creditchoice” Ltd. has the right to mediate for products and services offered by any financial institution, which operates on the territory of the country according to the Bulgarian legislation and which, on the basis of a signed contract with “Creditchoice” Ltd., has accepted to grant loans in mediation, according to its credit policy and credit legislation.
5. The Creditchoice website offers services that fall under the definition of “information society services” within the meaning of Art. 1, para. 3 of the E-Commerce Act and are only available to adult and capable users.
6. By entering www.creditchoice.com, by registering or performing any of the functions on the website, you declare that you have become familiar with these Terms and Conditions, understand them and accept them fully, and you are committed to respecting them.
7. The owner of Creditchoice reserves the right to modify the Terms and Conditions for which you will be notified by a post on the website. If you disagree with the changes, you may freely and at any time discontinue the use of Creditchoice.
8. If your legal rights are violated, you have the right to contact the Consumer Protection Commission (CPC) by submitting a complaint or an alert at its official email address www.kzp.bg.

Organization of work – Creditchoice

9. The Creditchoice website has an electronic database for data entry and retrieval as well as an information infrastructure for the exchange of information between consumers, credit intermediaries and commercial banks/financial institution for assistance and mediation in applying for credit.
10. All data submitted on the Creditchoice website are reliably protected. They are used only for the purpose of applying for loans. Creditchoice provides personal data to third-party users only with the express consent of users or in cases expressly provided for by law.
11. Each action on the Creditchoice website constitutes an “electronic statement” within the meaning of the Electronic Document and Electronic Signature Act (EDED), by which the consumer, the credit consultant or the relevant commercial bank/financial institution could be bound to the cases provided for by the law.
12. The “Credit Calculator” on www.creditchoice.com calculates approximate parameters of the consumer credit product.
13. Neither Creditchoice nor Creditchoice credit intermediaries are a party to the relationship between consumers and their chosen bank and/or financial institution. Granting a credit or receiving a withdrawal from the bank or the financial institution is a decision based on the bank’s/financial’s institution commercial policy and a match between the status of the consumer and the credit requirements for which the consumer applies.

User of Creditchoice

14. Creditchoice’s “Consumer” is any natural or legal person who cooperates with a credit consultant selected by Creditchoice for the purpose of obtaining assistance and mediation when applying for credit.
15. The consumer has the right to contact a credit consultant selected by Creditchoice and ask him for an expert opinion on the possibilities to be granted a loan under certain parameters, respectively – to apply for such credit.
16. When applying for a credit, the consumer must provide complete and correct information to the credit consultant – including but not limited to: personal data, property and marital status, employment, income, credit status, copies of necessary documents, etc.
17. The user declares that he/she voluntarily provides his / her personal information to the credit consultant for the purposes of applying for credit by accepting them to be entered into the Creditchoice system processed for the purposes of the application and provided to the respective lending banks and/or the financial institution. In case of violations related to the personal data of the user, he/she may contact the Commission for Personal Data Protection (CPDP) by submitting a complaint or an alert at its official website address www.cpdp.bg

Consumer Rights of Creditchoice under EU Regulation 679/2016

18. Right to be informed – Creditchoice provides the user with any information that affects his or her personal data when personal data are collected directly by the user or when they are not obtained directly from the user.
19. Right of access – the user may require confirmation of personal data relating to him or her. And this information should be given to him.
20. Right of rectification – the user may request that data be corrected for inaccurate personal data or for supplementing incomplete data.
21. The right of limitation of processing – the consumer may, in the presence of legal grounds, request a limitation on the processing of his personal data.
22. Data portability right  – the user has the right to receive personal data in a structured, widely used and in machine-readable format.
23. Right of objection – the consumer is entitled at any time to object to the processing of his or her personal data.
24. Rights about automated individual decision making, including profiling – the user has the right not to be subject to automated decision-making.
25. Right of deletion or “right to be forgotten” – the user has the right to request the deletion of the related personal data.
26. Right of withdrawal – the consumer has the right to withdraw his consent at any time and withdraw it as easily as he has given it.

Creditchoice Consumer Rights Prosecution Order

27. The consumer exercises his / her rights by submitting a written application to Creditchoice containing at least the following information: name, address and other identification data of the entity concerned; description of the request; the preferred form of information provision; signature, date of filing of the application and address for correspondence.
28. The submitting of an application is free of charge.
29. The time limit for considering and declaring on the application is 14 days from the day of filing the application, 30 days, respectively, when it takes more time to collect the requested data, in case of possible difficulties in Creditchoice’s activity.
30. The Company shall provide a written response and communicate it to the applicant personally by signature or by post, with acknowledgment of receipt, in accordance with the form of information provided by the applicant.
31. Where the data does not exist or the provision is forbidden by law, the applicant shall be denied access to them.
32. If Creditchoice does not respond to the request for access to personal data within the specified time limits or if the applicant is not satisfied with the response, he/she may exercise his or her right of defense.
33. The address, which accepts applications for access and provision of personal data from the registries of Creditchoice Ltd., is as follows: Sofia, 1414, Bulgaria 1, National Palace of Culture, Administrative building, floor 8, office 7-8, or by e-mail: office@creditchoice.bg.
34. Upon refusal to provide data or withdrawal of consent for data processing, the user will be informed that Creditchoice Ltd. will not be able to provide its services to the entity and could also not mediate between him and the creditor bank and/or the financial institution.

