- borrower
means a legal or natural person who has concluded a credit agreement with a credit institution, including its legal successor or assignee;
- consumer
means a natural person who, in credit agreements covered by this Directive, is acting for purposes which are outside his trade, business or profession;
- credit agreement
means an agreement as originally issued, modified or replaced, whereby a credit institution grants a credit in the form of a deferred payment, a loan or other similar financial accommodation;
- credit institution
means a credit institution as defined in Article 4(1), point (1), of Regulation (EU) No 575/2013;
- credit purchaser
means any natural or legal person, other than a credit institution, that purchases a creditor’s rights under a non-performing credit agreement, or the non-performing credit agreement itself, in the course of its trade, business or profession, in accordance with applicable Union and national law;
- credit service provider
means a third party used by a credit servicer to perform any of the credit servicing activities;
- credit servicer
means a legal person that, in the course of its business, manages and enforces the rights and obligations related to a creditor’s rights under a non-performing credit agreement, or to the non-performing credit agreement itself, on behalf of a credit purchaser, and carries out at least one or more credit servicing activities;
- credit servicing activities
means one or more of the following activities:
- credit servicing agreement
means a written contract concluded between a credit purchaser and a credit servicer concerning the services to be provided by the credit servicer on behalf of the credit purchaser;
- creditor
means a credit institution that has issued a credit, or a credit purchaser;
- home Member State
means, with respect to a credit servicer, the Member State in which its registered office is situated or, if under its national law it has no registered office, the Member State in which its head office is situated or, with respect to a credit purchaser, the Member State in which the credit purchaser or its representative is domiciled, or its registered office is situated or, if under its national law it has no registered office, the Member State in which its head office is situated;
- host Member State
means the Member State, other than the home Member State, in which a credit servicer has established a branch or where it provides credit servicing activities, and in any event where the borrower is domiciled, or its registered office is situated or, if under its national law it has no registered office, the Member State in which its head office is situated;
- non-performing credit agreement
means a credit agreement that is classified as a non-performing exposure in accordance with Article 47a of Regulation (EU) No 575/2013.