(2)

Article 28 is amended as follows: paragraph 1 is replaced by the following: ‘1. Member States shall require creditors to have adequate policies and procedures so that they make efforts to exercise, where appropriate, reasonable forbearance before foreclosure proceedings are initiated. Such forbearance measures shall take into account, among other elements, the consumer’s circumstances and may consist of, among other possibilities: (a) a total or partial refinancing of a credit agreement; (b) a modification of the existing terms and conditions of a credit agreement, which may include among others: (i) extending the term of the credit agreement; (ii) changing the type of credit agreement; (iii) deferring payment of all or part of the instalment repayment for a period; (iv) changing the interest rate; (v) offering a payment holiday; (vi) partial repayments; (vii) currency conversions; (viii) partial forgiveness and debt consolidation.’; the following paragraph is inserted: ‘1a. The list of potential forbearance measures set out in point (b) of paragraph 1 is without prejudice to rules set out in national law and does not require Member States to provide for all of those measures in their national law.’;

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Source: EUR-Lex (Cellar) · retrieved 2026-10-12 · Text as adopted (Official Journal); later amendments are not incorporated in this text.