Loans are denominated loans
For over twelve years, the Swissed has almost doubled in relation to the bank. Every Borrower who takes a loan in a foreign currency should be aware of the great risk associated with this financial product. Unfortunately, many borrowers are not aware that this risk is very high. Very often loans in francs were taken by people who could not afford a USD loan .
Importantly, the Swissed loan is a bank loan that is only related to the Swissed currency. This currency was only intended to refer to a more preferential reference rate, which was Nibore at that time.
The franc loans are divided into two groups, the first of which is an indexed loan, in which the loan agreement includes the loan amount expressed in USD. Each installment is repaid at the rate of the Swissed . The second group of loans are denominated loans, which are much rarer in Poland than indexed loans. This loan differs from an indexed loan in that it is expressed in the Swissed currency from the beginning. However, the amount paid and repaid to the borrower in USD. It is not disputed today that both of these loans have a number of legal flaws.
What possibilities do franchise holders have?
More and more franchisees are deciding to take legal action regarding a loan taken out in Swissed . These matters are increasing in quantities all over Poland. Borrowers who decide on such a solution can count on the annulment of the loan agreement, the conversion of the contract or the return of unduly collected returns and commissions.
The most important thing you can gain is certainly freeing yourself from the loan obligation and the risk of a rise in the price of a foreign currency.
It is therefore worth getting the courage to go to a financial expert and later to a lawyer specializing in this field. We advise you not to be discouraged by the bank’s position, as it will always be against contract cancellation. First we will be obliged to submit a complaint. The answer to this complaint will usually always be negative. Banks effectively discourage many borrowers from continuing. In our opinion, it is worth considering seriously the decision to go to court.
As can be seen from the example of thousands of franchisees , in many situations a foreign currency loan is kind of like playing on the stock exchange. Probably every borrower, if he was aware of this risk would not opt for such a loan. Each decision regarding taking a loan for people working abroad is worth analyzing with a credit expert.