When can a loan company terminate the contract?

Termination of the loan agreement concluded is a last resort for the contracting company, and a serious problem for the client, when the debtor does not pay the debt, does not answer the phone or a slight call for amicable repayment, the company may terminate the concluded contract. It is good to know in what situations this can happen and what the consequences may be for the borrower.

What could be the reason for terminating the loan agreement?


There are numerous legal and contractual grounds on the basis of which the loan company may terminate the loan agreement due to our fault, several of which are:

  • failure to meet the conditions on the basis of which the loan was granted (numerous delays in repayment, not responding to recovery requests or other contractual provisions)
  • earmarking funds from an earmarked loan for purposes other than those specified in the contract (this provision is rarely used and applies mainly to banks, but it still exists and should be noted if we make a commitment, e.g. to renovate a house, and it is a loan only for for this purpose, we may be asked for invoices, billing etc.)
  • loss of borrower’s creditworthiness, resulting in a reduction in the amount of the loan granted or termination of the contract (this provision often applies to credit lines in loan companies, e.g. Dollarloan)
  • deliberate misleading the creditor by providing false information about his creditworthiness, legal or material situation

Contract terminated, what does this mean for the borrower?

borrow money

Termination of the loan agreement is a demand for the loan to be repaid by the company in full before the loan repayment schedule or loan agreement. Immediate maturity is due to the above-mentioned reasons. The lender must meet the condition of termination of the loan and set a deadline for repayment, by statute, this period may not be less than 30 days (notice period). Importantly, the termination of the loan agreement must be in writing, it cannot be oral or e-mail.

Of course, the termination of the loan agreement means the obligation to return the full amount along with interest to the lender’s account, in connection with the termination of the contract and further cooperation with the client, he is obliged to return the money within 6 weeks from the date of receipt of the document or within the prescribed period by the lender (but not less than 30 days). In addition, for the borrower, another problem may be entering into the database of debtors or supplementing information about the delay in BIK, which may make it difficult to borrow any subsequent loan until the debt is repaid.

How to avoid termination of the contract

How to avoid termination of the contract

What is a conditional termination?

Conditional termination of the loan agreement is the last chance for the debtor, this type of termination is characterized by setting a deadline for repayment by the debtor of his arrears, for example with such notice the following provision appears:

“If you repay the arrears within 14 days, this termination should be considered invalid”

A letter with such a record should be treated as the final request for payment, in particular all delays arising in installments that are designated on this type of call.

In this way, often people with arrears decide to repay it and continue the loan agreement, so you can avoid many unnecessary problems such as a payment order or bailiff in the event of the order being carried out by the lender.

Termination of the loan agreement – can it be withdrawn?

loan agreement

Loan companies terminate credit agreements as a last resort, but sometimes it is possible even after termination of the renegotiation agreement with a given lender, in the case of the conditional termination described above it is clear, however, if we have received the normal termination of the contract, we should pay the last installment arrears as soon as possible and contact the lender conclusion of an agreement or distribution in installments (settlement)

When can the customer terminate the loan agreement?


Each customer has the option of terminating the loan agreement in several ways, each of which is defined in the contract we have concluded, at the same time the legal only way to terminate the contract is to terminate it within 14 days of its conclusion, Polish law guarantees the possibility of resigning from such obligation and obliges us to refund the amount within 30 days of sending the notice if we are within the statutory time.

The second way to terminate the contract is a gross breach by the lender, unfortunately this method can be interpreted differently and very often such cases go straight to court because there is a dispute between the lender and the client, a glaring breach may be, for example, adding costs that are not defined in the signed agreement.

There is a third way, but it applies only to installment loans, in accordance with art. 75a paragraph 2 of the Banking Law, when the loan is granted for a period longer than a year, the borrower may terminate such a contract with a 3-month notice period . This means that any liability entered into for more than a year (e.g. installment loan) can be terminated with a 3-month notice period, after which we must return the full amount of the loan to the lender’s account.

Total or partial credit loan redemption.

It all depends on the rates, the duration and the distribution of your loans. If one of them spans three times longer than the others, it is not always interesting to have it bought out with the others.

Illustration of a loan buy-back:

A couple with three children earn $ 4,800 in income. Each month, they pay $ 1,336 for their mortgage and $ 1,750 for their various consumer loans. The first still spans 16 years and the second over 2 years.

Today their monthly payments are $ 3,086 and once their credits are paid, they start their month with $ 1,714 to live at 5. They, therefore, wish to redeem all of their credits to have more margin at the end of the month.

