Withdrawal from the agreement

When making decisions related to loans or credits, we must be aware that they will also affect our future. Therefore, each of them should be well thought out, and sending an application it is important to be sure that this is the right solution. Despite this, each of us has the right to withdraw from the payday agreement. This is enabled by the provisions in the Consumer Credit Act of 12 May 2011, which also regulates the activities of non-bank loan companies. What can we find in it?

Art. 53. 1. The consumer has the right, without giving any reason, to withdraw from the consumer credit agreement within 14 days from the date of the contract.

How to withdraw from the Good Finance payday loan agreement?


Loan companies are subject to the Consumer Credit Act, which provides for the possibility of withdrawing from the contract. To this end, a statement must be made within the relevant period – 14 days – that you wish to exercise this right. Each lender is required to provide its clients with a ready-made letter template, but still few introduce them. To help consumers navigate the financial market, we have created a universal document that can be used to complete formalities. However, before we get to it, it is worth noting that one of the consequences of making a decision to withdraw from the contract is a commitment to return the money received within 30 days of making the statement. Good Finance also indicates that the borrower does not bear any costs.

Termination of the Good Finance contract

The framework agreement also provides information that both the lender and the borrower have the right to terminate. This should be done by handing over the relevant document on a durable medium to the loan company. Not only the traditionally sent letter, but also telephone statements in the form of SMS sent via the Internet Form and other forms of communication carried out by the given lender are recognized. It is worth noting that this does not release us from the obligation to repay the liability and incur all costs associated with any delays. As customers, we have the right to submit a document with one month’s notice.

Withdrawal from the Good Finance contract – consequences

Withdrawal from the Good Finance contract - consequences

In some loan companies you can face different consequences resulting from withdrawal from the contract. These include, among others, interest accrued from the day the loan is received until it is returned. However, Cheap Credit does not introduce any costs if we give back the received money immediately to the 30th day of making the statement.

Withdrawal from the Good Finance contract – how to deliver a letter?


You will find all the information you need in the framework contract. If we want our statement to be accepted, we must meet the deadline of 14 days from completing all formalities related to taking out the loan. In addition, the document must be delivered to the Good Finance mailing address or in electronic form to the e-mail address.


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