When to make a complaint about a franc loan?

Credit holders, so-called “Francs” live in the feeling of being unable to pay them back. These liabilities are repaid regularly for many years, and the remaining repayment amount does not decrease at all.

Unfortunately, the agreements regarding these loans often contain abusive or illegal clauses. When should I submit a complaint to the creditor? What demands can you make in it? Importantly, you do not need to submit several complaints regarding various provisions in the contract. One is enough to contain all reservations.

When should you decide on a complaint?

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Certainly when you think your rights are being violated. It should be remembered that submitting a complaint regarding a franc loan should be preceded by an analysis of your own situation and loan agreement. The worst solution is to use ready-made complaint templates.

Contracts differ from each other and it is important that such a document contains information about their own situation, expectations and needs.

What can you demand?

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With typically legal demands, you can request a new content of the contract by challenging the indexation / denomination, or the return of overpaid installments and other fees for:

  • the so-called. spreads
  • setting the interest rate by the bank according to unclear rules
  • low contribution insurance
  • not including negative LIBOR

The presented requests take into account only those provisions

The presented requests take into account only those provisions

Twere described in the Financial Ombudsman’s report as potentially abusive. It is important to rethink them and consult with specialists in this field or lawyers, because each of the above demands can – in an extreme case – lead to the annulment of the entire contract or other financial consequences. You must also specify what exactly you have a problem with:

  • with abusiveness of provisions introducing loan indexation / denomination
  • spreads
  • setting the interest rate by the bank according to unclear rules
  • low contribution insurance
  • not including negative LIBOR

Abusiveness of provisions is one thing. The implementation of the contract in its current form may also be a problem due to:

  • installment too large
  • divorce and sale of an apartment
  • death of spouse
  • problem with paying installments due to illness or lack of work

Remember! Illegal clauses can help resolve real-world contractual issues.

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