Case 1: I redeem all my credits


A bank agrees to grant them new cash of $ 10,000 for their new work and to buy back what they have to repay, i.e. $ 208,548 via a new loan at 3.65% over 16 years. Their new monthly payments now amount to $ 1,639.51 and they can start their months at $ 3,160.49.

Here the operation is interesting because the couple reduces their monthly payments by almost half. However, we realize that the reduction is only effective for two years after which the monthly repurchases of loans are higher than those of the initial mortgage. Payments, therefore, increase by $ 303.51 per month, i.e. $ 50,989.68 more over 14 years.

Case 2: I only redeem part of my credits

Case 2: I only redeem part of my credits

The couple are still asking for cash of $ 10,000 but this time wish to combine only their consumer loans. Not wanting to put his property as a guarantee of the operation, the rate is higher. The bank offers them to buy back their $ 37,237 in consumer loans at 4.95% over 6 years. Their new monthly payments, therefore, amount to $ 771.05 or $ 2,107.05 with those of the mortgage.

Here the couple reduces their monthly payments a little less in the short term but their reduction remains very advantageous. After 6 years, he will only have to pay off his monthly mortgage payments.

Comparison of the two loan buy-back solutions

loan and money

To summarize, here are the two solutions available to the couple:

It is also possible to redeem only your mortgage by taking advantage of current rates in order to reduce your monthly payments or your borrowing period. In this case, the operation differs from the grouping of loans, for more information, see our guide on buying mortgage.

  • Reduce monthly payments as much as possible or limit its duration?
  • Total or partial buyout?
  • How much will it cost to buy back credits?
  • Redeemable credits
  • Renewable credit redemption
  • Renegotiate credit repurchase

Easiest loan to get: Easiest sms loan without UC despite remark

If you want to find the easiest SMS loan to get, then we list here all the lenders that are easiest to get a loan with. This is perfect for those who want to take a light loan with a note of payment. But even you who want to borrow money easily and easily without credit record. The credit and lenders on this page have lower requirements than other players. In addition, they usually make an individual assessment of your financial situation.


What is the easiest loan to get?

easiest loan to get?

The easiest loan to get varies greatly depending on the financial situation you are in right now. Lenders will then look at how much money you have earned over the past period and your existing living situation. Based on that, they make an assessment and decide if you should borrow from them. It is easiest to get a loan if you have a steady income and the lender has low requirements.


Easy loans without credit record

Easy loans without credit record

What is often classified as easy loans to obtain without credit record are those lenders use CreditSnap or Cream Lending . When it comes to micro loans and sms loans, alternative information like these is common. Larger loans over $50,000 usually banks and lenders take a credit record check. So if you want easy loans that are easy to get, then we recommend smaller sms loans up to $10,000 where no credit record credit reporting occurs. But keep in mind that since small loans are easier to get than others, the interest rate is also usually higher.


Easiest sms loan with note

Easiest sms loan with note

The majority of the sms loans which are the easiest to get accept payment remarks . The reason is that those who are usually looking for a simple sms loan have a payment note already. However, your note (in most) needs to be older than 6 months in order for you to be granted a loan. This is because the lender wants to make sure that you return the loan you take with them.


Find all the lenders where you have easy to get loans

Find all the lenders where you have easy to get loans

It varies greatly around which lenders it is easy to get a loan from. Everything depends on your existing situation, but you should not give up on it. There are always some lenders that grant more than others, depending on your situation. Although it concerns remarks at enforcement authority and needs a restart loan. But also if you want to borrow without income or as unemployed, there are banks that can help. The requirements always differ and this applies to both old and new sms players, no matter how easy it is for them to be.

Consumer leasing and online loans

June 26, 2017 Leasing contains elements of loans and rents. Until 2011, only entrepreneurs could use this form of financing. The act on limiting administrative barriers has opened a door for consumer leasing for individuals.

This type of financing on the Vistula is still unknown. According to Credit Checker data, the market share is only 0.1 percent. Traditional forms of financing are popular with customers. Recently, car loans from the non-banking sector are in the lead.

Leasing popular among entrepreneurs

Leasing popular among entrepreneurs

Non-bank loans for entrepreneurs are a new proposal on the market. Leasing is an older form of financing – in addition, quite specific. It combines elements of loans and leases. This type of financial support is extremely popular among entrepreneurs. When choosing a cash loan or leasing, customers sometimes choose the second option. It is estimated that in the first quarter of 2017, the Polish leasing industry-financed investments worth USD 15 billion.

