Prepayment Compensation Consumer Loan

Penalty for early repayment of consumer credit

Penalty for early repayment of consumer credit

Excluded is the right to a prepayment penalty for consumer credit. free or whether you will be charged a prepayment penalty. The bank will demand a so-called prepayment penalty as compensation. Get your prepayment penalty back!

International and international banking and financial market law

International and international banking and financial market law

The practice-oriented work systemically explains the entire area of ​​banking law in Germany on the basis of current legal developments. In addition, the development of European and banking law of European countries is presented in the form of country studies. Increasingly, the focus is also on institutions and phenomena as well as areas of law whose relevance has become increasingly clear in recent years as a result of the financial market crisis – for example rating or scoring or data security and banking.

The first part deals with the main features of bank contracts, loans, and collateral, as well as accounts and payment transactions.

Guide to German-speaking and European banking law

Guide to German-speaking and European banking law

Today, banking law establishes the essential elements of today’s economic life. Based on current legal developments, the 2300-page, practice-oriented book consistently explains the entire area of ​​banking law in Germany, including the act of July 2008. 11 more articles have been included in the new edition. In addition, the development of European and banking law of European countries in 28 countries is presented at 550 pp.

The 110 renowned authors from the academic world, who often act as lawyers, mediators and mediators or consultants, as well as scientific practitioners from the legal and legal professions, guarantee a balanced interpretation of the law and a reliable and Timely presentation of the individual sections in condensed and condensed form, in order to allow the educator a practical and expert introduction within shorter periods of time. The editors of

Banking law

Banking law

Following the legal adoption of the option to terminate consumer loans for old contracts as of June 22, 2016, the option to terminate is now also available for new contracts concluded on June 11, 2010. These are (real estate) loans, term loans and prepaid penalties already paid. Not only in the revocation instructions, which often do not quite correspond to the model presented by the legislator, are now errors to recognize, but there are above all also deficiencies in the mandatory information for consumers.

Thus, the opposition period does not expire, so that the consumer can withdraw the approval today. Not only the loan agreements concluded in the above-mentioned period, but also the prepayment fees already paid should be examined. In its decision of 15 February 2009 (Ref No. 17 ZR 45/09), the BGH found that the del credere and residual debt insurance is a so-called “composite business”.

For the consumer, the consequence is pleasing: here, too, he has an unrestricted right of withdrawal. The new provisions include, above all, the lenders’ obligation to provide information before the conclusion of the contract, extended call options and provisions for prepayment penalties. To whom and for what are the new rules applicable?

In the case of consumer credit, the specific rules apply only to monetary interest contracts concluded between a consumer as borrower and a lender as of the balance sheet date of 31 December 2010. In exceptional cases, this does not apply to consumer loan agreements, where the loan amount is less than EUR 200, a thing is left as a pledge and the borrower is liable only for the loan transaction (lending contractors) and the loan transaction is to be repaid within three months and only marginal default interest (eg interest-free or particularly favorable) and in the case of employer loans as an ancillary service are compatible with the employment relationship, provided that the annual percentage is below normal commercial rates.

Therefore, the following references to these contracts are not applicable. For example, the new rules on the default of the debtor and the right of the lender and the borrower to financing contracts for real estate financing. In doing so, the previously applicable general credit law regulations will remain in force.

However, the new information obligations of the borrower to the lender apply. With the new consumer credit law, the borrower receives more information before concluding the contract. The following is important: The consumer must be informed in good time before signing a loan agreement in writing, ie by e-mail or fax, about all important details of his contract.

In this case, the consumer can apply for a credit agreement from the creditor, provided that the supplier is in principle prepared to conclude the contract. After the conclusion of the contract, the creditor shall inform the consumer of all statements or additions in writing or in writing, ie by fax or e-mail. The creditor is obliged to provide information in the following cases: If the consumer agreement does not contain compelling information, such as information about the terms of the contract, it will violate certain reporting obligations or it will not fulfill its written or cryptographic status If the loan contract is null and void, ie the contract is invalid from the beginning.

