Revolving Card Claims
¡Claim your money and don't let what belongs to you go to waste!
Our goal is for you to recover all the interest you have overpaid since you contracted the card. These interests are abusive and usurious, and that is why we can claim them for you. This way, we will manage to cancel the card and get you the money that has been unjustly charged to you.
If you are a credit card holder, you may be among the thousands of people affected by these consumer loans, and you may not know that you are being charged exorbitant interest rates ranging from 18% to 25%.
The majority of those affected, due to the need for money, fell into the trap of financial institutions and were granted a personal loan or a credit card to have extra credit every month.
What financial institutions hide is the term and the abusive interest rate, much higher than the normal market rate. These are called "revolving" cards, which are sold to consumers as very beneficial, allowing them to split their purchases, but they have a very complicated and incomprehensible calculation system for the consumer. Most consumers do not realize until they start paying that they are being charged disproportionate interest rates.
What criteria is used to determine if the interest rate is excessive?
In general, the APR is considered abusive when it exceeds 20% or 21% (these figures should be compared with the statistics from the Bank of Spain, but generally, this is the limit). When the contract is not clear, that is, it does not describe well how the revolving card works, or it is written in very small print... Almost none of them meet this requirement.
What reasons are there for you to get your money back?
The Supreme Court has ruled that banks that have applied exorbitant interest rates will have to refund all the interest they have charged. In these cases, the client will only have to repay the capital that the bank has lent them. In the case of revolving cards, almost all those sold before 2020 had excessive interest rates.
What amount can be recovered?
You will be refunded the interest you have paid and any charges that have been applied to you (for example, the charge they make if you are late in paying a monthly installment, the insurance they charge you for the card...).
For example: a person, with a revolving card, has purchased a computer for €1,000, and they will pay it off in 10 installments of €125. When they have paid off all the installments, they will have paid €1,250.
In this case, if it is determined that the interest rate is excessive, the bank will have to reimburse them €250 plus interest from each of the payments. If they have also been charged for insurance, they would also recover that amount.
¡Get the nullity of your revolving card contract and recover what belongs to you!
Call us at 622151600 or leave your message at info@losanaabogados.com.