According to the Credit Checker report, the most frequently leased items are passenger cars and vans (up to 3.5 tons). In the first three months of 2017, the value of financed items in this area amounted to USD 6.7 billion. The heavy industry came second with a total investment of USD 4.2 billion. The podium closes the equipment (machines, IT devices) – USD 3.9 billion.

It is worth noting that due to the positive sentiment in the global financial markets and high economic growth, the Polish leasing segment is experiencing a real boom. Compared to 2016, the value of the industry increased by 12.7%.

Leasing not only for companies

Leasing not only for companies

Most of us are aware of who the non-bank sector customer is, but we should be aware that consumer leasing is used by individuals. Therefore, you do not need to run a business to have access to this form of financing. It is worth noting, however, that consumer leasing is not very popular in Poland.

This state of affairs was largely influenced by complicated tax regulations, which did not provide for an individual customer to be the lessee. In 2011, the act on limiting administrative barriers was adopted. The adopted regulations paved the way for the creation of a consumer leasing segment.

What is consumer leasing?

What is consumer leasing?

The biggest advantage of leasing is the fact that the consumer does not have to engage large funds in order to purchase and later use the leased item. The transactions concern movable property – cars and vans.

Important – the person using this type of service does not have ownership rights to the leased vehicle. A consumer lease agreement is understood to be a transaction under which the lessor agrees to buy a specific item.

Then the purchased item is transferred to the consumer. In the next step, the person using the lease undertakes to pay their own contribution. The consumer is also required to pay monthly leasing installments. At the end of the contract, the person using the service has the right to purchase a post-lease car.

Consumer leasing popular in Europe, but not in Poland

Consumer leasing in the country on the Vistula is at the crawling stage. According to the data of the Polish Leasing Association, in 2016 763 contracts were signed for a total amount of USD 66 million. Although the market has increased by 78 percent compared to 2015, this share is marginal and amounts to only 0.1 in total.

However, in Europe, according to the loan comparison data, this type of financing is quite popular. In 2015, the number of consumer contracts in the movable leasing segment was 24%. In the United Kingdom, the consumer leasing rate is one of the highest in the Old Continent and amounts to 49 percent.


Work loan over 15 years: what is the best option

Whether a borrower takes out a work loan over 15 years or for another duration in parallel, and whatever their means test, they can claim eco-PTZ. The zero-rate eco-loan is, as its name suggests, a zero-rate credit. It allows you to finance the energy renovation of your property up to a certain threshold.

The total amount to which you can claim will depend on the number of works envisaged in the accommodation, as well as on their nature. This work loan varies between $ 7,000 and $ 30,000 and the repayment period cannot exceed 15 years or 180 monthly payments.

Works loan: assistance possible in parallel

Works loan: assistance possible in parallel

Note: eco-PTZ, for what types of work?
The zero-rate eco-loan mainly concerns insulation works and the installation of heating / hot water production systems, but it is also eligible for non-collective sanitation works. As a reminder, as soon as a dwelling is not connected to the sewer, this work is compulsory.

The energy transition tax credit

The tax credit for the energy transition allows the borrower to deduct from his income tax part of the expenses incurred for the energy renovation works of his property. If the amount of the tax credit is greater than that of the tax due, the difference is returned to him.

Depending on the nature of the work carried out in the accommodation, the rate of the tax credit amounts to 15, 30 or 50% of the total amount of the expenses incurred. However, this amount is subject to a ceiling: $ 8,000 for a single person, $ 16,000 for a couple. The tax credit can be combined with the eco-PTZ.

Work loan over 15 years: work loan insurance, really optional?

Work loan over 15 years: work loan insurance, really optional?

Very good question! By law, work loan insurance is optional. Only, in practice, this guarantee is almost systematically required, especially when the amount borrowed to finance the work is significant. There is however a solution allowing the borrower to reduce the total amount of his works credit, and therefore his monthly payments: the delegation of insurance, valid both for a work loan over 15 years and for an eco-PTZ.

The concept? Take out work loan insurance with an organization other than that granting the work credit. It’s a right, take advantage of it!

The insurance delegation implies that the monthly installments of the credit and the insurance contribution are the subjects of a separate reimbursement. In the context of a works credit, the insurance premium is therefore logically no longer integrated into the APR (overall effective annual rate).

Good to know: better understand the APR
The APR allows the borrower to represent the total amount of the loan. Indeed, in addition to insurance (if applicable), the APR includes all other costs relating to credit, such as the nominal rate and the administration fees. If there is only one rate to observe on a credit offer before signing to finance your renovation work, this is it!