However, under current law, despite the shortcomings, the loan agreement becomes effective when the consumer receives or has used the loan amount. A new rule provides that the borrower has the right to terminate the loan agreement if the agreement does not contain any information about the duration of the contract or the right of termination. If this right is exercised, the lender is not entitled to a prepayment penalty.

With the new rules on the right of withdrawal will be built on the former. The novelty for consumers is that they can terminate an unlimited credit agreement at any time, unless otherwise specified in the contract. Even in the case of a contractual agreement, which provides a deadline for the end user, it may not exceed one calendar month. However, the borrower will not be terminated if he does not repay the amount due to the lender within two calendar weeks.

 


Sample revocation loan

Example revocation loan

Example revocation loan

If you decide to retreat, you can use the following example. Without repayment of the loan a cancellation of the mortgage in the land register is not possible. The Federal Court of Justice has issued a new decision to revoke consumer credit agreements. It begins with the sending of the revocation. – In the case of a wrong cancellation policy, the right is on your side!

Withdrawal Loan

Withdrawal Loan

Depending on the reason why the consumer wishes to postpone the debt, the house bank may order early repayment either in accordance with the strict principles of the Federal Supreme Court or even at its discretion. In this context, however, there is another way in which the consumer can dispose of his credit agreement without early repayment: According to the legal requirements, a credit company is required to inform a consumer when concluding a credit agreement that he has a right of withdrawal becomes.

Subsequently, the consumer can dissolve his credit agreement with the bank within a 2-week withdrawal period. In the case of a revocation, the loan agreement is not considered closed from the outset. More than 2/3 of the cancellation policy in real estate loan agreements are obviously wrong. Why are the cancellation instructions wrong?

Often, the credit institutions do not properly inform consumers about the beginning of the opposition period in the cancellation policy. The BGH has stated in a resolution of 2012 that the use of the term “The period begins at the earliest with this instruction” is incorrect since the use of the term “at the earliest” does not allow the consumer to clearly and completely begin the period of validity to grasp the necessary instructions.

This wording is found in a variety of cancellation instructions. The reason for this is quite simple: The legislature has imposed in a relevant information and proof regulation (BGB-InfoV) the institutes a model for the instruction about the revocation. The above wording about the beginning of the deadline is explicitly included in this pattern cancellation declaration.

Therefore, the institutions have ensured that these formulations comply with the legal requirements in the application. This is precisely what the BGH in its case-law of 12 September 2012 made clear that this is not the case, even if this wording is reproduced in the model termination notice. Under the BGB-InfoV, however, institutions may under certain circumstances invoke the correctness of these model termination instructions.

The instruction used by an institution therefore meets the legal requirements only if the pattern of the instruction is used in writing.

The instruction used by an institution therefore meets the legal requirements only if the pattern of the instruction is used in writing.

However, it is not sufficient for this purpose that the instruction used with regard to the beginning of the objection period literally corresponds to the wording in the version of the model for the contradictory instruction in Annex 2 to § 14 (1) and (3) BGB-InfoV equivalent.

The scope of protection of Section 14 (1) BGB-InfoV only applies if an instruction has been used which corresponds to the model of Annex 2 to 14 (1) BGB-InfoV in the version valid until June 30, 2008.

Which wording of the cancellation policy is wrong? The following often used Cancellation Policy is invalid if it includes this provision: “The Revocation Period shall not commence until the date of receipt of this instruction.” The period shall run one day after such notice has been given and a contract document, a written loan application or a copy the contract or loan application.

“The beginning of the period is the day following the announcement of this instruction and the sending of a document, a written statement or a copy of the document or application.” 3. The term will run after receipt of this instruction, but only after receipt of your order signed copy of the loan agreement.

