Unfavorable and suspicious paragraphs in loan agreements

I am not a lawyer and I cannot afford this type of legal service. I read the contracts, but most of them have some unclear provisions that I don’t quite understand and I don’t know if I should be afraid of them? Most companies publish loan agreements on their websites.

Protects the interests of borrowers


They usually consist of several or over a dozen pages. Now there is nothing to mislead or cheat on because there is an anti-usury act that protects the interests of borrowers. There used to be a problem with it, it shouldn’t be bigger now.

Once a popular technique for increasing costs and masking real interest was the division into fees for consideration of the application, margin, commission and only later interest. Currently, this does not make much sense, because the APRC must be given as if ex officio.

Termination of the contract


Another issue is the termination of the contract – here you also need to be careful, because if the debtor does not comply with the obligations related to regular payments, then there are grounds to terminate the contract with all its consequences. Please remember that what is contained in the contracts must be compatible with applicable law.

He cannot contradict him. Another issue is the list of warnings, which is available on the GFIC’s website, regarding all those entities which should be taken with extreme caution. In every point city, there is such a position as a consumer ombudsman.

This is a full-time lawyer who is supposed to help consumers for free. Are there any doubts? You print such a contract, make an appointment and you can count on his opinion.

So much. I just sold you a patent on how you can solve it efficiently.  A difficult topic, because in order to answer this question I would have to read the loan agreements of individual companies.

I am aware that this information is often published on their site, but who wants to spend 2 business days for free to study all this carefully? Because I don’t think so. Colleagues above proposed several options. Maybe the one with the consumer ombudsman would actually pop.

Loan agreements


I would not demonize loan agreements. The individual paragraphs in the contracts deal with formal issues, regulate matters of cooperation or obligations. What is important is the section discussing finances, usually in the form of a table of fees and commissions.

There it is clearly defined for what and when the debtor will pay (e.g. late payment or postponement of repayment date). Reply Add an answer Description: Signature: E-mail: Add a new answer Thank you! Your response has been added and is awaiting approval by a moderator. 

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