You have the right to withdraw from this Agreement within 14 calendar days. The consumer has the right to withdraw from the payday loan contract within fourteen (14) days from the moment of conclusion, in writing, by registered letter sent to the creditor’s address. If the consumer withdraws, the consumer is obliged to repay the drawn principal of the payday loan.
Right of withdrawal from the contract in which the payday loan is negotiated
The withdrawal of the consumer from the payday loan agreement is effective at the moment of delivery of the written withdrawal from the payday loan agreement to the creditor and crediting the drawn principal of the payday loan to the creditor’s account. In the event of withdrawal, the consumer is obliged to repay the drawn principal of the payday loan and pay a proportionate fee for the period from the date on which the payday loan was provided to the date on which the principal was repaid.
Early repayment of payday loan
You have the right to repay the consumer credit prematurely, at any time, in whole or in part. The consumer is entitled to repay the payday loan under the payday loan agreement in whole or in part at any time during the term of the payday loan agreement.
The creditor is entitled to reimbursement in the event of early repayment. In the event of early repayment of the payday loan, the creditor shall be entitled to reimbursement of necessary and objectively justified costs incurred in direct connection with the premature repayment of the payday loan by the consumer.
The creditor must notify you immediately and free of charge of the search result in the database, if the search is based on the rejection of the consumer credit application. This shall not apply if the provision of such information is contrary to data protection legislation or to public policy or public security. If the creditor refuses to provide the consumer with a credit as a result of the creditworthiness assessment, the creditor shall inform the consumer of this refusal without undue delay and if the reason for the failure is the result of an automated data processing or database search.
Right to draft contract in which payday loan is negotiated
You have the right to receive a free copy of the draft contract in which the consumer credit is arranged upon request. This does not apply if the creditor is not willing to enter into a contract with you at the time of the application. The contract will be sent to the consumer at the email address provided by the consumer as part of the registration on the creditor’s website and through his user profile on the creditor’s website.
The period during which the creditor is bound by the information provided prior to the conclusion of the contract in which the consumer credit is negotiated or the proposal for the conclusion of the contract. This information applies from the sending of the payday loan agreement proposal to the lender until the conclusion of the payday loan agreement.
However, this does not create an obligation on the part of the creditor to conclude a loan agreement with the consumer if, on the basis of a professional assessment, it is established that the consumer would not be able to repay the payday loan.