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JUSTICE DECLARE A LIBERBANK “REVOLVING” CARD VOID

The Court of First Instance No. 3 of Gijón, in its ruling No. 125/2018, of May 24, has declared void the contract for a Cajastur Visa Oro "revolving" or compound interest card, understanding that said contract is usurious. The ruling explains that the appellant invokes the Usury Repression Law according to which "Any loan contract that stipulates an interest noticeably higher than the normal amount of money and manifestly disproportionate to the circumstances of the case or under conditions such that it results that leonine (...)". To these…

THE BANKING ENTITY WIZINK IS CONDEMNED TO RETURN 12,000 EUROS

Loans and cards with high interest rates: the courts accumulate lawsuits and agree with the consumer for usury April 22, 2019 The ambiguity of the regulations on loans in Spain not only allows any company and even individuals to lend money, but also to have freedom in determining interests and commissions. The courts are already beginning to set limits on the abusive types who ruin hundreds of citizens. The Court of First Instance and Instruction number 1 of…

MORE THAN 300 ASTURIANS SUE AGAINST THE “REVOLVING” CARDS

Users claim the nullity of the contract based on the Usury Law Since August, 300 Asturians have filed lawsuits for usury on cards and bank credits known as "revolving." They are lines of credit granted to a client for a certain time and with an established limit. These users claim the nullity of the contract based on the Usury Law of 1908 and the Supreme Court ruling of 2015, which understood that the interest rate of this…

THE “REVOLVING” SPIRAL: EASY MONEY ALMOST IMPOSSIBLE TO RETURN

A 39-year-old resident of Vigo never thought that 2006 would change his life. He had no liquidity and looked for quick money. First error. "I was bankrupt, so, out of ignorance, I asked two of these entities for money." He talks about financial companies with quick money and without consulting risk. He asked each of them for 2,000 euros. «Things did not improve and I had to increase each credit up to 6,000. Twelve years later, I still owe them money, and that...

JUSTICE DECLARE A LIBERBANK “REVOLVING” CARD VOID

THE BANKING ENTITY WIZINK IS CONDEMNED TO RETURN 12,000 EUROS

MORE THAN 300 ASTURIANS SUE AGAINST THE “REVOLVING” CARDS

THE “REVOLVING” SPIRAL: EASY MONEY ALMOST IMPOSSIBLE TO RETURN

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