In recent years, quite a few rights have been added for the consumer. If you want to take out a mini loan, these rights also apply to you. Be aware of these rights, they can help you keep your costs down.
Consumer can cancel his loan
For example, there is a rule that every consumer can cancel his loan without extra costs. That is possible within 14 days. If you have taken out a mini loan and have changed your mind, you can always cancel it without extra costs. For example, the AFM, the Netherlands Authority for the Financial Markets, writes on its website :
Know what you are drawing for and read the fine print. Go through contracts carefully and make sure you understand them. Also know that in principle a so-called ‘dissolution period’ applies. Up to 14 days after the contract for the loan has been concluded, you can change your mind and cancel the contract.
Cancel the loan within 14 days
This is very important to know. So if you want to cancel your loan, you can always do so within 14 days without extra costs. You must then repay the money to the lender’s account before that time and write directly to the lender. This also applies to mini loans, mini credits and flash credits.
However, it is not clear what the lender will do with this. You have a good chance that the lender does not like this and still wants to recover certain costs from you. Then do not participate! The lender can still send you so many bills and reminders, this does not stand at the court. It is important to always respond to reminders and such.
If you find yourself in a situation where you are late in paying back your loan, it is also very important to know what your rights are. For example, the collection costs may not exceed 40 euros if the total bill is lower than 266.67 euros. If the bill is higher, the costs may not exceed 14%.
Moreover, the creditor must “send at least one payment reminder with a payment term of 14 days. After this, collection costs may be charged. ”For more information, see also the website of the consumer association and the video below.