The defendant is a limited liability company, submitted in the register of entrepreneurs. It is a financial corporation offering cash loans for individuals and for business clients.
The defendant offered consumers a cash loan for an amount ranging from PLN 5000 to PLN 300,000, for a period from 1 to 30 years. When concluding an agreement, the consumer filled out the amount of the loan and the envisaged period for its repayment. Such action was designed to provide the parties with the exact contract terms at the time of singing of the agreement.
However, in the preliminary agreement the trader calculated the applicable interest rate on the repayment of the laon based on objective economic indicators, without taking into account individual data, for example, the amount of loans and the repayment period. Moreover, the defendant used a standard form of a loan agreement in which it was stated that the contracts are consistent with the requirements of the Polish legal system, and in particular with the requirements as set out in the Consumer Credit Act and the Competition and Consumer Protection Act.