There are exceptions to this rule, with credit contracts in one of the following circumstances that are not covered by the right of withdrawal: keep in mind that if you decide to terminate a contract during a cooling-off period, you must return all borrowed funds or refund all purchases, cash advances or transfers you have made on a credit card. If you buy goods with financing (z.B a car), you must return them immediately. You have every right to change your mind about buying financial products and services. You don`t need to tell the supplier why you decided to cancel if you do so within the cooling-off period. Consumer credit contracts are complex and you should always read the contract before signing it. If you don`t understand, you`ll get help from a lawyer or a civics advisory office, because once you sign, you can`t change your mind. Most credit contracts can be terminated within 14 days of the day the contract is concluded. You should contact the financial company ASAP and inform them that you do not wish to continue. You can then ask the merchant to reverse the agreement and return the money. Normally, you have the right to cancel within a specified time frame, for example. B 14 days from the date you signed a credit contract. After this period, you no longer have the automatic retraction right and the supplier may keep you in agreement or have the right to collect an additional fee or fee for terminating the contract.
You also have the right, under the Consumer Credit Act 1974, to terminate your credit or credit contract if the creditor`s acof a-normal business premises credit contract has been signed. For example, if you sign the contract at home, at work or at a booth in a shopping mall. Nevertheless, you should check your credit report to check if the lender declares account information for the terminated account and, if so, that the data is correct. If your credit agreement does not contain all this information and you have payment problems, the lender may not be able to take steps to recover its money without obtaining prior permission from the court. If you buy a new car on a rental credit contract, the financial company will pay the garage for it. They pay the money in increments to the financial company, with interest. This can become more complicated and create problems if you decide to finance a purchase through a third-party lender. In this case, you can still terminate the financing contract itself as part of the right of withdrawal, but you may still be responsible for the purchase. You can terminate most of the contracts that have entered into a seller`s a-hand premises, z.B.
in your home or workplace, within 14 days of the contract being concluded. It doesn`t matter if you asked the seller to visit.