Incurring credit obligations should be supported by an accurate reassessment of your situation and repayment options. The decision to take a cash or consolidation loan will affect us over the next few years. We cannot allow ill-considered funding to weigh on us for such a long period.
There are times when decisions about taking a loan are made under the influence of the moment or even the pressure of a bank employee. We sign an expensive loan agreement and only after a few days we find it too expensive that the competition offers much cheaper loans. What to do in that case? How to unscrew a loan we have already signed? We often hear these questions, so we invite you to read the entry
Consumer loan, withdrawal from the bank loan agreement
Banks are institutions very precisely regulated by legal acts. Thanks to this, the basis for withdrawing from a loan agreement can easily be found by everyone in public sources. The legal act that regulates the issue we are discussing is the Consumer Credit Act. (Journal of Laws 2019.0.1083 i.e. – Act of 12 May 2011 on consumer credit)
Consumer Credit Act, what does it mean?
Article 53 of this Act responds to all doubts raised by us
“1. The consumer has the right, without giving any reason, to withdraw from the consumer credit agreement within 14 days of the date of the contract. “
The article immediately tells us in what maximum time the person who obtained the loan can resign from it. In addition, it should be remembered that the date is determined by the date the document was sent, not delivered.
“3. At the conclusion of the contract, the creditor or credit intermediary is required to provide the consumer, on a durable medium, with a specimen declaration of withdrawal from the contract, indicating his name, surname (name) and address of residence (registered office).
Why do we need a model withdrawal from a loan agreement?
Every time we sign a loan agreement, whether it is with a bank adviser, broker or even online, we must receive a model withdrawal. The person who grants us the loan is obliged to inform us about the possibility of such resignation from the credit agreement we have signed. Withdrawal from the loan agreement within 14 days of its launch requires a special print. That is why the model withdrawal statement is so important.
The withdrawal also applies to other loans, such as mortgage or consolidation. It is slightly more difficult in the case of consolidation loans. When we close several of our liabilities, during these 14 days banks can already distribute the funds by counting them as closed loans. Then it is necessary to talk to the bank to withdraw the closed loans and return the funds.