Finding an online loan without a processing fee is no longer a problem. Many online providers present themselves as modern service providers who want to conclude legally compliant contracts.
Online loan with no processing fee – modern loan offers
Credit fees are always a hot topic. An online loan with no processing fee was hard to find not so long ago. An old-time relic has traditionally cost almost every loan. Even with a premature loan payment, the processing fees were considered used up and were not proportionately back-calculated. The processing fee was justified with a view to a time before the introduction of the computer in everyday work. At that time, lending was almost entirely manual.
Even for a simple Schufa information, the employee had to first make a phone call and finally send a letter. This work has been eliminated for years, has remained only the fee with which this work was once paid. More and more customers annoyed the completely overworked processing fee of their credit agreements.
A simple mouse click for the Schufa information, the transfer of the name into a ready-made form, the banks were well paid. With a loan amount of 10,000 euros were usually about 200 euros fees due.
Processing fees on the test bench
This fee practice is expected to be over soon. It will probably soon be only online credit without processing fee. More and more higher regional courts assessed processing fees as non-compliant.
However, it may take a while to reach a supreme court decision. The defendant banks, savings banks as well as online active lenders, gave up so far always. Recently a defendant savings bank pulled back the revision.
So far, all defendant banks fear the way to the last instance. A supreme court decision, in the sense of the Higher Regional Courts, could lead to widespread recovery of credit customers.
The consumer centers call on credit customers to raise against processing fees, as soon as possible objection. Thus, the limitation periods are stopped. Class action lawsuits are already in progress through various lawyers. Consumers can join these complaints through consumer protection sites.
Modern credit institutions have responded
At the end of 2012, it appeared that the entire banking industry wanted to ignore the changed legal situation. Despite already eight lost cases, before various higher regional courts, the spokesmen of the banking industry insisted on the maintenance of the processing fee.
Meanwhile, it has become quiet about the processing fees. As reputable companies, at least all well-known online credit institutions have adapted their business practice to the modern legal situation. The online loan with no processing fee, which is now offered virtually nationwide.