FlexFinance makes a distinction between two types of rescission by borrowers. A borrower can rescind an entire lending agreement and can also rescind the residual debt insurance provided that this was concluded beforehand and is not bound to the lending contract.
Deadlines for rescissions can be stored individually in FlexFinance and made plausible prior to execution.
Rescission of lending contracts
A lending contract is reversed on rescission. In this case, the entire lending amount including the unpaid interest is invoiced. In return, the repayments and interest payments that have been made are refunded. To facilitate processing, the claims of the bank and the customer are offset against each other.