What is it about?
credit agreements for consumers must inform the European court of justice (ECJ), according to “clearly and concisely” on the withdrawal deadlines and their calculation. The ECJ made it clear last week in the case of a dispute to the credit of a German savings Bank. The Luxembourg judges declared that the contract in question only contained reference to the “German law” does not satisfy the requirements. (Az. C-66/19)
The cancellation period is generally 14 days. In the specific case of the contract in the year of 2012 was completed, but only in the year 2016, the customer of his right to cancel the made use of. The Kreissparkasse represented the view that they have duly informed about the right of withdrawal. The regional court of Saarbrücken called in the case to the ECJ on the interpretation of Union law.
The ECJ made it clear that consumer credit contracts “would specify, in a clear and concise manner the modalities for the calculation of the withdrawal period”. It is not sufficient that in respect of the relevant mandatory information on a national provision which refers itself to further legislation references. In the case of such a “cascade reference” could determine the consumers neither the extent of his contractual obligation to check, whether the contract contained all the necessary information.
About the concrete dispute must now decide the regional court of Saarbrücken. It is necessary to observe the requirements of the ECJ. Roland Klaus, the founder of the community of interests of revocation in the judgment, however, is much more far-reaching consequences.
evaluation Roland Klaus:
Actually the thing is quite simple. A private borrower is not informed properly about his right of withdrawal, he may pronounce, even after the completion of a financing (credit or lease) revocation. These so-called revocation of the Joker have used in the past years, several tens of thousands of consumers, in advance of a loan to get out without having to pay a prepayment penalty.
Especially in the case of construction loans this is enormously lucrative, because the mortgage interest rates have fallen sharply. By the revocation of the Joker was, for example, a mortgage with an interest rate of four percent (the market rate in 2012) was to make a loan with an interest rate of one percent – long before the end of the fixed interest rate and no prepayment penalty.
ECJ adopts the “Cascade link” target
at last, However, this had become increasingly difficult. The German courts, particularly the Supreme court, had ruled tends to be Bank-friendly. They wanted to get the revocation of a Joker from the table. But now the Pandora’s box is due to a spectacular judgment of the European court of justice to re-open, and gaping wide. About the author
Roland Klaus works as a freelance Journalist in Frankfurt and is the founder of the community of interest of withdrawal. It serves as a point of contact for the revocation of the motor Vehicle and real estate loans, and provides widerruf.info a free examination of loan agreements. Known Klaus as the Frankfurt stock exchange, a reporter for n-tv, N24 and the American financial news channel CNBC was.
Because of the ECJ (case C-66/19) has made the so-called “Cascade link”. This can be found as part of the right of cancellation in most mortgages and Car loans, which have been completed as of June 2010. It reads as follows: “The period begins after the conclusion of the Treaty, but only after the borrower has received all mandatory information according to § 492 paragraph 2 of the German civil code (for example, information on the type of the loan, indication of the net amount of the loan, indication of the term of the contract).”
customers can call loan years after graduation is still reflected
This Text, consumer activists have long been a thorn in the eye. Because he makes it to the customer is extremely difficult to determine when the cancellation period of the loan begins because now exactly. This starts when the customer has received from the Bank all of the mandatory information called. But what are the exactly? Some of these are in the order cancellation, by way of example. The borrower wants to know, however, all mandatory information, he must laboriously and with the help of several law books to research the necessary information.
This was unreasonable and not in line with European law, says the ECJ in its judgment. The consumer should be treated in a clear and concise Form to calculate the beginning of the period itself. If that is not the case here, then the so-called “eternal uses the right of withdrawal”. The customer may revoke his / her loan, even years after the conclusion of two things.
European law is above national law,
This initially sounds like a free pass for borrowers. So simple the thing is. Because of the Federal court of justice (BGH) has given the cascade reference some time ago, his blessing. He sees in the Text, therefore, is not a particular Problem. The ECJ expresses itself now in the opposite. What is so?
Now European law is above national law. Accordingly, the consumer-friendly ECJ had priority to judgment. However, there is still a Problem: Because the German banks can rely on their cancellation policy, actually, to the so-called protection. The States: as Long as you use the legal template for your right of revocation, you have done everything right and can’t be prosecuted for it.
judgment is a milestone for the use of the revocation jokers
Now, the ECJ criticized the cascade reference in the text sample for cancellation of private loans for the period from June 2010 to March 2016 but. The interesting question is therefore: What is the pattern of protection for banks, or the statement of the ECJ that the wording was unreasonable for consumers weighs heavier:? This question is not yet clear and is likely to deal with the courts in this country.
Nevertheless, the ECJ ruling is a milestone for the use of the revocation jokers. This is because many credit institutions have deviated in the formulation of their Treaty texts from the legal text sample. As a result, the pattern of protection is void and the revocation Joker is attacking!
We of the community of interest revocation of the credit have analysed the contracts of numerous banks and come to the following conclusion: The revocation of the Joker standing in front of a Comeback. Depending on the type of loan, the chances are, however, different.
surf tip: Rent, child allowances, Bafög, fly – the change for consumers in April when it comes to money
mortgages
Particularly in the period from June 2010 until around 2012/2013, many banks have made changes to the template, the fall on the feet. Affected almost all credit institutions: savings banks, people’s banks, Sparda banks, ING Diba, Deutsche Bank and many more. As of 2013, the deviations from errors, which allow for a withdrawal, but still enough.
Car Leasing and Car loans
For all of you that have bought your vehicle on loan or by lease, the judgment is a real milestone. Because here the Pattern takes as well as never. For leases, there is not a suitable law, arranged pattern, so that all credit institutions have chosen their own formulations. In the case of loans, there are also often discrepancies, because the banks have not sold apart from the loans, in many cases, additional insurance, for which the pattern applies.
out of the question all the contracts that have been completed from June 2010 to the present day, come here. Consequence of withdrawal: The car is returned, the Bank pays all the Rates, as well as the Deposit. A blessing this is, especially for all Diesel owners, which is groaning under the weight of massive losses in Value of their vehicles. You are now on the elegant way of your vehicles, without the need for any exhaust tampering of evidence. However, in the case of cancellation of a Car loan or car lease, it does not matter whether the vehicle is a Diesel or a gasoline engine.
conclusion
The ECJ ruling strengthens the rights of the consumer enormously. But it is not a license for a revocation. We assume that the banks will resist, as long as the revocation is pronounced by the customer. Because it is also for credit institutions to have a lot of money! The rule is, therefore, to enforce the claims for support of a lawyer necessary. In the first step, consumers should check whether their contracts from the current ruling benefit. Such an examination is in the case of lawyers, for example, in the case of the community of interest of withdrawal. Emotional cry for help out of Isolation: “We have unbearable anxiety,” FOCUS Online Emotional cry for help out of Isolation: “We have unbearable anxiety”