“The period runs with the delivery of this document, but not before submission of the letter of intent of the client.” The period runs from 10.06. 2010 🙂 “The term runs after conclusion of the contract, but only after receipt of all according to 492 Abs. 2 BGB prescribed information (eg information on the type of credit, information on the net loan amount, information on the responsible for the credit institutions supervisory authority) ….”.

In addition, the revocation instructions used by the credit institution may also be invalid because they are incorporated without particular emphasis into the General Terms and Conditions and the consumer can not see clearly that this is a substantial instruction for him with regard to his rights and obligations in this connection is.

As part of an examination of the termination instructions by the consumer center  was found that for 300 loan agreements, the termination instructions to more than 2/3 are incorrect. You can see an up-to-date resolution concerning a blocking instruction by IKD Bank here: An overview of the revised loan agreements can be found here: What consequences does an ineffective cancellation have?

In the case of an incorrect revocation declaration, the two-week revocation period was not set in motion as it only expires if the revocation declaration was correct. If this is not the case, the revocation period has not yet begun and can now be pronounced. How does the contradiction work?

If you can terminate your loan agreement, the entire loan agreement must be canceled. The consumer therefore receives back his interest and principal payments as well as any agio / discount and any processing flat-rate from the bank. Until when can I file my opposition? Here, the BGH has determined that in principle there is no time for it.

Thus, the consumer can terminate his loan agreement years later. This is possible even if the loan agreement is now fully paid.

Thus, the consumer can terminate his loan agreement years later. This is possible even if the loan agreement is now fully paid.

Recently, credit institutions have argued that the resignation was bad faith several years after signing the loan agreement. However, this was an isolated case in which the consumer had withdrawn the loan five years after its complete liquidation.

However, we assume that this jurisdiction in no case during the current loan agreement or after conclusion of the cancellation agreement due to the sale of the property and the prepayment paid applies. Then the house bank, which, knowing that it has received incorrect instructions, can instruct the consumer at any time, thereby setting the deadlines in motion, must make a ram call.

This “perpetual” right to termination is to be limited by an amendment to the Act, which will enter into force on 21 March 2016. Accordingly, it should only be possible for borrowers who have received a deficient instruction on the resignation to declare their withdrawal within a period of twelve (!) And 14 days after conclusion of the loan agreement. 4th

In the subsequent period, the previous cancellation option is eliminated. The background to this intended change in the law is likely to be that the banking lobby appears to have a major impact on the current government to deal with the many complaints that can be expected given the continuing high number of erroneous withdrawal instructions.

In the event that the bank accepts the resignation, you are required to repay the net loan amount plus interest at standard market conditions within 30 days of resignation.

In the event that the bank accepts the resignation, you are required to repay the net loan amount plus interest at standard market conditions within 30 days of resignation.

You should therefore make sure in advance that in this case, a shift of an outstanding balance is easily possible. It should also be noted that real estate loans are often associated with a mortgage on the property and the consumer has been subjected to direct enforcement in this regard.

Therefore, the consumer must ensure that the institution itself does not terminate in the context of litigation because of lack of installment. The problem in this case is that the credit institutions only issue the securities after payment of the prepayment penalty for the uncommitted purchase by the purchaser.

In this case, it is possible to conditionally pay the early repayment so that the borrower still has the option of requesting repayment at a later date. An often occurring argument of the legal protection insurance is also that the credit agreement was concluded before the conclusion of the legal expenses insurance and therefore insufficient protection is given, since the criminal offense of the credit institutes already existed in the issuing of a defective termination instruction at that time.

By decision of 24 April 2013, the BGH clearly ruled against this view that an infringement of rights only exists if the company requests the withdrawal from the loan agreement on the basis of an incorrect notice of termination or if it does not address a specific deadline.

In any case, the expenses incurred are always manageable and findable. Experience shows that credit institutions do not accept resignation declared by the consumer. Enforcement of the rights of an effective resignation by the attorney is, in some cases, sufficient to create new terms and conditions with the bank for the purpose of further pursuing the loan agreement.

