Credit charges mean additional fees set out in your credit contract, e.g.B, establishment fees, monthly administration fees. The creditor is the person or company to whom you owe money. In the case of credit contracts, it is usually your lender, for example. B bank or financial company. If a collection company buys your unpaid debts from a lender, it becomes your new creditor. The final guide for managing the entire credit security contract process refers to the assets in your contract. B credit as collateral – for example home, car, TV, jewelry – which can be withdrawn if you stop paying. Household needs cannot be used as collateral, for example. B beds, kitchen utensils, washing machines, refrigerators, passports. The borrower must have the opportunity to ask questions and explain the agreement further.
You are also advised to take into account the pre-contract information and to be able to take it with you for shopping. In most cases, it must be provided in a standard format, the „pre-contract credit information“ form, to improve comparability and understanding. While not all facility agreements require that borrowed money be used for specific purposes, most do. Lenders prefer to indicate the purpose of the credit to ensure that it is associated with the lender`s credit analysis. Chris buys a refrigerator worth $1,000 on credit. The store guides Chris through important points of the credit contract, including the right of withdrawal. As soon as the fridge has been delivered, Chris thinks it looks a little small and asks him to return it. But the store says no. For credit sales, only the contract can be paid for the time – the agreement to purchase the refrigerator is maintained.
Chris hesitates to pay the price of 1,000 $US in one fell swoop, and Chris decides not to terminate the credit contract. who? Their summary should be drawn up by someone who has some understanding of this type of agreement, who has an analytical mind and who especially likes to go into detail. You can ask your lender to do so. If they agree to do so, they can incriminate you, but they will ask the lawyer who has just devised the agreement for them to summarize the agreement. What you get is a slightly abbreviated version of your original document. I`ve seen a few of them; It wouldn`t be my first choice. Only those involved in the agreement can sum it up, can`t they? No, a stranger can do it.