Withdrawal from the Extra loan agreement

Withdrawal from the Loan Plus agreement

The vision of quick cash can enchant many of us. Many people make a decision about taking payday loans knowingly, but there can also be people who, acting under the influence of emotions, took out a loan even though they did not need it. If you belong to this group and you realized that you do not need the money borrowed for anything, you can cancel the contract and return the amount you have received. This option is provided by the provisions in the Consumer Credit Act of May 12, 2011, which regulate the activities of non-bank loan companies. Below is an article that may be the most important in such a situation:

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 payday loan agreement Plus ?

How to withdraw from the payday loan agreement Plus ?

The cited article of the Consumer Credit Act gives us a guarantee that we have the option of canceling within 14 days of the conclusion of each loan agreement. When deciding on such a step, we do not have to give the reason for our decision. If the lender insists on providing circumstances that have led to the resignation, we can rely on the above provision and do not answer such a question.

In order for the withdrawal to be effective, it is not enough to inform the lender of this intention. Within 14 days of signing the contract, you must provide the lending company with a statement of withdrawal. The aforementioned document template can be found on our lender’s website. When the lender has not released such a file, we are obliged to prepare such a statement. In order to speed up the whole process, the Loan-Portal has prepared for you a model statement of withdrawal from the contract. 

Termination of the Extra loan contract

Termination of the Loan Plus contract

Loan agreements in Extra loan are concluded for a definite period from the moment the contract is signed until the borrower returns the entire amount. As borrowers, we have the right at any time to terminate the framework loan agreement at one month’s notice, which is counted from the day on which the lender receives the notice of termination, without incurring additional costs.

Withdrawal from the Extra loan contract – consequences

Withdrawal from the Loan Plus contract - consequences

When withdrawing from the contract, we are obliged to return within 30 days the entire loan amount borrowed together with capital interest accrued from the date of receipt of the money transfer to the day preceding the expiry of 30 days from the date of withdrawal. The refund must be made to the lender’s individual bank account. All information, including the invoice number and transfer details, can be found in the framework loan agreement.

The amount of capital interest per day payable within 30 days from the date of submission of the statement on withdrawal from the loan agreement is: 0.027%. On the other hand, after this deadline, the maximum interest rate for the delay in the daily relationship is: 0.038%.

Withdrawal from the Extra loan contract – how to deliver the letter?

Withdrawal from the Loan Plus contract - how to deliver the letter?

The statement of withdrawal from the contract can be found on the official Extra loan online website in the bottom tab “Framework contract”, and more precisely in Annex 2 to the contract.

In the framework agreement, specifically in paragraph 14 – Termination of the framework loan agreement – we find information that the statement of termination of the framework loan agreement can be sent to the company’s e-mail address via e-mail or in writing to the correspondence address.

In case of any problems related to withdrawal from the contract or refund, we have the option of contacting the company Extra loan by calling the lender’s phone number, writing an e-mail and using an online chat with a consultant on the website.