They're banks to clients, not clients to banks, they'll gotta pay interest and compensation.
Today's judgement of the Court of Justice of the European Union (TEU) on franc credits brings crucial solutions to the thousands of consumers who face problems with this form of financing. During the examination of the questions referred for a preliminary ruling by the Polish court to the European Court of Justice in the case registered under the signature of C-520/21, the CEU has established that the consumer has the right to request compensation from the bank in excess of the reimbursement of monthly instalments and the costs of performance of the contract. Moreover, the credit institution has no right to require any compensation from the consumer in excess of the returned capital.
The decision of the TEU is an crucial accomplishment for those with loans indexed to the Swiss franc who have been suffering from the adverse effects of currency fluctuations for a long time. The financial crisis caused by the excessive granting of loans in abroad currency, in the early 2000s caused the Swiss franc to increase importantly compared to the Polish zloty, resulting in an increase in credit instalments for customers. Very many people have taken credit in good religion without realizing the risks associated with this form of financing.
The TEU judgement now places banks in a position where they must be liable for misinformation of consumers about the risks associated with FFTs. Credit institutions will not be able to claim interest or another compensation that exceeds the returned capital. This means that customers who have so far paid more than their capital will be able to claim a refund of the overpayment with interest.
The TEU decision gives consumers certainty that they have the right to compensation, which goes beyond a simple return on capital, there may be interest, but many of them will most likely be able to show further harm (this is simply a classical civilian matter, and with specified of course we invitation you to us). Many customers have experienced considerable financial difficulties due to the increase in credit payments, and now they will be able to get any compensation for the losses incurred. However, it is worth noting that each case will be dealt with individually, taking into account the circumstances of a circumstantial credit agreement.
Today, more than 90% of this kind of franc cases are considered by Polish courts positively. And while we in our Chancellery do not straight conduct strictly franc cases, we will gladly point out to you the law firms that conduct specified proceedings, as well as ourselves in civilian proceedings, we will assist in the investigation of additional compensation from the bank – if that is justified in your case.
Link to the TEU judgment: https://klodzinskikancelaria.pl/tsue-c-520-21/
