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=S=> BGB 496. 1 An agreement by which the borrower waives his right under section 404 to make against an assignee of the obligation objections to which he is entitled against the lender , or his right under section 406 to set off against an assignee of the obligation too a claim he has against the lender , is ineffective .
=S=> BGB 496. 2 If a claim of the lender from a loan contract is assigned to a third party , or if the identity of the lender is changed , the borrower must be notified of this without delay , as well as of the contact data of the new creditor in accordance with section 1 ( 1 ) Nos . 1 to 3 of the Civil Law Ordinance on Duties to Provide Information [ BGB-Informationspflichten-Verordnung ] . Notification shall be dispensable with assignments if the previous lender has agreed with the new creditor that only the previous lender is identified in the relationship with the borrower . If the preconditions of sentence 2 continue , notification must be subsequently carried out .
=S=> BGB 496. 3 The borrower may not be obliged to incur a bill of exchange commitment for the claims of the lender under the consumer loan contract . The lender may not accept a cheque from the borrower to secure his claims under the consumer loan contract . The borrower may require the lender at any time to return a bill of exchange or cheque that has been issued in violation of sentence 1 or 2 above . The lender is liable for all damage incurred by the borrower as a result of the issue of such a bill of exchange or cheque .
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