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I've never seen this in my life! (The exception being overdrafts in Blighty which don't have fixed repayments agreed. Even then, the bank can't act unfairly).
by GJim 2y ago
I've never seen this in my life!
(The exception being overdrafts in Blighty which don't have fixed repayments agreed. Even then, the bank can't act unfairly).
Where do you live where this is the commonplace? Such terms would be laughed at here.
- withinboredom 2y agoI've lived in the EU and all over the US. I've yet to see a loan where there isn't a clause allowing them to collect the entire loan under certain conditions, or even, in some cases, for any reason. Would you loan a bunch of money to someone if you couldn't say "sorry, you lied to me and I want my money back" or "you've missed 8 payments in a row, I want the remainder now and if you don't have it, we'll go to court?" Check your loan agreement, I'm fairly confident there are ways for them to collect the full amount immediately.
- cjblomqvist 2y agoCertain conditions and any time is quite different though
- GJim 2y ago> under certain conditions This is very different from allowing the loan to be recalled "at any time" as you first stated.