Debtor Rights Protected: Credit Sales Regulations Now in Force
News Context
At a glance
| Rule Aspect | Details |
|---|---|
| Effective Date (Original Assignments) | December 10, 2025 |
| Effective Date (Subsequent Transfers) | Rules apply to transfers *after* December 10, 2025, for credits initially transferred after December 30, 2023. |
| Governing Legislation | Decree-Law no. 103/2025 (partially transposing Directive (EU) 2021/2167) |
| Purpose of New Rules | Boost the secondary market for non-performing loans (NPL) and protect debtor rights. |
| New Role Created | Credit Manager – acts on behalf of the credit acquirer and as a liaison with the debtor. |
| Eligible Lending Institutions | Credit institutions, financial companies, payment institutions, electronic money institutions (headquartered in Portugal or operating in Portugal via branch/free provision of services). |
| Eligible Credit purchasers | Alternative Investment Organizations (OIA) – alternative credit investment funds, and entities with a securitization objective. |
| Eligible Credit for Assignment | installments overdue > 90 days OR classified as unlikely to be fulfilled for ≥ 12 months, with a debtor that is a small, medium, or large company. |
| Credit Manager Activities | Collection of outstanding amounts, renegotiation of terms (no new credit), complaint management, facts provision to debtors. |