Loan dispute · Austria

Direct answer

Every lender must have a complaints procedure and answer within a fixed deadline, so start there in writing. When they refuse, ignore you or the deadline passes, Gemeinsame Schlichtungsstelle der österreichischen Kreditwirtschaft (01 505 42 98) — the financial ombudsman for Austria — decides for free and the lender must follow. FMA — Finanzmarktaufsicht (01 249 59) licenses lenders and takes complaints about unlicensed or predatory lending, hidden costs and unfair terms. VKI — Verein für Konsumenteninformation (vki.at) helps with your rights as a consumer, such as the 14-day withdrawal from any credit agreement.

Call firstGemeinsame Schlichtungsstelle der österreichischen Kreditwirtschaft

Report toFMA — Finanzmarktaufsicht

If that failsVKI — Verein für Konsumenteninformation

🗣️ What to say

"I make a formal complaint about agreement [number]. [The interest / fee / charge] was not disclosed clearly / is not in the contract / the payment plan was changed without my consent. I ask you to [refund / correct] within the legal deadline and to confirm in writing."

🪜 Step by step

Complain to the lenderIn writing, with the word "complaint". They must answer within the legal deadline (often 15 working days, up to two months).
Check the paperworkPre-contract information, total cost of credit, APR — missing or misleading information can make fees unenforceable.
Withdrawal rightAny consumer credit can be cancelled within 14 days without reason, repaying only the capital and interest for the days used.
Escalate to Gemeinsame Schlichtungsstelle der österreichischen KreditwirtschaftFree, in writing, binding on the lender up to a limit. Attach the complaint and the answer.
Unlicensed lender: FMA — FinanzmarktaufsichtCheck the register. An unlicensed lender cannot enforce interest and may not enforce the loan at all.

📇 All contacts

Gemeinsame Schlichtungsstelle der österreichischen KreditwirtschaftFree dispute resolution with banksAfter complaining to the bank without a solution📞 01 505 42 98 🔗 www.bankenschlichtung.at

FMA — FinanzmarktaufsichtSupervises banks and insurers; warningsUnauthorised firms, systematic misconduct📞 01 249 59 🔗 www.fma.gv.at

VKI — Verein für KonsumenteninformationAdvice, template letters, collective actionsWhen the seller refuses🔗 vki.at

Staatlich anerkannte Schuldenberatung (ASB)Free debt advice, personal bankruptcyAs soon as bills cannot be paid🔗 www.schuldenberatung.at

❓ Frequently asked

Buy-now-pay-later counts as credit?

Yes since the 2023 consumer credit rules: same complaint rights, same ombudsman, and the fees must be disclosed up front.

They added a "late fee" I never saw

A fee not in the contract cannot be charged. Dispute it and complain; the ombudsman removes these routinely.

Can they take money from my account?

Only with a valid direct-debit mandate you gave. You can revoke the mandate at the bank and reverse unauthorised debits.

📎 Sources

Last checked: 2026-09-26

🔎 Common searches

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“loan company complaint Austria”
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“withdraw from credit agreement 14 days”

🧭 Is this still correct?

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