Wegweiser Consumers · Your rights when buying and contracting Deutsch

💳 Loans, instalment purchases and consumer insolvency

From 20 November 2026 new credit rules apply, including to buy now, pay later. In case of over-indebtedness, insolvency with a three-year assignment period helps.

Consumer credit Instalment purchase Buy now pay later Creditworthiness assessment Consumer insolvency Discharge of residual debt Debt counselling Withdrawal from a loan

In brief

Loans and payment by instalments cost money. Check interest and total amount. New rules come in November 2026.

  • Small loans of up to 200 euros and buy now, pay later are also covered.
  • You have a right to human review if an automated credit check decides.
  • The "eternal" right of withdrawal is limited to a maximum of 12 months and 14 days.

If you are over-indebted: debt counselling first. See also the pages on poverty and debt.

Step by step

  1. Check the total costCompare effective interest rate, term and total amount.
  2. Do not over-borrowTake on instalments only if you can be sure to pay them.
  3. Act early if you have payment problemsTalk to creditors, debt counselling.
  4. Consider insolvencyOnly with advice; discharge of residual debt after the procedure.

Deadlines

20 November 2026
Date of application of the Consumer Credit Directive 2023/2225Art. 48 Abs. 2 RL (EU) 2023/2225; implementing act BGBl. 2026 I Nr. 139 of 18 May 2026
12 months and 14 days
Maximum period for withdrawal in case of incorrect information (new)According to the Federal Government
3 years
Assignment period in insolvency proceedings§ 287 Abs. 2 InsO
Watch out – common mistakes
  • The implementing act was promulgated on 18 May 2026 (BGBl. 2026 I Nr. 139); entry into force 20 November 2026.
  • The new rules do not apply retroactively to old contracts (not checked).
  • Insolvency has consequences (Schufa, obligations). Not without advice.
  • Text form instead of notarial certification for general consumer loans, according to the Federal Government.
In depth · legal basis, figures and practice – for advisers and professionals

New credit rules 2026

According to the Federal Government, small loans of up to 200 euros, interest-free and fee-free loans, loans with a term of up to three months and "buy now, pay later" models are brought within the consumer protection rules. The "eternal right of withdrawal" is abolished; the period is limited to a maximum of 12 months and 14 days in case of incorrect information. In case of automated creditworthiness assessment there is a right to human review. Objective limits for credit interest that is excessive to the point of being contrary to public policy are written into law (figures not retrieved here). The consumer credit provisions apply from 20 November 2026 (promulgated BGBl. 2026 I Nr. 139 of 18 May 2026).

Consumer insolvency

Under § 287 Abs. 2 InsO, the application must be accompanied by a declaration that the debtor assigns their attachable claims to income for a period of three years after the opening of insolvency proceedings (assignment period) to a trustee. Further requirements of the procedure were not researched here.

Who is responsible
  • Debt counselling services (recognised bodies)
  • Verbraucherzentrale
  • Insolvency court
Further reading
Reminders, debt collection and SchufaAdvice and contact points

Quick questions

Worum geht es bei „Loans, instalment purchases and consumer insolvency“?
From 20 November 2026 new credit rules apply, including to buy now, pay later. In case of over-indebtedness, insolvency with a three-year assignment period helps.
Which deadlines and figures matter?
  • 20 November 2026: Date of application of the Consumer Credit Directive 2023/2225 (Art. 48 Abs. 2 RL (EU) 2023/2225; implementing act BGBl. 2026 I Nr. 139 of 18 May 2026)
  • 12 months and 14 days: Maximum period for withdrawal in case of incorrect information (new) (According to the Federal Government)
  • 3 years: Assignment period in insolvency proceedings (§ 287 Abs. 2 InsO)
What should I do first?
  • Check the total cost: Compare effective interest rate, term and total amount.
  • Do not over-borrow: Take on instalments only if you can be sure to pay them.
  • Act early if you have payment problems: Talk to creditors, debt counselling.
What do I need to watch out for?
  • The implementing act was promulgated on 18 May 2026 (BGBl. 2026 I Nr. 139); entry into force 20 November 2026.
  • The new rules do not apply retroactively to old contracts (not checked).
  • Insolvency has consequences (Schufa, obligations). Not without advice.
Evidence
  • Bundesregierung, Richtlinie über Verbraucherkreditverträge umgesetzt, retrieved 20 September 2026
  • Deutscher Bundestag, Bundestag beschließt Gesetz zu Verbraucherkrediten (kw16/2026), retrieved 20 September 2026
  • gesetze-im-internet.de, § 287 InsO, retrieved 20 September 2026
  • Noerr, Gesetz zur Umsetzung der Verbraucherkreditrichtlinie 2023 beschlossen, retrieved 20 September 2026
As of

September 2026 · Sources and method

A question about your situation that this page does not answer? Write to us or use the contact form – we will tell you which office is responsible and what to bring. Free of charge, without individual legal advice.