You have the legal right to cancel most of the goods and services you purchase in this way without justification. There are, however, some exceptions, in particular: these agreements must have been concluded in a place other than that of the premises of the other party providing a service or loan. If an agreement were concluded at the premises, the justification for the cooling right would not apply, since the party is not under pressure to conclude an agreement. Indeed, this would have given the party seeking a service or loan enough time to inspect it, ask questions, have time to request its service and then focus on the agreement. [Note: Article 6(1) of the Distance Selling Directive as regards distance contracts which are consumer credit agreements] The business should accept any indication that the consumer wishes the withdrawal as long as it fulfils the conditions for notification. In the event of a dispute, unless there is clear written evidence to the contrary, the company must consider the date mentioned by the consumer as the date on which the notification was sent. You can terminate before the lender signs, but the time you need to terminate can be short. This is due to the fact that credit is often arranged by the supplier of goods or services, who can sign the credit agreement on behalf of the lender. Unless PR 5.4.1 R (1) or PR 5.4.1 R (2) or PR 5.4.1 R (2) applies, unless: a consumer has the right to terminate a distance contract without contractual penalty and without justification within 14 calendar days, if this contract is worded: do not forget to send and receive copies of all letters, emails and documents (if possible) that you send and receive, and, where appropriate, use registered delivery when publishing articles. Be sure to include details such as data and reference numbers, as they appear on your copy of the credit agreement (which would have been sent to you during the application). If that happens, how do you make sure you`re not stuck with an account – or worse, money you no longer want and need to pay back? As long as you act fast enough and follow the right measures, you should be fine.
Please note that the aforementioned right of withdrawal only applies to the credit agreement. It does not apply to goods or services that you have purchased with the credit agreement. This means that you must always find another way to pay for them or return them to the supplier (if your contract with the supplier allows it). They must keep all products safe until they are recovered. Note: There is generally no right to terminate consumer credit agreements in the short term, i.e. when the loan is granted for a period of less than two months mentioned in the contract. Nor is there a right to terminate a consumer credit agreement on the ground that the disclosure has not been made to a guarantor (see “guarantor” in this chapter). A company may voluntarily grant longer or additional rights of withdrawal, but if this is the case, these rights should be carried out under conditions at least as favourable to the customer as those mentioned in this chapter, unless the differences are clearly explained. .