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Abusive cards and loans

Are my loans, credit cards or microcredits abusive?

It is very likely that yes. We will tell you without obligation through a free consultation.

Firstly, they are marketed and advertised as a form of quick and easy money. The hook that most companies in this sector use, such as Cofidis, Vivus, Wizink, Cetelem or Creditea, It could be considered not very transparent due to the high interests and costs assumed when contracting it.

Secondly, the interests on this type of credit are already very high. Furthermore, the annual nominal interest is usually higher than the 20% without counting the commissions that arise during the contract, among which we find: opening commission, notarial formalization expenses, expenses accrued for guarantees granted by entities other than those granting the loan, premiums insurance agreements arranged in favor of the entity with a third party, study commission...

In fact, the Supreme Court itself has established that a little more than the 20% APR should be usury.

How much can you claim for a quick loan, microcredit or revolving card?

Credit, be it a microcredit, quick credit or credit card, that fails to comply with this limit must be considered usurious and void.

As a consequence, the consumer is only obliged to return the amount received, without any additional interest. Additionally, you may demand a refund of any overpayments you have made.

That is, you will only have to return the money they lent you and you will have the right to receive back everything you have paid above that amount (including interest, commissions, insurance, etc.)

Once we can see the documentation we will be able to tell you more precisely.

What documentation do we need to claim?

You have had to receive receipts or settlements by mail or through the online platform.
Card or loan contract.
Photo of the DNI on both sides.
Authorization signature and professional order form so that we can claim on your behalf.

What happens if I don't have documentation?

Finding the documentation greatly shortens the deadlines, although if it is not possible to find it, we can claim it on your behalf.

I finished paying or canceled my card or loan years ago, can I claim?

Yes. In fact, if entities have applied abusive interest rates, you will surely recover money.

How much will it cost me to claim?

We only charge if we manage to recover money or reduce your debt. That is, you will not have to make any initial payment. Only when the claim is successful will we collect a percentage of the amount recovered or the reduced debt.

What happens if I have recently taken out my loan or card or have paid few installments?

It will have to be studied case by case. If your loan or card is very recent, it is probably best to wait to cover the principal with the installments.

Am I running any risk?

All judicial procedures have risks, but in this type of procedure almost all sentences are upheld.

There are also dismissals, with costs, but you must keep in mind that, if we do not see it viable to file the lawsuit, we will tell you. As we only get paid for our work if we win, and we don't want to waste time, in cases where we are not clear about the claim we will not initiate it.

Can it harm me with my bank in relation to other contracted products?

No, each claim only affects the specific contract and your bank will not penalize you in any way.

Do I have to go to court?

No. Your presence at the trial will not be necessary. It will only be necessary that, if it is not possible to reach an amicable agreement with the corresponding entity, you have to go to the court closest to your home to make a power of attorney in favor of a solicitor. It is a very quick process and is free. We will explain it to you in more detail when the time comes.

Should I continue paying the fees once the claim has been initiated?

If with the payments made to date you have already paid more than what was lent to you, you can stop paying the installments to live more comfortably, as long as we expressly indicate the convenience of this.

If with the payments made to date you have not paid more than what was lent to you, it is advisable to continue paying your installments. Otherwise, once the nullity of the contract is obtained, we will be able to cancel a large part of the debt (that corresponding to interest), but you would have to pay in a single payment the difference between what you received and what you paid with your installments.

In any case, we will be at your disposal to advise you based on the specific case and your personal circumstances on whether or not to continue paying.

In what period is the claim resolved?

We are managing to reach agreements with some entities, in which case the matter can be resolved in 15 days. With entities that do not want to negotiate, it is necessary to file a lawsuit, so the matter can be resolved within 3 months from the filing of the lawsuit or can last up to a year.

We do not promise miraculous and immediate solutions because the deadlines do not depend on us, but on the entities and the court. We will work to make the deadlines as short as possible.