The consumer is only obliged to the return of capital, without interest
The Court of First Instance and Instruction 4 of Castellón has estimated its entirety a lawsuit brought by the Consumers Union of Castellón, in relation to the interest they were paying on a line of credit with the payment system revolving, that is to say, using your debiting the available balance of the line of credit and the satisfaction of a monthly fee of so much per cent, where it applied a T. A. E. of the 23,14% when -in the time of the contract – the operations of consumer credit to a term between 1 and 5 years had, on average, a TAE 8,32%.
As reported by the Consumers Union of Castellón (UCE) in a press release, the ruling “nullifies the contract signed by contain a usurious interest, and condemns the bank to refund to the petitioner the quantities paid during the life of the credit exceed the amount willing (interest, insurance, penalties for delay, and commissions)”.
The UCE indicates that on the basis of the Law of Repression of Usury (1908), the judge reminds that “will be null and void all contracts of loan in stipulated an interest far superior to the normal of the money and manifestly disproportionate to the circumstances of the case, or under such conditions as to prove that the leo”. It also highlights in its resolution that “the formalization of the loan is carried out by means of a simple printed that the bank had put into circulation, without which the financial institution will carry out any kind of previous information or requests a credit report,” according to the Consumers Union in its press release.
From the UCE of Castellón remember “the hazards of fast loans, since in many cases carry with them the payment of high interest rates”.
“we Recommend that all persons who have subscribed to a credit of these characteristics or have the calling cards revolving to review the conditions that applied to them as the bank in its day, since in many cases wouldn’t have to pay any interest, provided it appears clearly that the interest rate was abusive”.
To do this, the agency has developed a model of the claim by requesting the bank to the contract signed along with the balance of the account debtor, urging the financial institution to stop applying the interest abusive.
CARD REVOLVINGAsí informs a bank in the use of these cards in your web page
A card revolving is a type of credit card in which all purchases or cash withdrawals that are made with it, are deferred automatically. In this way, the user of the card can make the payment for these purchases in comfortable installments.
As with any credit card, payments may be made, regardless of whether they have money in the associated account, as purchases that are made are not loaded in the account immediately, but are postponed to be paid later.
credit cards conventional enable you to pay for everything spent the next month (without interest), or to defer the payment in installments (with interest). Cards revolving only allow you to defer purchases in the dues that choose the user of the card, which involves a series of interests that will come specified in the contract of the card.
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