What are my rights if my bank forces unauthorized loans on me?
May 5, 2023 | 40,00 EUR | answered by Carsten Ahlert
Dear lawyer specializing in banking law,
I am reaching out to you as I have found myself in an unpleasant situation with my bank and am unsure of how to defend myself against it. My name is Lucas Lahn and I have been a customer of XYZ Bank for over five years. Recently, I have noticed that the bank has been offering me loans more frequently, even though I have not requested them.
I already have several loans with the bank and I am starting to feel overwhelmed by the financial obligations. Additionally, I am concerned that the bank may continue to push unwanted loans on me, further worsening my financial situation. I am wondering what rights I have as a customer in this situation and how I can defend myself against the unwanted loan offers from the bank.
I would like to know if the bank even has the right to impose unwanted loans on me and how I can legally protect myself against this. Are there any specific laws or regulations that protect me as a consumer in such cases? What steps can I take to stop the unauthorized loans and stabilize my financial situation?
I would greatly appreciate it if you could assist me in this matter and provide me with possible solutions or legal steps. Thank you in advance for your support.
Sincerely,
Lucas Lahn
Dear Mr. Lahn,
Thank you for your trust and your inquiry regarding the unwanted credit offers from your bank. It is understandable that you feel overwhelmed in this situation and are looking for ways to defend yourself. As a lawyer specializing in banking law, I am happy to assist you and will explain in detail what rights you have as a customer in this situation and how you can legally protect yourself.
First and foremost, it is important to understand that banks do not have the right to impose unwanted loans on their customers. This violates existing laws and regulations on consumer protection. Banks are obligated to assess the creditworthiness of the customer when granting loans and ensure that the customer is able to meet their financial obligations.
Therefore, if the bank offers you unwanted loans without your request or without adequate assessment of your creditworthiness, it is illegal behavior on the part of the bank. As a consumer in this situation, you have various options to defend yourself.
First, you should clearly inform the bank in writing that you do not want any further loan offers and that these unwanted offers should be stopped. If the bank continues to offer unauthorized loans, you can contact a consumer protection agency or a lawyer specializing in banking law to take legal action.
There are specific laws and regulations that protect consumers in such cases, such as the Civil Code (BGB) and the Consumer Credit Act (VKG). These laws regulate, among other things, the conditions for granting loans and the rights of consumers in cases of unwanted credit offers.
To stabilize your financial situation, I also recommend creating a detailed overview of your existing loans and financial obligations. You may also consider refinancing or canceling a loan to reduce your financial burden.
I hope this information helps you and supports you in your situation. If you have any further questions or need legal assistance, please do not hesitate to contact me.
Best regards,
Carsten Ahlert
Lawyer specializing in banking law