However, despite the clear legal situation, financial institutions often resist, so that in many cases it is also necessary to sue before a court.

 


Repayment of the loan later

Repayment of the loan later

Repayment of the loan later

For loans, eg student loans, the repayment phase begins later. So you take out a loan to finance your studies and later have to repay it from your income, including interest. The credit card accounts must not be in default and the credit limit must be sufficient. You get back a portion of the income you actually have later.

Buy now, relax later.

Buy now, relax later.

When online shopping lures cheap, degradation is imminent or a surprisingly high amount flows into the building. With my payment plan, you can choose the repayment period for expenses of 200 EUR or more. Whether sales, electricity bill, vacation or car repair: Unintentionally high effort is no exception, but must not be an occasion. One of them is my payment plan.

So it is easy to repay larger costs gradually in fixed monthly amounts. The structure via online banking is very comfortable; the runtime can be adjusted in certain phases. The payment plan can be set for individual ticket sales starting from 200 EUR. You can define the repayment period yourself:

In online banking, my payment plan can be set up comfortably and with a few mouse clicks. Only requirement:

Repayment of the loan later

The credit card account must not fall behind and the credit limit must be sufficient. A small supplement in interest rate form is pending for repayment over my payment plan. In online banking, individual conditions are displayed. By the way, if you want to cancel your repayment early, you can do so too.

For the management, the mastery of the legal framework is a prerequisite for the proper fulfillment of their duties and the effective use of their room for maneuver. The first part of the volume discusses the main tasks and their legal foundations. The second part of the guide focuses on the employment contract, and the liability and criminal consequences are described in detail in the third part.

 


Credit reconstruction

loans reconstructions

loans reconstructions

But do not worry: the Intrasavings bank actively supports you. A low-interest loan from the Reconstruction Loan Company is available for the purchase of a residential property. X

The bond valuation of Moody’s indicates the future solvency of the company or issuer. Not only the ability to pay plays an important role, but also the exchange rates, the macroeconomic situation and the maturity of the relevant securities. He is a long-term score and less volatile than the risk score. The valuation of the company score is based on the opinion of investors.

Analytics’ daily credit risk score assesses the credit risk posed by equity and price risks of each company. This score will reach 1 to 10 scores. Basis for the daily creation of the valuations is the estimation of the respective entrepreneur by balance sheet, creditworthiness risk, dividend probability and stock exchange requirement.

Bank for Reconstruction

Bank for Reconstruction

this is to guarantee these loans. Exclusively for Indonesian advertised excavators. State aid is used exclusively in Indonesia. By letter dated 7 November 2002, the Bundeskartellamt sent the European Union a so-called “rescue aid” in the form of a bi-annual loan guarantee for one of the AG granted credit of EUR 50 million.

Intrasavings Bank. Financing microcredit from Kosovo to micro-enterprises. The aid schemes approved by the European Union (17), a loan of DEM 900 000. (17). of the banking sector in Bosnia and Herzegovina, resulting in a disbursement of EUR 44.25 million, was not recognized as an asset by the Commission and is therefore not included in the accounts. Â b) The amounts are included in the final statement for 2004 under the heading “Financial Intermediaries”.

Implemented by Intrasavings bank in Bosnia and Herzegovina, for which an amount of EUR 44.25 million was paid; (b) The relevant amounts are included in the final accounts for 2004 under the heading “Financial Intermediaries”. with the participation of private banks in a composite consortium, so that its conditions were to be considered as market-compliant. 

 


Home Purchase Loan

 

Dwelling purchase credit – applying for a housing loan

Dwelling purchase credit - applying for a housing loan

Advice on bank loans Land register mortgage on a home purchase, real estate, land. To finance the house, with the right credit. Bank loan cadastre Basic fee for home purchase, real estate, parcels, land Now I have acquired an apartment and set a property tax on it. A property tax of the order of the maximum that the bank can ever enforce is the amount of land charge or the remaining debt plus interest and other expenses, possibly more than the land charge? out. Two land charges are entered in the cadastre: DEM 115,000 (1988) and DEM 35,000 (1998).