Work loan over 15 years: what to remember 

Work loan over 15 years: what to remember 

For your work loan over 15 years, count on Good Credit! More than attractive rates, fixed monthly payments for the duration of the loan, free prepayment regardless of the amount borrowed … here are some of the privileges which each potential borrower can take advantage of by taking out the loan of work with us. Eager to know how much it would cost you? Via our simulator, get an immediate answer in principle!

  • Compatible with state aid.
  • The eco-PTZ (maximum repayment period: 15 years) and the tax credit are cumulative.
  • Works loan insurance can be taken out with another establishment than the one granting the credit of the work.

Platforms support responsible lending | Loan companies

Many people are still afraid to borrow. This is not surprising, since very often in the media there is information about people who have been deceived and must pay off colossal debts.

In many cases, ignorance is to blame. To prevent such situations, loan companies decide to introduce educational platforms. So far, Lite Lender and Across Lender have decided to take this step, but if this project works, then perhaps other non-bank institutions will be interested in it. 

Loan companies are open to the needs of clients

cash money credit loans

Educational platforms are intended to increase the knowledge of potential borrowers about finances. Importantly, this is not just about the process of taking payday pay. Educational platforms are designed to bring potential customers to the very process of applying for a loan.

They allow you to learn how to withdraw from a loan agreement and also when not to take a loan or payday loan. It’s not just about dealing with crisis situations, but also about preventing them. To build a long-term relationship with the client, it is necessary that his financial capabilities allow him to use the services of loan companies.

This can only happen if his budget is not overburdened. While loan companies are well prepared to cooperate, the client very often has to acquire knowledge about the use of payday loans.

This condition persisted until recently. Currently, projects are starting to appear to educate future borrowers. Thanks to this, they will have the knowledge needed to make an informed decision on a quick loan.

Borrow responsibly with Across Lender

Borrow responsibly with General Bank

Educational platforms consist of several elements. The main one is usually a guide. In the case of the “Borrow responsibly with Across Lender” platform, the guide consists of three parts. The first one contains a compendium of knowledge on responsible lending.

It indicates how to reasonably use the services of a loan company without the risk of falling into a spiral of debt. The second part of the guide is devoted to managing your home budget. It lets you learn how to plan your expenses, where to look for savings, how to build a financial cushion.

The last part of the guide deals with forward-thinking. It teaches the use of financial technology, shows how to use increasingly popular online methods. Using non-bank loans is a good training preparation for finding solutions on the web.

The guide is the first part of the Across Lender educational platform, the next parts are in preparation. As declared by the non-banking company, the next editions as well as cyclical educational activities are to appear soon.

Capital – Lite Lender educational platform

The kapitalni.org platform operating under the Wongi brand is more extensive. The platform includes the Knowledge Zone, where there are guide texts.

There you can also find courses that cover many areas. It is about the basics of saving and preparing for potential investments. There are advice on how to get out of debt and what to do if debt collection or enforcement proceedings are initiated. The issue of planning your home budget returns, as well as avoiding financial errors. There are also topics about saving for future retirement.

Of course, the loan company’s clients will be able to learn as much as possible about the reasonable use of non-bank institutions. The issues of responsible lending and how to deal with the rejection of a loan application or repayment of the payday loan are clarified. Like Across Lender, Lite Lender teaches you to use the internet to manage your finances. Tests that summarize the course will help test the client’s knowledge of borrowing.

The project concerns not only non-bank loans

business loans

By introducing educational platforms, non-bank institutions show that it is worth calculating and finding out as much as possible before we take out a loan online. It follows that they care about building longer relationships with their clients and actually care about their well-being.

Educational platforms usually combine with loyalty programs and benefits for regular customers. They usually include attractive interest rates on subsequent payday loans. Sometimes, there are also contest offers about which program users are informed via e-mail or SMS.

The fact that these programs not only raise the issue of the use of payday loans, is also not without significance. Platforms teach you how to look for savings in your home budget and plan expenses. They show that an online loan is one of many solutions. It follows that non-bank companies are not focused solely on persuading the client to take advantage of their offer. It is also important that using the offer, he maintains a stable financial situation and makes his decisions in a thoughtful manner.

The multitude of issues also indicates that many factors affect the overall state of our finances.
Educational platforms are undoubtedly a very interesting solution. They not only allow you to enrich your knowledge, but they also allow you to get new information. They also show how many elements affect our financial liquidity. Every client of a loan company must know that before he takes a payday loan, he should carefully analyze his options and financial situation. Current rankings of payday loans will help you decide.