Revolving archivos | teloRECLAMO

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…

CUT TO THE EXCESSES OF “REVOLVING” CARDS

The Government will limit by law that customers of self-renewing credits increase their debt indefinitely. The Ministry of Economy is preparing a law to modify the Transparency and Protection Order for Banking Services Customers and reinforce the protection of users of credits of indefinite duration or automatic renewal. The objective is to prevent an excessive increase in the interest burden on the debt incurred by the users of these financial credits and which are usually linked...

«I OWE 12,000 EUROS AND EVERY DAY THE DEBT GROWS. IT'S UNLIVING»

Revolving cards or credits allow the user to defer payments for all their purchases. The lender offers, without any control over whether or not the consumer will be able to return it, a monthly capital that the client returns through fixed installments, yes, with very high interests that sometimes reach close to 30% APR. The Superior Court of Justice itself has described this service as “usurious”, and despite all the controversy with them, they continue to exist. At SER Consumidor we have…

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...

ORDER TO INCREASE THE PROTECTION OF “REVOLVING” CREDITS CUSTOMERS

The new regulations will improve the protection of clients of this type of credit, which is characterized by automatic renewal and payment of a fixed monthly fee. The modification of the rule reinforces the information that the borrower receives from the entity and reduces the risk of excessive extension and increase of credit. The Ministry of Economy and Business has published in a public hearing the proposal to modify Order 2899/2011 on transparency and customer protection of…

REVOLVING: AN OLD WOMAN DISPOSED 3,000 EUROS AND HAD TO RETURN 4,510

Several court rulings in Asturias agree with clients who demand their money back from the banks. The Provincial Court of Gijón condemns BBVA to return around 1,500 euros to a client who reported the entity for the abusive interest on her credit card, which amounted to 24.6%. Although there is still some reluctance among those affected by revolving cards in Asturias to take the step and report their case to the courts,…

OPPOSITION TO THE MONITORY IN A CREDIT CARD AGREEMENT

In this article we are going to see how part of the Provincial Courts considers the opposition to the monitoring in a credit card contract when the financial entity (creditor) does not provide with the request for the monitoring procedure the documents that must justify the debt. What we are trying to do, NOT PROVIDING SUPPORT FOR THE DEBT, is very common on the part of financial entities when they present demands for monitoring proceedings in the Courts. Article 812.1.2 of the Civil Procedure Law (LEC) establishes that anyone who claims otherwise may resort to the monitoring process…