The agreement is from 2007 and was signed between the house bank and A., my sisters and I are not called. Even if I present the will and the loan number, the house bank gives me no further information, it calls the bank customer secret – I was told that one can gain insight only on the court.

This has promised the house bank.

This has promised the house bank.

A mortgage amount of EUR 95,000 must be recorded. Then we are both 50% owner in the cadastre. Already, there is a baseload of 60,000 in the cadastre of the fathers. Since the boy has since set up a second house bank and financed, has its base fee for another 70,000? elevated.

The house bank will certainly defend itself against this, otherwise, it would give up its maximum amount to the second house bank. After we got a new generation, we bought a bigger house, but first rented the apartment and charged with a property tax at a house bank to raise funds for the larger house. What about the mortgage?

So we can take our half unloaded and mortgage activity? Is it advantageous to leave the previous liens of 100,000 on the whole property? To secure the loan, a lien was entered into the cadastre in favor of this house bank. Now we want the base fee from the house bank to be allocated to me as an individual.

In what order of priority are which measures to be carried out, which orders have to be certified in writing and, if necessary, by a notary, and who ideally contacts the current bank affected by the land charges when? The acquirer has taken the rights entered in the cadastre. Including a mortgage on the house bank.

From the point of view of the banks: as if no transfer had taken place.

From the point of view of the banks: as if no transfer had taken place.

As a security, the house bank has secured a lien on my private property with a residential building. May the financing banks deny the transfer and enter it in the cadastre I? Question: What advantages and disadvantages would arise for the variant cadastral I and land charge for whom and could be eliminated in the notary contract?

Apart from the eradication, he would like to receive a secondary burden after the house bank. Does the land charge only come into force in the case of a forced sale? All details were arranged in advance with our bank advisor and the basic fee for the house bank was also ordered by the notary office. The loan agreement was not finalized although the liens had already been registered for the principal bank.

All this was communicated to the board of the company. Ownership of 50% owned and still burdened with debt in the cadastre. May a mandatory entry be made in the cadastre? Generally speaking, a bankruptcy trustee is not obliged to conclude an agreement on the basis of the economically justifiable, rather than imposing it recklessly, if it is foreseeable that: a) a seizure of wages implies the immediate termination of the employment relationship (temporary to late 2014) and thus the basis for an economic settlement is abolished (I am over 60) and b) the credit agreements for the dwelling house of the house bank are expected to be terminated immediately after becoming aware?

A mortgage amount will be entered in the cadastre of the lending banks. Ie. the building “belongs” (still) to the house bank. Moreover, such recourse would hardly bring anything, as the liens of the banks are still almost complete. An agreement of 50-50% and a joint and several liabilities in the credit agreement.

 


Student loan

Student Loan To finance their efforts,

Student Loan To finance their efforts,

A central government can create a job called a government agency and finance that quasi-government agency by issuing bonds. ember 2001 “,” PPA compensation (the ‘compensation’), October 2003 “are not very prone to interest rate fluctuations.

Typically, the assets of non-mortgage customers, including credit card receivables, car loans, student loans and so on, are not very sensitive to interest rate fluctuations.

Adviser: Financing the start of a career with a student loan

Adviser: Financing the start of a career with a student loan

A study typically incurs significant living expenses, tuition, and the necessary documentation. There are usually significant additional costs.

In addition to tuition fees and teaching aids, students must also bear part of their living expenses themselves. Many students are therefore unable to live with their own children. Due to the considerably tightened study regulations as part of the conversion to Bachelor and Master programs, it is also increasingly difficult to earn his living through student activities.

