Can I pay back the loan for another person?
An online loan is easy to take out, but it is much harder to pay back – many borrowers have already seen this. Often, however, they can count on the helping hand of family or friends who are willing to grant a private loan to repay or repay the loan on their own. While giving a loan or donating money privately does not pose an interpretation problem, repayment of the loan for someone can raise doubts as to whether it is acceptable.
The loan cannot be repaid without the borrower’s consent
Sometimes there may be situations in which we would like to repay a loan for someone who does not want to pay it back – because he is driven by shame, pride or unwillingness to burden someone with his financial obligations. It is also often the case that a person who wants to pay back a loan does not trust the right borrower and may have the right suspicion that he will use the borrowed money not to pay the debt, but for other, unnecessary things. A person lending their funds wants to be sure that their funds will go where they should.
Unfortunately, if we have only rudimentary information about the loan (e.g. only the name of the company), we have virtually no way to find out how to repay it. A loan company has a statutory obligation to protect its clients’ personal data and not to disclose it to any third parties, even if they are closely related to the borrower or are married to him. Bank secrecy prohibits giving details of the obligation, which are necessary to repay the loan. In such a case, the borrower could challenge the act, and the loan company would have to face criminal liability.
Loan companies don’t always say no
The situation is different when the loan is repaid with the explicit consent or at the request of the borrower himself. He has the right to dispose of his data as he wishes and there are no contraindications that he would tell another person about the existence of the loan, and even provide appropriate data enabling the repayment of the loan – bank account number, amount to be repaid. Similarly, if we pay someone’s bills or pay installments from our bank account.
It is not forbidden
In the same way you can pay back a loan – you just have to be careful to enter the loan agreement number in the title of the transfer, so that the loan company does not have a problem with the identification of the repayment and linking it with a specific borrower. It is good, however, to contact the company beforehand and inform you that the commitment will be repaid from a bank account belonging to another person. The company will probably instruct the borrower on how to make the transfer so that it can be easily considered a repayment. However, you should remember that the borrower must contact an employee of the company – another person, as we wrote, will not get any information from the company.
The situation is similar in a bank where loan installments are usually repaid from the same account in which the borrower has a bank account. It is true that the bank, like a loan company, cannot provide information about a loan, but anyone can go to the bank and deposit the appropriate amount of money into the bank account of the borrower, as long as he has the appropriate data: name and bank account number.