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Withdrawal from the Sure Bank contract

Among the products offered by loan companies we can find both long-term loans and those with short-term loans. One of the lenders providing online payday loans is Sure Bank. When submitting an application for even the smallest financial support, we must be aware that sooner or later we will be obliged to return the borrowed amount.

If after signing the contract and finalizing the transaction there is a doubt as to whether the decision we made was the right one, we have the right to resign. This is guaranteed by the Consumer Credit Act of May 12, 2011 (Journal of Laws of 2011, No. 126, item 715, as amended). What exactly is the record informing about this possibility?

Art. 53. 1. The consumer has the right, without giving any reason, to withdraw from the consumer credit agreement within 14 days from the date of the contract.

How to withdraw from the Financial Standing payday agreement?

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According to the quoted fragment of the Act, every consumer has the right to withdraw from the contract within 14 days. However, if we read the further provisions, we will also learn that this decision has some consequences. By informing the lender of our intention by submitting an appropriate statement, we undertake to immediately return the loan within no more than 30 days.

As we have already mentioned, the rules for withdrawing from the loan agreement are governed by the Consumer Credit Act. It imposes on the lender the obligation to provide the client with the appropriate model statement. Nevertheless, it may happen that for some reason we will not be able to reach it. In such a situation, the task of preparing a document falls on the borrower. Therefore, below we provide our users with a pattern that will allow us to easily complete all formalities.

Termination of the Sure Bank contract

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It happens that consumers confuse the term withdrawal from termination. Pay attention to the differences between these activities, because a mistake can have serious consequences. Sure Bank enables the borrower to terminate the contract with one month’s notice. The lender also has this right. Remember, however, that this does not release us from the obligation to comply with the provisions contained in the signed document, and the loan immediately becomes due.

Withdrawal from the Financial Standing contract – consequences

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Some companies, as a result of submitting a declaration of withdrawal from the contract, require their clients to pay additional interest, among others. However, according to the provisions of the Sure Bank framework agreement, the borrower does not bear any consequences. If we return the loan within 30 days, no additional fees will be charged. The exception may be the situation when we signed the contract for the second time and committed to cover the standard costs of lending. In this case, we must pay interest for the period from the payment of the funds until they are refunded.

Withdrawal from the Financial Standing contract – how to deliver the letter?

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All necessary information on how to withdraw from the loan can be found in the signed contract. In order for the letter to be accepted, it must be delivered to the address provided. After signing the first and each subsequent contract, we receive a ready model documents in PDF format. You can also find it after going to the lender’s website in the “Documents” section located in the footer or in the help tab – other questions. It was attached to the “Framework Loan Agreement”.

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