Termination right Real estate loan
The interest rate on loans is currently low, while many consumers are tied to years ago concluded loan agreements with significantly worse conditions.The early contract termination is due to the early termination fee regularly not attractive, but consumers are increasingly on the (alleged ) Revocation option as an interesting option made aware.
There are clients in our office, and it is important to clarify some utopian ideas. Right of withdrawal for credit cards? A consumer credit agreement does indeed have a right of withdrawal. If BuyNer were not commissioned under the legal provisions, the right of revocation lasts, in principle, indefinitely. First of all, the conclusion of the contract “years ago” has no effect – in the case of a false opposition statement, the right of withdrawal lasts practically indefinitely, so that a contradiction over years is possible.
Subsidized mobile phones
The same applies to other loan agreements – such as subsidized mobile phones, s. here with us. There are reports in the past week that “80%” of the cancellation policy used by credit institutions is wrong. Even if this is probably not representative: indeed, it can also be seen here that in this context errors often occur in withdrawal instructions.
This is in line with my previous findings in this area – especially with orders submitted to me before 2013, I have consistently found significant errors. Nevertheless, there are also exceptional cases and the justification of a “revocation in the blue”, as he is partly supported, I note quite skeptical. It is better to check all incoming documents to check then to judge whether a contradiction should be pronounced.
As expected, credit institutions are not satisfied with that at all; one should not rely on too much cooperation – the conflict is practically programmed. Experience has shown that skillful tactics are essential to blindly explain the retreat, and then, most likely, “seeing ahead” is not. On the other hand, the consumer is required; a preparation is required, for example, in order to be able to dissolve the loan agreement at all.
Since when is a resignation possible? The right of revocation never expired until the middle of 2014 after the “old” revocation right, which changed in the middle of the year. Anyone who has previously entered into a loan agreement can in any event cancel the contract by 26 July 2015 – but no later than 12 months and 14 days after the loan agreement has been replaced.
A termination makes sense at any time, even if the contract is about to be terminated, as the prospect of recovering the paid interest payments is tempting. It is controversial – even in practice – whether a resignation after termination of the loan agreement is still possible or only until the discussion of the settlement.
It is also advisable to seek advice and then probably explore the conflict before the end of the loan agreement.