Withdraw from Credit Agreement — act in time
Create your withdrawal letter for a credit agreement in seconds. The AI drafts a professional letter invoking your statutory withdrawal right under § 495 BGB.
Important Tips
- Withdrawal period: 14 days from conclusion of contract and receipt of all mandatory information (§ 495 BGB, § 355 BGB)
- Amounts already disbursed must be repaid within 30 days
- Interest must be paid for the period of credit usage
- If the withdrawal instructions were incorrect, the deadline may be significantly longer
Notice Period
The withdrawal period is 14 days from conclusion of the contract, provided all mandatory information has been given (§ 495 BGB in conjunction with § 355 BGB). If mandatory information is missing or incorrect, the period does not start running.
How It Works
Describe
Describe in plain language what you want to write.
AI Creates Your Letter
Our AI generates a professional letter in DIN 5008 format.
Sign & Receive
Sign digitally and receive the finished PDF by email.
Frequently Asked Questions
When does the withdrawal period start for a credit agreement?
The 14-day period begins upon conclusion of the contract, but no earlier than when the lender has provided all mandatory information under Art. 247 § 6 EGBGB — in particular the withdrawal instructions. If mandatory information is missing, the period does not start and the right of withdrawal remains unlimited in time.
What happens to the loan already disbursed after withdrawal?
The borrower must repay the received loan within 30 days of sending the withdrawal (§ 357a Abs. 1 BGB). Interest at the agreed nominal rate is owed for the period of capital usage.
Can I also withdraw from a car loan?
Yes, car loans (consumer credit agreements) are also subject to the 14-day withdrawal right. In a linked transaction (purchase and credit form a unit), the withdrawal of the credit agreement also extends to the purchase contract — the vehicle must then be returned.
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Create withdrawal
Create your withdrawal letter for a credit agreement in seconds. The AI drafts a professional letter invoking your statutory withdrawal right under § 495 BGB.
Create withdrawal