After the judgment of the CJEU, in a case on the proportional reimbursement of commission on a closed loan, customers began massively sending letters to banks, just to repay the credit commission.
Unfortunately, from the information obtained from our clients – almost all the answers are negative. It is no secret that banks do not want to voluntarily give away money, and one of the banks that collected very large commissions is Good Credit Bank. How to claim a refund from Good Credit Bank?
Check the loan agreement with Good Credit Bank
If you want to apply for a refund of commission from Good Credit Bank, first check the loan agreement – to claim a refund – the agreement had to be concluded after December 18, 2011, and the loan had to be a consumer loan (taken on a natural person not exceeding USD 255,000).
REMEMBER – Mortgage and corporate loans are not included in the commission refund.
In the agreement with Good Credit Bank, it must be written what commission was paid – this must be checked carefully to calculate the exact amount of commission to be refunded. This calculator will be very helpful – just download it, enter the dates of the conclusion and repayment of the loan and the commission paid.
IMPORTANT – Good Credit BANK is one of those banks, which often added a commission of over 30% of the total loan amount.
You also need to know the exact closing date of the loan – i.e. the moment when the loan was repaid. It does not matter if the cash was selected and the loan was converted into a new one (consolidated) or if the loan was repaid from its own resources – if the previous conditions were met – the commission should be refunded from Good Credit Bank.
How to recover a commission from Good Credit Bank?
In 2016, the Office of Competition and Consumer Protection and the Financial Ombudsman drew up a common position on commission returns:
“Art. 49 paragraph 1. In the event of repayment of the entire loan before the deadline specified in the contract, the total cost of the loan shall be reduced by those costs which relate to the period by which the duration of the contract has been shortened, even if the consumer incurred them before that repayment.
On 11 September 2019, the Court of Justice of the European Union (CJEU) issued a judgment on bank returns, which is identical to the position. In this case, the law is on your side and a refund of the commission from Good Credit Bank is justified.
Good Credit Bank doesn’t want to return the commission?
In general, no commission refunds banks want to pay back. Of course, you can write requests and refund requests to the bank, but this is not effective. It is enough to imagine a situation in which the bank voluntarily gives away money – that is, it admits that it did not settle the credit costs of its customers and this is a great attack of customers with letters of return. Such a bank would be against the wall and within a few months would have to give away several million dollars. That is why banks’ strategies look completely different – they do not give away money.
Most customers will give up and at most change the bank where they have an account. The rest will go to court. Banks will save several million dollars on this, and the process of bank returns will take several years. Of course, customers will pay for it – we can expect additional fees in the account, ATM fees, etc.
That is why it is important not to give up the refund of the commission that is due. If the bank has responded to your letter and is trying to prove that you are not entitled to this refund – contact us! We will check the documents for free and recover your money.