The Federal Council has decided to put two bills on the Amendment of the code of obligations and the consumer credit act (KKG). From 1. January 2016 a right of withdrawal of NEU14 DAYS in the case of credit transactions. In addition, may not be in a more aggressive way for consumer loans advertised.
How does the cancellation deadline on your personal loan?
The financing decision is positive, you will immediately receive the contract for your loan. As soon as we receive back the signed credit agreement, we can pay you according to the compliance with the statutory cancellation period of 14 days the credit amount.
Therefore, it is a plan more important in the future, the credit request at an early stage, so that you get your financing.
Why is there a withdrawal period?
The right of withdrawal is a mandatory statutory right to claim for the borrower. The payment of your loan is carried out immediately after the expiry of this period.
What is a withdrawal period?
The withdrawal period is the period of time during which they may contact a borrower by a loan contract. This allows the borrower to an already concluded loan contract in the first 14 days to resolve.
What the press says:
View: New requirements for small loans
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