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Termination of payday agreement

You have applied for a loan and obtained the necessary cash. However, after a while it turned out that this step was not so necessary. See how to correctly terminate the payday contract.

Unfortunately, even two-thirds of us may find themselves in this position because, as studies show, so many Poles decide to borrow money under the influence of an emotional impulse. This state of affairs is greatly influenced by the ease with which you can borrow money – the fastest loan companies do it in 15 minutes, which includes not only verification of the borrower’s application, but also the withdrawal of funds. You only need three things: ID card, mobile phone number and bank account number. Very soon, however, it may turn out that either we do not need additional funds as much as we just thought, or we discover that we could have obtained money from another lender on much more favorable terms. Relax, you don’t lose everything yet, and withdrawal from the payday loan agreement and withdrawal is possible and you don’t have to give reasons for this decision. How and when to withdraw from the contract should be included in the rules of the loan company and clearly presented to the borrower at the time of signing the contract.

 

Termination of payday agreement

Termination of payday agreement

Termination of the payday loan agreement must necessarily take place within 14 days of signing the quick loan agreement, and it does not matter whether the money has already been transferred to the borrower’s account or not. To this end, write an appropriate application. Its content should also be provided to the client when concluding the contract, but it must definitely include the name and address of the company granting the loan. It is best to submit your handwritten letter to the lender’s office in person – then you will avoid the nerves associated with any problems in delivery by post. However, if you decide to send a letter, it is worth securing it using the recommended priority option. We should also remember that the date of the postmark is decisive, not the date of real delivery – so we are safe even when the application is sent on the last, 14th day from the date of signing the contract.

 

Withdrawal from a quick loan

Withdrawal from a quick loan

A person who has decided to withdraw from a quick loan is obliged to reimburse the entire borrowed amount and additional costs resulting from taking out the loan within the period specified in the contract – usually it is 30 days from the date of sending the statement. And although in theory the borrower gains almost a month to manage the borrowed funds, in practice the best solution is to send the entire amount back as soon as possible, because each subsequent day of delay will generate interest. To avoid confusion about the amount of money being refunded, it would be a good idea to contact the loan company and ask them to calculate the amount exactly. Termination of the payday contract also means that the customer will not be forced to pay any other subsequent costs, commissions or other obligations under the original contract.

 

Consequences of non-repayment of a loan granted

Consequences of non-repayment of a loan granted

If the borrower fails to return the borrowed money within the deadline specified in the contract (as we have already mentioned, it is usually 30 days), the application for withdrawing from the quick loan is considered invalid and the original contract is treated as still valid. Failure to return the amount due to the loan company may mean for the debtor handing over the case to the bailiff (its final result may be seizure of bailiffs), as well as entering on the nationwide list of debtors – its presence will effectively hinder the dishonest borrower from taking further payday loans or loans.

 

William Porte and withdrawal from the contract

payday loan

Does the customer who has been granted a long-term installment loan entitled to withdraw from the loan agreement? What are the consequences of withdrawing from the contract? We already explain. William Porte ‘s customer is entitled to withdraw from the Agreement within 14 days from the date of disbursement of the loan. For the withdrawal to be effective, it is required to deliver to the Lender’s address a declaration signed by the customer, drawn up in accordance with the template available in the Terms and Conditions. In the event of withdrawal from the contract, the customer is required to return the amount of the loan paid within 30 days of submitting a statement of withdrawal from the contract. William Porte also requires him to pay interest in the amount of $ 0.41 per day for the period from the date of disbursement of the loan to the date of repayment of the loan amount to the specified account. If the Customer who withdraws from the Agreement does not return the amount granted within the prescribed period – 30 days from the date of submission of the statement of withdrawal from the agreement, the customer is obliged to reimburse the amount of the loan paid and not returned.   The amount is paid back together with interest calculated according to the overdue debt rate for each day of delay.

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