Solcan Ingrid Bianca , bank litigation lawyer, provides assistance and legal representation in lawsuits filed against banking institutions (banks), in which litigation may require:

• freezing (stabilizing) the exchange rate from credit agreements and obtaining refunding of the amounts collected additionally by the bank
• cobtaining annulment of the abusive clauses and restitution of the granting commission, the management commission, the administration commission, the risk commission, the transformation commission, and so on., comision de administrare, comisionului de risc, comisionului de transformare, s.a.
• obtaining repayment of interest requested in addition to the formula: fixed bank margin + LIBOR / EURIBOR index

Solcan Ingrid Bianca Attorney , with confirmed experience in the area of banking law, also ensures:

• Legal assistance while renegotiating the clauses in credit agreements
• Legal assistance and representation in the enforcement procedure against the bank
• Legal assistance and representation in the enforcement procedure against debt collection companies
• Legal assistance and representation in the appeal against enforcement

At the same time, according to Law 77/2016, the transfer in lieu of payment applies to individuals who have a mortgage loan and cannot continue to pay the loan instalments or are facing foreclosure.

In order to close the loan by transfer in lieu of payment, the following conditions must be met cumulatively:

• the creditor must be a bank, or an IFN (non-banking financial institution), or a transferee of the receivable (e.g. a debt collection company that has taken over the debt);
• the debtor must be a natural person
• the borrowed amount must not exceed EUR 250,000
• the purpose of the loan must be the acquisition, construction, extension, modernization, arrangement or rehabilitation of a residential building;
• the natural person/ consumer has not been convicted by a final decision for offenses related to the credit for which the law of giving is requested
• the condition of hardship is met

 

Law 52/2020 mentions that hardship represents:

• a) during the execution of the credit agreement, the exchange rate, applicable for the purchase of the credit currency, registered on the date of transfer in lieu of payment notification an increase of over 52.6% compared to the date of concluding the credit agreement. In order to calculate the percentage of 52.6%, the exchange rate published by the National Bank of Romania on the date of sending the payment notification, as well as the exchange rate published by the National Bank of Romania on the date of concluding the credit agreement shall be taken into account;
• b) during the execution of the credit agreement, the monthly payment obligation registered an increase exceeding 50% as a result of the increase of the variable interest rate.

In order to apply the provisions of this law, it is necessary to maintain the value thresholds provided in letter a) and b) in the last 6 months prior to the transmission of the payment notification. 

So, if the bank rate has increased by more than 50% compared to the date when the contract was signed or the exchange rate has increased by more than 52.6% compared to the date of conclusion of the contract, you can request a rebalancing of the contract. In such cases, you can call on Ingrid Bianca Solcan - Attorney at law - for the transfer in lieu of payment procedure.

To get in touch with Solcan Ingrid Bianca Law Firm, use the Whatsapp and the Facebook Messenger buttons on the left and right of the page for Online Legal Advice Online, or send your question by e-mail using the contact form below to sent an e-mail directly at ingridsolcan@gmail.com and we will get back to you as soon as possible.

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