Although it is possible to apply for funding from the finance ministry, these funds are often insufficient to reimburse all costs of study. Especially the tuition fees are often difficult to finance. Therefore, many are dependent on a student loan for their university studies. That’s why they depend on a student loan. 19. In contrast to conventional loans, these are generally characterized by much better conditions.

With the associated development bank, students have been supervised since the beginning of 2006 in their first degree. There are no scholarships for second or third-degree students. From a financial perspective, therefore, existing private insolvency is the sole exclusion principle. The student loan is awarded for a maximum of ten semesters.

During this time the student can request a monthly payment between 100 and 650 EUR. Unlike conventional loans, there is, therefore, no one-time payment of the entire loan amount. In the pursuit of postmen, this is usually no reason to rejoice.

 


Freelancer loan

Freelancers Credit

Freelancers Credit

Methodical approach in the project: – Participation in the preparation of a preliminary study on the topics brief change, Methodical approach in the project: – Responsibility for the topics (including preparation of requirements specifications, test concepts) for: methodological approach in the project: – preparation of technical conceptions, concept review and coordination with the auditor.

Systemic approach in the project: – Creation of a target image for the project solution and coordination with the IT architecture and various committees of the bank. The methodical approach in the project: Methodical approach in the project: Methodical approach in the project: – Implementation of the changeover (starting point: host system): – Design of target processes in consultation with the departments of the two involved partners.

Methodical approach in the project: – Foundation Option: adaptation of the IT systems in the sense of the greatest possible cooperation in the business transaction between parent company and subsidiary; Preparation and coordination of the corresponding foundation documents, cost estimates, etc. The methodical approach in the project: Methodical approach in the project:

Borrowing – Freelancers

Borrowing - Freelancers

Write only in English in the discussion forums! Likewise, the foreign language contributions (eg contributions over other languages) over we delete, unfortunately. What about housing finance for freelancers? Can it or will it be rejected because of a missing temporary employment contract? By: Being a banker, I would grant DAF bogus self-employment as the only “security” in favor of my commercial bank, for which I am active, no loan location.

A loan shark, on the other hand, should not, should not care. What about housing finance for freelancers (DaF lecturers)? Is that possible or is it rejected because of a missing permanent employment contract? Depends entirely on how high your saved self-share is, whether you can afford any security and whether you have a demonstrable salary at a reasonable level as a self-employed.

In addition, I have received a loan at home and abroad, although I am self-employed. For that, but I had to provide proof of my income. As far as I can remember, it was the annual accounts of the last five years and the income for every other year. Write only in English in the discussion forums!

 


Revocation loan sample letter

Withdraw loan pattern letter

Withdraw loan pattern letter

Made the unlawful impression that I conclude or obtain a credit agreement with you. The revocation of my alleged declaration of intent and the. Please note: The revocation is only useful if you have the money or have agreed a favorable follow-up financing. I withdraw the above loan. You can use this cancellation form if you want to leave your loan agreement without having to pay a prepayment penalty to the bank: Sample: Revocation of a closed credit agreement – What happens after the revocation?

Also note the guiding principles there:

As a guarantor, you can have a right of withdrawal, at least if you hand in your guarantee statement before 13.06.2014 in a “doorstep situation”. The threat threatens a guarantor whenever he finds himself in a so-called front door situation. It does not matter whether the main claim is a consumer credit or a trade credit and whether the debtor was also identified by an entry situation for the conclusion of the contract.

The guarantor can rely on a possible right of withdrawal of the debtor, but does not make the justification of the guarantor’s own right of rescission dependent on the consumer position of the debtor or a situation at the front door that affects him. A separate obligation and a separate right of withdrawal of the guarantor under the terms of the 312 Civil Code are agreed with the guarantee contract.

The cancellation policy of the consumer in such transactions is now enshrined in § 312 g of the Civil Code. It is debatable whether the guarantor can repeal his commitment (under the consumer credit law), even if there is no “door-to-door” business. In a previous procedure, the BGH rejected the guarantor’s general right of withdrawal if the guaranteed main service was a commercial loan.

