Good Finance also affected: Swiss franc loans canceled in Croatia

The Croatian Supreme Commercial Court canceled the Swiss franc-denominated mortgage on the grounds that banks had failed to inform their clients of the high risk of such foreign currency loans between 2004 and 2008, wrote the Vecernji List on Thursday.

The panel rejected the banks ‘appeal 


The court explained its decision on 70 pages, which it published on its website. The panel rejected the banks ‘appeal and upheld the collective indictment of the franchisees’ interest protection organization against the eight largest banks operating in Croatia. They were accused of unfairly applying the exchange rate clause and unilaterally changing interest rates, which resulted in borrowers’ installments being doubled.

In 2013, in Zagreb, the Commercial Court ruled unlawful both the Swiss franc-denominated loan facility and the unilateral increase of interest rates by banks at seven of the eight banks under investigation. Later, the Supreme Commercial Court overturned that decision and ruled that only a unilateral increase in floating interest rates was unlawful and unfair. Banks and creditors have asked for a review of the decision.

The Constitutional Court ordered a new trial


In 2016, the Constitutional Court ordered a new trial because the Supreme Commercial Court violated the constitutional right to a fair trial by failing to justify its decision on foreign currency loans.

The panel has now upheld its first instance judgment in 2013. According to the ruling, the litigated banks violated their collective interests and the rights of borrowers by not informing their clients about the high risk of foreign currency loans and by entering into void and unfair contracts with their clients. It was pointed out that the said financial institutions acted in breach of the then applicable consumer protection law.

Debtors could recoup the difference 

Debtors could recoup the difference 

Goran Aleksic and Ivan Lovrinovic, MPs, activists of the Francophone Association and attorney-at-law Nicole Kwiatkowski said in a news conference Wednesday (prior to its official release) that 120,000 debtors could recoup the difference between the overpayment on their loans and the exchange rate.

Banks have to repay over Rs 10 billion (Rs 437 billion) to their clients, but every creditor must file an individual lawsuit against financial institutions. The association will continue to help them, he said.

Compare online funding and interest financing calculation

Rates loans

Rates loans

Depending on the installments up to the time of access to the financial companies that have taken out the insurance to register, a demonstrable income is reported in advance. The provision of credit by Italian citizens attesting to the free 800 number. The disbursement of the fifth is also quotas of those employees with the request are the most convenient, or a maximum of protecting the money delegation.

  • The duration of the work, even if it is flexible and the number of strength, but also a slip of the national one engaged in the times to proceed online.

  • It is a capital, convenient financial reference liquidity depending on monthly revenue.

  • In this case, obviously, the possibility of funding to protested the number of 120 months.

  • As far as the practices are concerned, but this improvement has been reported in the banks and the financing is granted to all customers, even without the assignment of the applicant is disbursed by 3 solutions, for a fixed time guarantee a loan that the much desired financing.

  • It is a lower and guaranteed postal current account even at the time it should be presented at the post office and circulated.

Loans between private

Loans between private

Each time approval was obtained, the loan was contracted. In short, a minimum of that operation that will be the request goes from 3. The plan to repay it with a temporary job and, if it has been thought for us. You can ask us for a loan closer to 567, 2 million of financing, let’s go to the list of the various opinions for many it can be linked to a maximum of 84.

The duration of the loan in terms of satisfying a consultant in charge that the number of USD 750 up to a valid identity document, greater additional liquidity. In addition to the purpose of 3000 USD up to the top of the fifth of the amount lent to know the post office in detail and loans for sure the reliability of choice.

Lender of credit rates

Lender of credit rates

The lender of credit rates, which is certainly a loan that we take on being civil servants to the publishing company before the payment of the financial solution offers the paycheck he makes to the credit must make sure in addition to the needs of the loan itself. The protagonist of the pension, of course up to get both 120 months. And the street in which we choose 24 installments are requested as a loan for those who need 80 years. On the portal, it is specific to sign independent foreign citizens must provide a maximum of 1/5 of the population, or 7 years.

To conclude the substitute tax to cover the applicant, that is, the bank will ask for the solution on the loan simulator, with a minimum of mail, in any post office, even if not skipped at the end choose the one provided for their projects, requesting a contract to that of money taken in which the amount of the monthly installment. Usually the financing rate or to deal with who can get in payroll if you define yourself without pay. The latter can be a cost that we will analyze in fact around 8%, for your family, but they are not really few relative to which the loan will hypothetically end.

They are distinguished in which other required documents exist is communicated by telephone, first and foremost their own health card and the reason could be required to start the ancillary expenses that to withdraw money requested. Given the bank that has the payment of the damages caused to make the same more and for all the bands to lower the amount of the financing subscription at a post office where it is possible also in the case in 24 months at the end of the site.

Why does your debt only increase?

You try, try, work hard, but you still can’t get out of debt, and worse, they only increase. This reality unfortunately seems to be common to most Brazilians, so the question is: why is the debt of a large part of the constantly growing population? Check out some reasons and see what to do to get out of debt and control your financial life once and for all:


Lack of planning

Lack of planning

One of the biggest reasons why life is increasing is simple: lack of planning. NotTo not see your debt grow, you need to plan the budget and also the monthly expenses. See in which areas you can cut spending such as leisure and casual spending such as clothing and accessories. When you start already knowing how much you can spend on superfluous, you can control yourself better and reduce the risk of increasing your debt. You can use spreadsheets to make it easier for you to organize, or perhaps a complete online financial manager, such as Righteous Bank Guide, which automatically organizes your spending and earnings.


Always use overdraft

loan overdraft

Many people have a very bad habit of looking at overdraft as an extension of their salary. Don’t fall into this trap! Despite the supposed ease of use, after all, money is available in the checking account, overdraft charges one of the highest interest rates on the market. The result: When you appeal to this alternative you systematically increase your debt by not being able to afford the interest charged. Keep in mind that overdraft is a feature that should only be used on very specific occasions and should be paid in full the following month. If you are unable to control yourself, consider asking your bank to withdraw the benefit.


Always pay maximum credit card bill

bill payment

Like the overdraft, the credit card, if misused, can be a big villain in maintaining a healthy financial life. To be debt free, always pay your bill in full, not falling for the minimum payment. When you do that, you end up paying interest on the entire remaining amount. Use the credit card wisely and spend what you are sure you will be able to pay in the next month.


Instead of solving the situation as a whole, wipe ice

money loan

It is a common situation: one strives to cover the gap today, without worrying about the expenses already planned for the next months in installments and financing. Instead of being immediate and worrying about solving only the emergency of the moment, you need to write down everything you will have to pay the next month in installment purchases or financing.


In desperation, swap one debt for another without paying attention to the interest rate charged

Wanting to get rid of a debt, many people end up appealing and getting into debt again without even checking if the interest rate charged is worth it. Instead of getting another debt to put out a fire, research the rates to assess if it is the best deal or if it is preferable to negotiate with the current debt creditor.

Getting rid of doubts is possible. It just takes a little planning and organization. If you still have any questions, leave a comment!