Sometimes it may seem like you would rather not pay off your loan or credit card bill and spend your money on something else. Unfortunately, however, there are rarely any good reasons for this.
Occasionally, you may be faced with an unjustified unpaid expense. Here are three situations in which a loan or credit can be defrayed and a claim is made for unjustified costs.
The credit agreement was not received
If you have not been able to get a credit agreement for yourself at the time of the agreement, you will not be able to charge interest or other costs on the credit.
A loan agreement with a branch can be obtained in writing, but for online consumer loans, it is common to get a loan agreement by email. If you do not have a contract for yourself, you can file a claim for credit.
No costs were agreed in the credit agreement
If you have got a credit agreement for yourself but are charged interest or expenses that are not covered by the agreement, you will not have to pay for these expenses and you will be able to file a claim against the credit.
There is an additional charge for certain SMS services
Some unsecured consumer loans can be applied for online via SMS. However, you will not be charged for applying for a loan, postponing the maturity date or sending a loan confirmation message. If you have been charged a higher price than the standard SMS, you can file a claim for this expense.
The APR is illegal
There is an interest rate cap on the smallest consumer loans, ie quick loans. The interest rate ceiling applies to loans of less than EUR 2 000 and the annual percentage rate of charge may not exceed 50%. If the effective annual interest rate of the loan exceeds this interest rate cap, there is no need to pay the excess over the interest rate cap.
If you suspect that you have been charged an unjustified expense for consumer credit, you have the right not to pay the costs and ask the lender to verify the accuracy of the charges. If the costs are really unjustified, you will not be able to receive a default payment note for non-payment.
This is how you complain about unjustified credit
If you think you will be charged illegal or unjustified loan costs, do the following:
1. Ask your loan provider for details on the cost of your loan. If the charges are unjustified, complain to the loan provider and dispute your payment obligation. You can use the Complaints Assistant at the Consumer and Competition Bureau to make a complaint. You can also request support and advice from a consumer advisor.
2. In the event of a loan being recovered, please state the appropriate reason why the loan costs in question are unjustified and re-contest your claim. The recovery must be suspended if the situation is contested by, for example, the Consumer Disputes Board or the court. The recovery must be suspended until the disputed payments have been resolved.
3. If you receive an unauthorized payment malfunction note, request a remedy
One way to avoid suspicious loan costs is to apply for a loan only from trusted loan providers. The loan providers in our comparison are all registered with the Regional Government Office. Compare and find the best loan for you!