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When submitting the application – regardless of how – you should make sure whether the bank makes the entry into force of credit holidays conditional on the conclusion of an annex, or whether the suspension of installments is somehow automatic at the time of submission of the application, while the annex has only the grace value . It may also be that if there are several days left until the next installment payment date, the application will apply only to the next installment due next month and the next. Because banks usually stipulate a written form for their changes in the agreements, submitting the application for suspension of installments and even its system confirmation (e.g. in the form of an SMS from the bank) do not yet constitute a significant extension of the loan repayment period.
In the first phase of the coronavirus epidemic, some banks began to use templates of applications and annexes on deferred payment of installments, which raised concerns among borrowers repaying loans indexed or denominated in foreign currency (especially in the Swiss franc). These were provisions confirming the amount of the loan balance or obliging them to pay installments on time after the grace period. There was a risk that such provisions could be later – i.e. in a dispute with the bank seeking to obtain a refund of the overpayment, annulment of the contract or recognition of the loan as PLN – used by the lender as one of the arguments in defense of such claims.
As a result of complaints received by the Office of Competition and Consumer Protection, its President initiated in April this year. an investigation in which it checks the conditions under which financial institutions offer borrowers a deferred payment. As a result, banks began to withdraw the conditions of credit holidays that are unsafe for consumers.
The conclusion of an annex regarding credit holidays does not constitute acceptance of the debt in the amount specified by the lender, nor is it relevant for consumers seeking claims arising from the contract.
The first three anti-crisis shields did not provide for credit holidays at the borrower’s request. Until now, installments were postponed at the borrower’s request and with the bank’s consent, which, however, does not always take place. Sometimes it was enough for the negative decision not to pay the installment from the period before the pandemic.
Only shield 4.0 brings a statutory solution thanks to which borrowers who after March 13 this year. they have lost their job or other main source of income, they will be able to inform the bank about their decision to use the suspension for up to 3 months of the full loan installment (principal and interest). It is sufficient in addition that the loan was granted before March 13, 2020, and its repayment date falls after September 13, 2020, for the bank to be forced to implement such a credit vacation at the borrower’s request.
Example: One of the banks gives its clients a choice in the form of applying for:
– extension (suspension of repayment of principal and interest installments) for a period of 3 months with simultaneous extension of the loan period for the same period for which the extension was granted,
– grace period (suspension of capital repayment) for a period of 3 months with a simultaneous extension of the loan period for the same period as the grace period.
author: Tomasz Konieczny
Gazeta Podatkowa No. 51 (1717) of 2020-06-25
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