Any borrower wishing to manage his consumer credit contract is required to send different standard letters to his bank or lender. Exchanges that are always highly codified, but essential to assert your decisions. Find out how to formulate the letters of request for the most common operations: withdrawal, repurchase of credit, early repayment, and termination of revolving credit.
Consumer credit: why use standard letters?
For the borrower, using standard letters facilitates his banking procedures by knowing which formality to respect for each particular case. In addition, it saves precious time when a request must be made within a very short time, imposed by a legal standard or by a clause of the loan contract. The regulatory references are already provided, it only remains to complete the letter by adding his personal information to specify his identity and his situation, as well as additional data useful on request.
Whenever making contact with the banking establishment, the borrower must in particular recall the references of the consumer credit concerned by the process. This is all the most important if several consumer loans are managed by the same organization. So always mention at least the loan file number, even its nature and amount.
Consumer credit: at each stage its standard letter available
– The consumer credit withdrawal letter cancels the acceptance of a loan offer during the 14 days following the signing of the contract. It must be sent by registered letter with acknowledgment of receipt.
– The consumer credit repurchase letter is a request addressed to one or more banking organizations to group several consumer loans (personal loan, assigned loan, revolving loan) into a single new loan. A simple letter is enough in this case.
– The prepayment letter is used to pay by check all or part of the capital remaining due from a current consumer credit. Without being mandatory, the registered letter is strongly recommended, especially if the sums involved are substantial.
– The termination letter is to be sent when one wishes to close a revolving credit definitively, without waiting for its automatic deletion due to non-use. It is essential to use a registered letter with acknowledgment of receipt.