There are many disputes between human rights activists and banks over the invalidation of the loan agreement. Most often, problems arise when there is an agreement concluded in foreign currency. Usually the borrower sues the bank if he wants to convert the foreign currency loan into rubles at the exchange rate at the time of issue.
Instructions
Step 1
Recognition of a loan agreement as invalid usually occurs in several cases, for example, if the bank at the time of issuing a loan in the license did not have a clause regarding permission to grant loans in foreign currency, or if the bank did not have an individual license for settlements in foreign currency between clients and the bank … Banks often argue that they are placing currency, i.e. transfer for temporary use, and do not transfer ownership of it.
Step 2
The loan agreement is considered invalid if, upon its conclusion, there was a violation of the legislation in the field of consumer protection. If there is evidence that the client did not receive currency in his hands, or rather signed all the necessary documents, but did not receive the money, then the loan agreement can also be declared invalid.
Step 3
Termination of the loan agreement and its recognition as invalid may occur due to a significant change in the circumstances that guided the parties when concluding the agreement. In this case, circumstances are recognized as significant, foreseeing the change of which, the parties would not have concluded this agreement. In this case, it may be an increase in the exchange rate.
Step 4
It is also possible to recognize the loan agreement as invalid if there is no written consent from one of the spouses, which is necessary when concluding a mortgage transaction. This situation is possible if the spouses live without official registration of marriage, when the actual marriage relationship is established in the process of considering a loan application or after the divorce of the spouses.
Step 5
A loan agreement in which there is a violation of Russian laws, the provisions of which the bank was obliged to inform the borrower about when issuing a loan, but did not do so, may be recognized as invalid. Failure to comply with the law gives the right to invalidate the loan agreement.
