• The President of UOKiK has issued decisions regarding 18 loan companies in relation to settlements in case of early repayment of a consumer loan.
• Pursuant to the law, the position of the President of UOKiK and the CJEU judgement, if a consumer has repaid a credit before its due date, the lender is obliged to reimburse them the proportional part of the fees charged using the straight-line method.
• Do you suspect that a financial institution has incorrectly settled the fees due? Visit finanse.uokik.gov.pl and check the estimated reimbursement amount on the UOKiK calculator and file a complaint.

In July, we informed that as a result of the UOKiK's efforts, the customers of 14 biggest banks can already count on a proportional reimbursement of fees for an earlier repayment of a consumer credit or loan according to the straight-line method. The Office also safeguards the interests of consumers who are in a similar situation but have borrowed money from non-banking institutions. Following the ruling of the Court of Justice of the European Union of September 2019, which dispelled the last doubts regarding settlements of early repayment of consumer credit, the President of UOKiK has issued decisions regarding 18 loan companies. Another 4 proceedings are pending, involving the charge of violation of Article 49 of the Act on Consumer Credit, and 5 explanatory proceedings.

– In the situation of early repayment of  consumer loan, banks and loan companies must honestly settle all fees and commissions charged. I held a number of meetings with financial sector representatives, during which I argued that a straight-line method should be used to calculate the return, as this method is clear, transparent and fair to consumers. I encourage consumers who have repaid a credit or a loan earlier to file a complaint to get their money back according to the straight-line method – says Tomasz Chróstny, the President of UOKiK.

Following the CJEU judgement, the President of UOKiK has issued decisions concerning the following loan companies (in alphabetical order: Aasa Polska, Eurocent, Euroexpert, Euro Providus, Everest Finanse, Honesta Finanse, iCredit, Kredyty Partnerskie, Mikrokasa, Optima, Profi Credit Polska, Takto Finanse, Unilink Cash, Vivus Finance, Zaplo and Złotówka Duo, Złotówka Bis, Złotówka Three. Some of them have already ceased their illegal settlements and some have been obliged to do so by decision of the President of the Office. Customers of all the above institutions may file complaints and demand proportional reimbursement of fees for an earlier repayment of a consumer credit or loan according to the straight-line method.

According to the estimates of the Office of Competition and Consumer Protection, consumers can recover about PLN 1.5 billion from banks and loan companies due to the early repayment of a consumer loan or loan - it is worth submitting a complaint as soon as possible, which is the basis for recovering funds collected from customers as part of fees and commissions. A proportionate part of them must be returned to consumers in the event of early repayment of the financial product.

The straight-line method is based on the principle that the financial institution divides all costs by the number of calendar days during which the contract was to apply. The result is multiplied by the number of days by which the credit period was shortened - and this is the sum that should be returned to the consumer.

Please note - you may apply for a reimbursement of an earlier repaid consumer credit or loan if you concluded the contract after the entry into force of the Consumer Credit Act, i.e. after 18 December 2011. Limitation periods for lodging a claim are 10 years for repayments made before 9 July 2018, and 6 years for repayments made after that date.

You can use our credit calculator, that will help you calculate the estimated amount to be reimbursed based on the straight-line method. When applying for a reimbursement, you can use the ready-made form and send it to a financial institution.

Moreover, we encourage you to read UOKiK's position of 2^nd March 2020, which is available at finanse.uokik.gov.pl.

Consumer support:

Phone: +48 801 440 220 or +48 22 290 89 16 – consumer helpline
E-mail: [SCODE]cG9yYWR5QGRsYWtvbnN1bWVudG93LnBs[ECODE]
Consumer ombudsmen – in your city/town or district
Regional Consumer Centres: Phone: +48 22 299 60 90 – Dlakonsumenta.pl

Additional information for the media:

UOKiK Press Office
Pl. Powstańców Warszawy 1, 00-950 Warszawa, Poland
Phone +48 695 902 088, +48 22 55 60 246
E-mail: [SCODE]Yml1cm9wcmFzb3dlQHVva2lrLmdvdi5wbA==[ECODE]
Twitter: @UOKiKgovPL