Spain, April 19, 2023.
Revolving cards are a form of credit that allows the cardholder to make deferred purchases and payments. However, many times the interest that is applied to these is abusive and can generate a large debt for the cardholder. Aliter Abogados explains how to start a claim
In Spain, the Law for the Repression of Usury establishes that interest is considered abusive when it is significantly higher than the normal interest on money at the time the credit is contracted. If you are a user of a card of this type and you are paying abusive interest, you can claim that the money paid in excess be returned. Below, the experts in banking law at Aliter Abogados explain the steps that must be followed to claim said interest abusive: 1. You have to gather all the information. All documentation related to revolving cards (such as contracts, bank statements and receipts already paid) must be collected. In this way you can calculate the interest that has been paid and determine if they are abusive.2. Calculate the interest of the revolving card. With all the documentation you can calculate the abusive interest that has been paid; For this, there are online calculators (revolving card calculator) and it is also advisable to hire the services of an expert in the field such as the lawyers of Aliter Abogados.3. After calculating the interest on the card, you must contact the financial institution and claim the return of the extra money paid. Said claim must explain that the interest that has been paid is abusive, and, therefore, the bank must indemnify. It is best to leave this claim in the hands of expert lawyers in the field who know how to deal with banks (since they will not be willing to return the money to the user and will try to renegotiate the debt, obviously always in their favor).4. If the entity does not respond, or offers unfavorable treatment, it will be necessary to go to court. Rarely will the bank issuing the card accept the claim and therefore the user will have to go to court to claim the return of abusive interest. For this reason, the most correct thing to do is seek advice from a lawyer specialized in banking law, such as the professionals at Aliter Abogados. In conclusion, if you have a revolving card and it is suspected that abusive interest is being paid, it is important to claim the entity so that the money that the user has paid in excess is returned. By following the steps indicated by Aliter Abogados, you can claim abusive interest on revolving cards and recover the corresponding money. It is important to highlight that each case is unique and must be studied individually, so it is advisable to seek the advice of a specialized lawyer such as the lawyers at Aliter Abogados who have extensive experience in this sector.
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