Almost all loan agreements can be revoked - European Court of Justice

Take a look at today's (27.03.2020) video from Kanzlei WBS on YouTube.

What do you think about it?

I quickly glanced at my loan agreement with Sparkasse and my building savings contract. Unfortunately, it’s not stated there as mentioned in the video. But I will check it carefully tomorrow.

Regards Specki

Cannot edit...
I have now found §492 in the building savings contract and the annuity loan. Not yet in the KFW loan...
I also double-checked that today is NOT April 1st.

Crazy stuff!

Regards
Specki

Take a look at today's (27.03.2020) video from Kanzlei WBS on YouTube.

What do you think about it?

I briefly glanced at my loan contract with Sparkasse and my building savings contract.
Unfortunately, it is not stated there as mentioned in the video. But I will review it calmly tomorrow.

Regards
Specki

Uh... I only endured the first few minutes (I hate it when the guys in front of the camera don’t get to the point), but it’s about the old story “right of withdrawal instruction?”

"Actually, we are all working from home here at the law firm ..." Well, even in the home office, you can take a shower sometimes. Oh dear.

By the way, our contract does not reference the clause. No chance.

Right of withdrawal
The borrower can revoke his contractual declaration within 14 days without giving any reasons. The period begins after the conclusion of the contract, but only after the borrower has received this withdrawal information. [...]".

It's that simple -_-

I haven't checked our real estate contracts yet, but in 2018 we sued against a car loan and won. Actually, I just wanted to return the car earlier because of a company car. I would have even paid a little more on it, but both the dealer and the manufacturer refused. Since [Dieselskandal] was involved, you could only sell privately at a huge loss, which was out of the question. So we let everything run through the lawyer calmly and got all the costs back. I will check that with us tomorrow. Thanks for the hint.

Uh... I only endured the first few minutes (I hate it when the weirdo in front of the camera doesn't get to the point), but it’s about the old story "cancellation policy?"

Then I can't help if you don't watch it all...
And no, it probably isn't about the old story, since the video was actually from yesterday.
And the quirky "weirdo" is probably one of the most famous lawyers in all of Germany. Although probably more with the younger audience. I've learned a lot of interesting things from him.