The right of revocation of the guarantor can not of course be made dependent on whether the main claim arose for business or private reasons.

The right of revocation of the guarantor can not of course be made dependent on whether the main claim arose for business or private reasons.

On the general right of withdrawal of the guarantor (commentary on banking law, 2nd edition, 2016, chapter 29, no. 29-31) and Müller (Neue Justiz 2012, 397). The withdrawal period is usually 2 weeks.

It only expires, however, if the house bank has informed you as the guarantor of your right of withdrawal. This cancellation policy is often wrong, so you continue to exercise your right of withdrawal. You have the right of withdrawal only if you express the warranty as a consumer or consumer. The guarantee can be immoral (and thus invalid) (138 BGB) if the following three conditions are met: 1. You are emotionally associated with the debtor (spouse, close relatives, possibly also employees).

Meanwhile, it is also clarified that this jurisprudence is to be followed even if a final decision (enforcement order) has already been issued against the guarantor; these decisions must be repealed, the enforcement of such decisions is not allowed (constitutional court, decision of 06.12.2005, and to this justice court, decision of 25.04.2006).

“The gross overload of a guarantor who is emotionally attached to the debtor justifies the refutable assumption of immorality of the guarantee.” There is a manifest financial surplus when a forecast based on the date of the guarantee statement shows education, skill and family responsibilities that the guarantor alone is not able to permanently increase the current interest in the secured claim with the garnishment portion of his income and his asset.

The lender can dispel this assumption by not only proving his ignorance of gross financial overload or emotional attachment.

The lender can dispel this assumption by not only proving his ignorance of gross financial overload or emotional attachment.

But also proving that the guarantor has a personal or economic interest in taking out a loan. The interests of creditors to protect themselves from possible transfers of property between spouses by the guarantee are not in themselves a matter that excludes immorality.

“With spouses and close relatives, their emotional attachment to the debtor is to be regularly assumed, possibly also with employees (BGH, judgment of 14.10.2003).” Their specific income situation is decisive for their gross financial overload Capital requirement (just under DEM 25,000, DEM 20,000, approximately EUR 17,000, just under EUR 13,000), a significant financial overload, a de minimis restriction would be unjustifiable.

Not only the guarantors, but also the so-called joint liability, the provisions of the ECJ on immoral guarantee. Joint liability is formally a common borrower, but has no self-interest in lending and may not be involved in lending or using it. It then does not matter to you whether you have signed the credit agreement as co-obligor or if you are (only) liable as a guarantor.

“1” 1. Co-perpetrators are only those who have a right to be granted the loan and who have a say in the issue and use of the loan, co-debtors who are not equivalent creditors of the principal bank. Obvious economic congestion of the spouse or close relative can only be confirmed if the person concerned is unlikely to even be able to raise current main interest rates.

Other collateral provided by the creditor will only be taken into account if it limits the liability risk of the sub-obligor to a legally justified extent. In the case of a gross financial burden, it is assumed that the spouse or close relatives in the joint and several liability was not guided by their concerns and a reasonable assessment of the economic risk and that the Institute has used the emotional relationship between the principal and the joint debtor morally offensive,

Obtaining purely indirect benefits from a working capital loan of the debtor is not likely to invalidate the assumption of an inappropriate influence on the will.

Obtaining purely indirect benefits from a working capital loan of the debtor is not likely to invalidate the assumption of an inappropriate influence on the will.

“On the conditions under which the presumption of immorality of the joint liability agreement can be rebutted in the event of a gross financial burden on the jointly and severally affected spouse, see justice court, decision of 15.11.2016 (Az 32/16).

Note: In the aforementioned decision, the justice court overestimates the meaningfulness of the contract text for the definition of co-responsibility / joint liability and thus leads to a subsidiary information burden for the co-debtors. In reality, it is not an interpretation of the loan agreement, but the determination and assessment of the framework conditions that led to the conclusion of the loan agreement (Schimansky, WM 2002, 2437, 2438).

