The Provincial Court of Barcelona has just condemned Wizink to return all the interests charged by a postproid payment card or ‘Revolving’, a new punishment for the commercialization of these products that financial entities resist eliminating from their portfolios.
In a sentence dated February 6, instances of the Sanahuja & Miranda, The hearing cancels the contract and condemns the entity to return all interests subscribers from the hiring of the credit card.
Wizink did not deliver a copy from the contract to the client At the time of hiring, and as the sentence recalls, “it is the defendant entity that must prove that the contractual conditions exceed the controls”, in addition to highlighting the lack of transparency in the application of the remuneration interests.
The First and second instance sentences waterfallas well as the doctrine of the Supreme Court or the Court of Justice of the European Union (TJUE) has had little impact on the policy of financial entities -and also of other establishments such as service stations or shopping center -that maintain these cards in their portfolio of services.
It is a card mode in which The amount granted can be available without having to pay the totality within a certain periodbut the credit is reunited by postponed by paying periodic quotas.
Its amount can be a fixed amount or a percentageusually very low, so that the period of permanence lengthens and increases interests, since very little capital is amortized in each quota; In this way, the user meets a practically perpetual debt.
According to the calculations of the Navas & Cusí, In Spain, which has the most faces “revolving” cards in Europe, there are about 15 million cards of this typeand the jurisprudence of the Supreme Court can have an impact of about 12,000 million euros on financial entities.
Consumer associations have shaved the supreme their warmth to these products, since the high court considers that Although a clause is abusive does not necessarily imply lack of transparencywhich in practice paves the claim but does not eliminate the need to go to court.
The Bank of Spain and Consumption set limits
The Claiming Claims Platform. The debt debt amounts to average at about 2,000 eurosalthough in some cases It rises to 20,000.
The offensive against these products is not limited to the judicial field, since on December 31 a governance and transparency guide of “revolving” credits of the Bank of Spain, to which the Project of Administrators and Credit Buyers approved by the Council of Ministers.
The bill, which has to go through the Congress of Deputies, also modifies the consumer credit law, within which it limits the interest interests to be charged in Cases of non -part of the consumer to a maximum of the sum of the ordinary interest plus three percentage points.
All this has failed to reduce the judicial collapse, which has led the General Court of Madrid to offer the General Directorate of Consumption and the Bank of Spain a Bank of Spain List of financial entities with “systematic convictions” In this area, on what has been issued since October 2023, almost 3,400 sentences.
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