CCA Cooling Off Period.

Cashpig74

What EXACTLY should a Credit Agreement state when it mentions about "your right to cancel"?

I have an agreement that says I have a "short period of time" in which I can cancel this agreement. How long or short is a "short period" of time?

I thought it was 14 days - having read up on it since...

Is the agreement mis-worded..?


Thanks in advanced..:eek:

jonesMUFCforever

Some which are signed on bank premises have no cooling off period others will have as you say up to 14 days.

Do you want to cancel?

Cashpig74

No I dont want to cancel, i want to see if what is on the agreement is correct and above board. I signed the agreement at the bank itself and the agreemtn says:

""I have a short time in which to cancel this agreementl. The details of how and when you can do this will be sent to you.""

I was under the impression that I had a specific amount of time and that they had to inform me of that. It was a loan agreement - not a HP or anything like that.

i didn't (to the best of my recollection) receive any other documents in the post about the loan after i left the bank. I had to request a copy of the agreement by post when i decided i wanted to look at it closer.