The decisive argument of the justice court for a subsidiary disclosure obligation of co-obligated persons thus expires. The Higher Regional Court justifies the burden of proof of the house bank for the personal benefit of the co-obligated person with its “obligation to inquire about the purpose of the loan in order to know who of the spouses has their own right to conclude the contract”.

If such an obligation of BayernLB exists to determine the purpose of the contract, the co-obligor may not have a subsidiary disclosure obligation for the purpose that BayernLB already knows on the basis of its obligation. Rule of thumb: As a guarantor / co-obligor you are critically charged, if you can not even afford the current interest payments from your attachable salary.

If you have assets, this can put you at risk of gross financial overload. Partner for a credit debt of the other part only if it is ensured that the person concerned is at most affected by a “contingent liability” that does not exceed its financial strength. 3 When questioning whether the land charges safeguard future claims against the borrower according to the salary of the preconceived bank conditions, ambiguity within the meaning of Section 5 (2) HGB must not be borne by the guarantor or co-signatory, who is severely overburdened financially.

The possibility of exemption from the residual debt according to 286f. With regard to further collateral, however, the guarantor or co-obligor may only be subject to “default liability” which does not exceed its economic possibilities and therefore does not fall within the meaning of section 138 (1) no. 3 of the Civil Code. 32): “The purpose of the lengthy and complex exemption procedure is not to protect institutions that abuse the obvious willfulness of an economically over-taxed spouse or unmarried partner of the principal debtor, their alleged claims from the far-reaching nullity penalty of 138 para. 1 no of the Federal Data Protection Act.

If you pay as guarantor to the payee, other securities of the debtor (borrower) will be transferred to you.

If you pay as guarantor to the payee, other securities of the debtor (borrower) will be transferred to you.

Regardless of the immorality of the guarantee, the guarantee expires if the payee provides the security of the debtor (§ 776 BGB). “The due date of the claims under a direct enforceable guarantee, unless otherwise agreed by the Parties, is the due date of the principal claim and does not depend on the payment request of the payee.

“It is contrary to the security purpose of the statute of limitations to link the beginning of the period to a request for payment of the payee, as it would then be in the hands of the payee to arbitrarily postpone the beginning of the period and the necessity of statute of limitations (confirmation of the decision of the payee) Senate of 29.01.2008, Case ZI 160/07, paragraph 24).

“The contracting parties may provide for a different period for the assertion of the warranty claim.There is a clause on the terms of the warranty claim depends on a request by the creditor (” no unauthorized disadvantage of the guarantor in accordance with 307 BGB “) and the expiry of the warranty period if the guarantee has been given before 1 January 2002 (reduction of the warranty period from 30 to three years).

The guarantor (in this case: the liable managing director of the partner of the GmbH in the meantime) can not invoke the shortening of the limitation period, if he knows that the lender renounces his claim after the due date of the claim, because he wants to wait, whether the debtor the installment payment is announced several times (BGH, Az 26.02.2013, Az. 167/11).

A general terms and conditions clause shall apply which extends the limitation period (three years) to five years (“no unauthorized disadvantage of the guarantor according to 307 BGB”) if it partially favors the guarantor because – contrary to the legal provision (199 para. 1 Nr. 2 BGB) – the beginning of the limitation period does not depend on knowledge-dependent aspects (“BGH”, judgment of 21.04.2015, Az. ZI 200/14).

Notwithstanding the limitation period for the warranty claim, the guarantor may also request that the main claim come into force. The same applies if the debtor does not comply with the limitation period and is therefore legally transferred or if the debtor wishes to waive the period of limitation. If the debtor was finally and conclusively punished in spite of the limitation of the period of limitation, the guarantor can generally no longer claim that the principal benefit has been claimed.