The savings financing method is an increasingly popular financial solution in our country, especially preferred by individuals who do not want to use loans through banks. Savings finance companies, often called "home companies", frequently advertise in the media as "interest-free home" or "interest-free vehicle" acquisition and attract the attention of the public with these features.
What is a Savings Financing Agreement?
Savings financing contract is a type of contract defined within the framework of Law No. 6361. This type of contract gives customers the right to obtain financing for the acquisition of housing, a roofed workplace or a vehicle, subject to a certain savings amount and period, if predetermined conditions are met. At the same time, it gives companies the right to manage the savings accumulated by customers, make repayments and provide financing, and the right to charge organization fees. This financing method is based on interest-free financing principles.
What is a Savings Finance Company?
Savings finance companies are organizations that meet the conditions specified within the scope of Law No. 6361 and are established with the permission of the Banking Regulation and Supervision Board (BRSA). These companies carry out savings financing activities and are subject to BRSA supervision, just like banks.
What is the Subject of the Savings Financing Agreement?
The subject of the savings financing agreement is to provide financing only for the acquisition of housing, roofed workplaces and vehicles. This is clearly stated in the Regulation on the Establishment and Operation Principles of Savings Finance Companies. This regulation determines the areas in which companies can operate and the limits of these activities, thus helping to protect the rights of both consumers and companies.
Organization Fee and Right of Withdrawal in Savings Financing Agreement
What is the Organization Fee?
Within the framework of the savings financing agreement, the organization fee is the fee that savings financing companies demand from customers in return for managing the savings fund pool and carrying out related financing activities. This fee is collected in return for the services provided by the company and is specified in the contract details.
Right of Withdrawal from Savings Financing Agreement
Customers have the right to withdraw from the contract within 14 days after signing the savings financing contract without providing any reason. In order to exercise this right, companies must provide clear information to customers about the right of withdrawal through the preliminary information form and the withdrawal must be done in a verifiable manner. When the customer exercises his/her right of withdrawal, the savings finance company is obliged to refund all amounts paid within 14 days without any deduction.
Termination of Savings Financing Agreement
In accordance with Article 39/A of Law No. 6361, customers have the right to terminate the contract after the 14-day withdrawal period has passed, before the savings period ends and the financing period begins. During this process, the company must provide the necessary information to the customer regarding the right of termination. If termination occurs, a refund of the fees paid, excluding the organization fee, is required.
Payment Refund in Case of Termination and Withdrawal
If the savings finance company acts contrary to the terms of the contract, for example by not providing the financing required to be allocated on the specified date, when the customer terminates the contract, all fees paid, including the organization fee, must be refunded.
These provisions show that savings financing agreements provide significant protection for consumers and contain detailed regulations to protect the rights of those who will benefit from such financial transactions.
Legal Actions Due to Violation of the Savings Financing Agreement
Filing a Lawsuit Process:
Although customers have exercised their right of withdrawal or termination within the scope of the savings financing agreement, they have the right to file a lawsuit against the relevant savings financing company if their fees are not refunded in full or at all. During this process, it is recommended that customers work with an experienced lawyer who is knowledgeable about the subject so that they can defend their rights effectively. In practice, grievances may occur due to procedural errors made during withdrawal and termination procedures, and these situations play an important role in legal struggles.
Collection and Return Processes:
Depending on the outcome of the cases, the courts may decide to refund all of the amounts paid to savings finance companies or the remaining parts, excluding the organization fee, together with legal interest. These decisions are made taking into account the company's non-contractual behavior and the grievances experienced by the consumer. It varies depending on the nature of the case and the circumstances of the concrete case.
Importance of Legal Consultancy:
Since such cases usually involve complex legal processes, it is of great importance for customers to work with a lawyer who is an expert in their field in order to protect their rights and get the most appropriate result. Lawyers determine the most effective legal strategy by taking into account the terms of the contract, the applicable legislation and the special circumstances of their clients.
In case of violations in savings financing contracts and failure to exercise the right of withdrawal or termination properly, it is recommended that customers take legal action to resolve their grievances and protect their rights, and that these processes be carried out through professional lawyers. In this way, consumers can receive the refunds they deserve and fully exercise their contractual rights.