The clock is ticking: At the turn of the year, claims for the reimbursement of processing fees for credits from the years 2004-2011 are void. Still there are possibilities to assert the claims.
German banks are waiting for New Year’s Eve: then claims of nearly Milliarden 10 billion will be lost. So much money banks would actually pay back to their customers due to inadmissible processing fees for loans. Who wants to make his claims still must act now swiftly.
Which loans are affected?
The BGH has decided that for all credit agreements concluded in the period from January 1, 2005 to December 31, 2011, the limitation period expires at the turn of the year. Loans taken out in December 2004 are subject to a one-time grace period: If a loan was taken on 29 December 2004, claims for reimbursement must be made by 29 December 2014.
Is it still enough to simply write to the bank?
Due to the very short time until the turn of the year, it should not be enough to ask banks in return for payment of the processing fees. The mere written request does not have an anti-rejuvenation effect. The banks can thus de facto ignore the letters and await the turn of the year.
In the short term, it should no longer be possible to contact the BankMan. If this formally opens a conciliation procedure, the limitation period for the duration of the proceedings is also suspended. However, it would hardly be possible to achieve the opening of such a procedure before the turn of the year. Therefore, swift and determined action is required.
Request a reminder or file a lawsuit
There are only two ways to inhibit regress in the short term: either a writ of remand has to be applied for or a lawsuit filed against the bank. In most cases a reminder should be the more favorable option: Should the bank immediately recognize the claim and thus avoid court proceedings and the associated costs, the claimant must bear the costs for the order for payment. These amount to approx. 32.
Please also read our editorial article Credit Fees: What the BGH judgment really means or let us advise you individually.