Credit consultant to Creditchoice

35. Creditchoice’s Credit consultant is each registered after the conclusion of a contract with Creditchoice Ltd. expert in banking and credit, who undertakes to cooperate and mediate Creditchoice clients in applying for loans in good faith and competently.
36. A credit consultant may require the consumer to provide all necessary information in connection with his application for a credit, shall not be responsible for the integrity and authenticity of the information and copies of documents provided by the consumer and may refuse to cooperate if the required information or copies documents are not provided or are provided with false or incomplete ones.
37. The credit consultant undertakes to provide competent assistance and mediation to the consumer in connection with his application for a loan on the basis of the information and copies of documents, provided by the consumer, by revealing in an understandable and comprehensive manner, in a user-understandable way, all conditions and circumstances surrounding the credit the user applies for.
38. The Creditchoice credit consultant is not responsible for the outcome of applying for a loan. The responsibility of the credit consultant is limited to the provision of competent assistance and mediation.
39. The credit consultant is identified with an official card issued by Creditchoice Ltd.

Rights and responsibilities

40. The Creditchoice team reserves the right at any time to change the design, content, technology and functionality of the website, including temporarily or permanently suspending part or all of creditchoice.bg services for a redesign, inclusion of additional functionality or for any other reason.
41. The Creditchoice team reserves the right to store information about all actions performed on the website and data provided to credit consultants for statistical and marketing research – without including access to any personal data of users, respectively – without including the possibility for individual or group identification of users.
42. The Creditchoice team reserves the right to place advertising material on the website in a way that it finds fit and is not responsible for the content of the promotional materials – insofar as they do not constitute an obvious violation of the law.
43. The Creditchoice team limits its responsibility to providing true and objective mediation when applying for a loan based on explicit information and copies of documents submitted by the consumer. The Creditchoice team is not responsible if the customer fails to provide complete, accurate and timely information to the credit consultant and is not responsible for the commercial bank’s and/or the financial institution judgment or changes to its credit policy.

Payments to Creditchoice

44. The Creditchoice team receives commission fees only in case of a realized loan – in amounts agreed between Creditchoice Ltd. and the respective commercial bank and/or the financial institution. The Consumer-Borrower should not pay anything to the credit consultant of Creditchoice Ltd. for the information and/or assistance he has provided.
45. The consumer should transfer to his chosen bank and/or financial institution the full amount of all fees and charges for processing documents, researches, assessments and other charges that the bank and/or the financial institution charges according to its commercial policy and tariffs.
46. Storing data in the site When visiting the Creditchoice site, it does not collect personal data. When visiting the site, information is collected that is not personally addressed to the user, that is, the IP address of his or her computer, the name of the local network or the company, the web site that has been visited before the Company’s site, the information the subject has searched on the Creditchoice website, as well as the date and time of the visit and the browser that was used. This information is collected and analyzed as the user remains anonymous. It is used solely to improve the attractiveness, content and functionality of the site. This information is not used further and is not forwarded to third parties.
47. Creditchoice’s site collects users’ personal data only in the case of a meeting/credit request. The data subject is then informed that he agrees to the processing of his or her personal data, processing objectives and rights under EU Regulation 679/2016. The user has the option of agreeing or refusing to receive information. Creditchoice has undertaken technical and organizational measures to protect the data provided online on the site. The form of the request is encrypted and there are no risks to the subject’s personal data.
48. The site of Creditchoice is encrypted and protected since there are antivirus and firewall defenses. The site uses cookies, but it does not collect and process personal data. A requirement to use the site via LogIn is not necessary. Site Login is required only by Site Administrators, requiring only username and password without any other details. Users do not require login information.
49. Data storage term. The data provided by the users shall be stored as long as it is necessary for the fulfillment of the relevant purpose for which it was collected or within a reasonable time according to the legislation in force. If the user withdraws the given consent to the processing of his or her personal data, Creditchoice will stop processing the user’s data and will, at his request, erase his or her personal data in accordance with the law. The user can withdraw the consent at any time, as easily as he has given it.

Additional provisions

50. Any disputes arising out of or relating to these General Terms, including disputes concerning their interpretation, invalidity, performance or termination, as well as disputes over filling gaps or adaptation to new circumstances, should be resolved by reasonable negotiations between parties, and in case of impossibility to reach a decision – by the Bulgarian court according to the relevant Bulgarian legislation.
51. The General Terms enter into force on the day of the publication of their latest update on the official website of www.creditchoice.bg. The last update of the General Terms was made on April 2, 2019.