AARP (and related discussions on Swiss Franc loans) (II)
in Banking, Insurance & Loans ·
rowdyraven112 said:If the conversion wasn't done, then obviously yes.
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We'll just have to wait and see.
If the initial loan is totally void because of these factors, then everything stemming from it is void too. If it’s null and void, the parties are supposed to return the original assets to one another...
In that scenario, I—for instance—would have already paid back the entire amount to the bank before the conversion even happened, and now I'm paying off a second loan used to close out the converted one... basically, I'd be paying back way more than what should be required if the loan were actually void.
Now, what our legal experts with actual proven expertise will come up with? That remains to be seen...