Can you cancel the loan agreement as a loan? Why is it better to borrow from institutions than from individuals? The loan is a seemingly simple topic, but before we decide on it, you should know their rights and obligations.
Usually you need extra cash arises unexpectedly. The sudden renovation, broken car and we have the problem. Not everyone has savings in the bank or on deposit, and credit is not always possible to quickly receive.
The loans, often called chwilówkami, are comfortable and above all fast both in obtaining and repayment. However, like credit taken in bank imposes on borrowers certain obligations and give rights to keep in mind.
What can a consumer?
Borrower in accordance with the Act of 12 May 2011 on consumer credit has the right to cancel the loan agreement within 14 days of its conclusion. This can be done without giving any reason and do not suffer any consequences because of this decision. However, you will have to pay interest for the period from the date of payment of the loan until repayment. Financial institutions are required whereas in this case to refund the customer charge preparation. The same situation applies to the withdrawal of bank credit.
Not everyone knows that the law on consumer credit agreement includes a loan to a consumer credit agreement. What is the conclusion? The consumer, which contains such an agreement, acquires the rights and obligations arising from the above. Act. In practice, therefore, the borrower is gaining greater legal protection and more complete access to information about the total cost of the loan.
Moreover, the consumer not only can, but should check available on the market offer different loan companies. Some of them may offer loans on similar terms. What to do then? The bottom line is that the institution to which we take a loan, it was trustworthy. The credibility is best evidenced by years of experience and membership in organizations such as the Conference of Financial Companies in Poland or certificates reliability. You should also check that the company you are going to borrow money, does not appear on the list of Alert Public Financial Supervision Commission. On the list are companies from the financial sector, to which it is suspected that operate illegally and therefore should be very careful against them.
What else remember?
By joining to sign a contract, the consumer has the right to read the loan agreement, and if anything would be incomprehensible for him, may ask for clarification of representatives of selected institutions lending. Before you decide on a specific loan, it is best to ask the lender to issue a standard contract to be able to be with him carefully. If the financial institution refuses - a signal to the consumer that perhaps it wants to hide something against him.
Loan companies also have informative forms that determine all costs, and information related to the loan. Lenders are required to give one copy of the form to each client containing the agreement.
The loan from an individual or from a company?
Definitely better and safer to choose the second option, and so the use of loans granted by legal persons (eg. Company). Be very cautious about loans from individuals and those that lead a sole proprietorship. Very often such micro cheat unaware consumers.
When including a loan agreement with a natural person (eg. John Doe), we will not be covered by the protection resulting from the Consumer Credit Act, which provides adequate protection for the borrower.
Duties of the borrower and the borrower
It is above all timely payment of obligations. This will avoid the negative entries to the Credit Information Bureau or information bureaus, operating under the Act on the provision of business information exchange and economic data. Such an entry may prevent us not only to take a loan or credit, but also shopping in installments.
In case of any problems with the repayment is not worth waiting until the problems will be solved, but as soon as you contact your lender or bank.
Borrowing is not a bad thing, provided that this is done with the head and chooses trustworthy institution. Ignorance does not exempt from liability. Therefore awareness not only of the duties are imposed on the borrower, but existing laws that guarantee secure a loan for everyone.