Did you know that 96% of Swiss franc borrowers win in court? Let’s check, what are your chances of winning?
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In the years 2005-2010, banks were very willing to grant Swiss franc loans. A large group of Swiss franc borrowers are people who were convinced by bank employees to take advantage of the offer to conclude a Swiss franc loan agreement. Some of my clients openly admit that they could not count on a loan in PLN because they did not have creditworthiness in PLN. Some, in turn, were convinced that the Swiss franc would always be at a low level and there was nothing to worry about. Few Swiss franc borrowers were aware of how Swiss franc and other currency loans actually work and who really bears the risk when taking out such a loan. You know it?
Do you need someone who will explain all the complexities to you and explain what you can gain and what the risks are in a dispute with a bank over a Swiss franc loan? Is a Swiss franc office what you are looking for? Please read the information below and if you have additional questions, please contact me by phone. Are you from Gdynia, Gdańsk or the Pomeranian Voivodeship? Let’s meet at my office: Gdynia, ul. Śląska 53B/B507. I will explain everything calmly.
Most loan agreements indexed to CHF or denominated to CHF concluded in 2004-2010 were not legal. Virtually every Swiss franc loan agreement that clients contacted me about included provisions that:
1. They cause the contract to be invalid under the law and the borrower (consumer) may bring an action to court to declare such a contract invalid.
2. They are prohibited (abusive) provisions, i.e. those that violate the rights and obligations of borrowers (consumers) in a manner contrary to good practices, grossly violating their interests.
Prepare your loan agreement and contact us, we will tell you what information and data we will need from you.
We will analyze your loan agreement free of charge and present possible solutions in your case.
We will prepare a request for payment to the bank and prepare a lawsuit against the bank. We will represent you in court at every stage of the proceedings. After completing the proceedings, we will help you delete the mortgage securing the bank’s repayment.
Swiss franc cases won
Mrs. Katarzyna concluded a Swiss franc loan agreement in 2007. The loan amounted to PLN 211,000 for 360 months. In the period from December 27, 2007 to May 17, 2023, she repaid the amount of PLN 236,746.78 (equivalent to CHF 64,906.78).
This means that you are currently overpaying the loan and everything above the amount of the loan granted must be repaid, i.e. PLN 15,000. Moreover, the schedule shows that your current loan balance is CHF 51,532, i.e. according to today’s exchange rate, approximately PLN 235,000, practically twice as much as you borrowed. In general, the sum of benefits, i.e. what we have to win in your case, is approximately PLN 250,000
“Annulment of the loan agreement” or, to put it correctly: “declaring the agreement invalid” is currently the most advantageous solution for borrowers. The effect of a decision on the invalidity of a contract is that:
1. The contract is treated as not concluded, which means that the borrower’s previous payments to the bank for the repayment of loan installments can be treated as an undue benefit.
2. As a result, the bank should return all previous payments to the borrower, and the borrower should take into account the need to return to the bank the loan amount that the bank made available to him. The effect of this is that the borrower returns to the bank only the capital he received from it. Without interest.
3. As a result of the declaration of invalidity of the agreement, the borrower may delete the mortgage (if it secured the Swiss franc loan agreement).
“Defranking” is only a colloquial term for a situation in which the court hearing the case, at the request of the borrower, determines that individual provisions of the Swiss franc loan agreement are prohibited. Consequently, these provisions are not binding on the borrower, and the parties may continue to perform the contract, provided that abusive (illegal) provisions are treated as deleted. Therefore, the loan agreement is treated as still in force, provided that it is a loan in Polish currency with interest most often in the form of LIBOR + margin. The borrower may, of course, demand (in the same process) the repayment of overpayments that he made based on prohibited contractual provisions for 10 years back.
Prohibited provisions include, for example:
when in the contract the bank has the right to unilaterally determine the installment conversion rate based on the bank’s exchange rate table. Such a provision not only violates the rights and obligations of the borrower-consumer in a manner contrary to good practices and grossly violates their interests, but is also inconsistent with the principle of freedom of contract. A contract in which one of the parties independently determines the performance of the other party cannot be considered valid,
in agreements which indicate Swiss francs as the loan currency, and the borrower was provided with an amount in Polish zlotys and he was also obliged to return the amount in Polish zlotys. According to case law, such an agreement does not meet the conditions of Article 69 of the Banking Law.
