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Madrid, February 20
The Court of 1st Instance No. 1 of Badajoz dictates the first ruling in Spain that annuls a revolving credit card thanks to the provision of an expert report. It is proven that the REAL APR applied was 33.97% compared to the 21.99% that was included in the contract
The Court of 1st Instance No. 1 of Badajoz has issued a historic ruling canceling a Carrefour Pass card due to the revelation of a real APR of 33.97%, compared to the 21.99% indicated in the contract. This decision, apparently common in the context of revolving credit cards, takes on special relevance as it is the first in Spain where it is demonstrated through an expert report that the actual APR exceeds that established in the contract. This ruling arises in the context of a jurisprudential change of the Supreme Court in February 2023, which redefined the parameters to consider a usurious contract, increasing by 6 points over the average rate published by the Bank of Spain. Don Recoverer®, a leading company in banking claims, together with its expert expert Mr. Jesús Blanco, were pioneers in unraveling the toxicity of revolving cards. The court ruling highlights the complexity and deception inherent in these financial products. The Supreme Court ruling not only redefined the usury limit, but also unleashed a series of disconcerting consequences for consumers. Many contracts that could previously have been considered usurious would no longer be so, leaving millions of consumers unprotected against abusive practices by financial entities. However, Don recuperador® took advantage of this situation to develop an innovative strategy, focused on the detailed analysis of the contractual clauses, especially in the calculation of remuneration interest. Through meticulous expert reports, they managed to demonstrate that the formulas used in the revolving card contracts did not reflect the true cost of financing for the consumer. The specific case of the Carrefour Pass card showed how an apparently low APR in the contract of 21.99 % translated into a significantly higher real APR, reaching 33.97%. This finding, supported by an irrefutable expert report, was crucial for the court to declare the contract usurious. Don recuperador® has been working on this strategy for almost a year, filing thousands of claims throughout Spain with solid expert reports. This initiative represents a new avenue to combat the toxicity of revolving cards and provides hope to affected consumers.
Contact Contact name: Artemio Contact description: CEO Don recuperador ® Contact phone: 654354317
