For a long time, people have been talking about changing their payday loans. This was because there was a marked increase in interest rate mortgages over recent years.
New Mortgage Law
They had become more popular among the Danes. Unfortunately, this also meant that more people exceeded the repayment deadline. Therefore, a rule would be introduced to reduce the amount of repayable loans. but at the same time it was also important to have enough freedom to take out a quick loan.
In May 2016, therefore, the draft law on a period of reflection was adopted. That is, as of January 1, 2017, there was a reflection period of 48 hours.
What does the reflection time mean to you?
The reflection time means that you have to wait 48 hours before you can accept a quick loan. You can therefore not accept a quick loan within 48 hours. So it may sound like the thought break is a hassle, but it is there to help. The purpose of the break is for you to get more into a loan offer and the information provided.
However, this amendment does not only apply to quick loans
All types of loans with a maturity of less than three months are covered by this Act.
However, if you still have an unexpected expense that cannot wait, you can benefit from a credit with us. Borrow up to 15,000 kroner for 12 months and pay back whenever you want. Then you also only have to pay for the days on which you borrowed money.