These are just some of the arguments that can be used in a loan agreement. Depending on the content of the legal relationship between the borrower (consumer) and the bank, other arguments may also be invoked leading to the conclusion that the contract is invalid and/or contains prohibited provisions.
Below is a list of examples of abusive clauses that we have dealt with so far when acting as the so-called franc office. The list is for example only and is not, of course, exhaustive.
I am publishing the list below for several reasons. First of all, I believe that, like this article, it will help many people locate such provisions in their contract themselves and understand/visualize the problem of Swiss franc loans. Note – the fact that you will find the following clauses in your contract with the bank does not guarantee 100% certainty that you should file a lawsuit against the bank. I still recommend contacting a lawyer to examine the entire contract and all circumstances related to its conclusion.
Regulations of the mortgage loan granted by Polbank EFG:
“In the case of a loan denominated in a foreign currency, the loan amount paid in PLN will be determined by converting into PLN the amount expressed in the currency in which the loan is denominated, according to the purchase rate of this currency, in accordance with the Exchange Rate Table applicable at the Bank on the date of disbursement of funds. , at the time of making exchange rate conversions. In the case of a loan denominated in a foreign currency, the risk related to changes in the exchange rate is borne by the borrower, taking into account (…)”
“In the case of a loan denominated in a foreign currency: 1) the loan repayment schedule is expressed in the currency in which the loan is denominated, 2) the repayment is made in PLN, in the equivalent of the amounts expressed in the foreign currency, 3) for the conversion of the amount of principal and interest installments of the repaid loan, the selling rate of a given currency is used according to the exchange rate table on the repayment date.
„(…) W przypadku wypłaty w złotych lub innej walucie niż określona w pkt 2 Tabeli Bank zastosuje kurs kupna CHF opublikowany w „Tabeli kursów dla kredytów mieszkaniowych i konsolidacyjnych w walutach obcych Deutsche Bank PBC S.A.”, obowiązujący w Banku w dniu wypłaty kwoty Kredytu lub jego transzy.”
“Spłata kredytu następować będzie poprzez obciążanie na rzecz Banku Rachunku Bankowego Kredytobiorcy kwotą w złotych stanowiącą równowartość bieżącej raty w CHF zadłużenia przeterminowanego i innych należności banku w CHF obliczanych przy zastosowaniu kursu sprzedaży CHF opublikowanego w Tabeli kursów dla kredytów mieszkaniowych i konsolidacyjnych w walutach obcych Deutche Bank PBC S.A. obowiązującego w Banku na dwa dni robocze przed terminem każdej spłaty kwoty kredytu.”
Do you have a Swiss franc loan and are wondering what to do with it? Are you wondering which Swiss franc law firm will be able to help you and, above all, slowly and calmly explain to you:
If you are from the Tricity – Gdynia, Gdańsk, Sopot, I invite you to a meeting at the law firm’s office in Gdynia or for a telephone conversation/teleconference, where, after reading and analyzing the contract, I will be able to answer all the above questions and advise you what to do.
Where to start? All you need to do is send a scan of the Swiss franc loan or other currency loan agreement along with any annexes you have signed to the law firm’s e-mail address: firstname.lastname@example.org. This is all you need to be able to get precise answers to each of the questions asked above.
Yes. This is one of the possibilities that the law firm discusses with the client during the meeting. More on this topic in the blog post regarding the suspension of Swiss franc loan repayment.
Yes. However, it must be taken into account that this type of dispute will be based on a different strategy. It will not be possible to “de-frank” the contract due to the fact that this type of solution applies only to consumer loans. However, it will be possible to request that the contract be invalidated.
Yes. However, we must take into account the fact that the determination of invalidity/de-franking will only apply to the annex containing prohibited provisions/invalid provisions.
Gdynia / Gdańsk is my city and I would not like to go to Warsaw for trials… Do I have to sue the bank based on its registered office? Can I sue a bank based on my place of residence?
Yes, full repayment of the loan does not constitute an obstacle to demanding reimbursement of amounts paid in excess of the paid capital.
No, concluding an annex in connection with the so-called the Anti-Spread Act has no significance for determining that the contract is invalid. The moment of concluding this contract is important.
The moment of concluding the contract is important. If the apartment was purchased for residential purposes and not for business purposes, it does not matter.