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"The word relief is not strong enough. This badagenarian living in the Bouzonville area feels liberated from a heavy weight. That of having to pay the colossal interest linked to a toxic loan denominated in Swiss francs with the Crédit Agricole de Lorraine. Wednesday, the court of cbadation confirmed the judgments of the Court of Appeal of Metz striking this loan of "absolute nullity."
It is the epilogue of a business which poisons the life of a hundred couples Lorraine for about ten years. These individuals, with a rather affluent profile, were seduced by these fashionable loans in the mid-2000s to finance their principal residence, a holiday home or a financial investment. Through consulting companies, Crédit Agricole de Lorraine sold them a dream in the form of loans in Swiss francs repayable in euros.
"I was not put knife in the throat, obviously. But I was told interest rates at 1% instead of 4 or 5%. We had mentioned the problem of parity between the two currencies. But when a high-level banking advisor tells you that you can not doubt the stability of the Swiss franc, you follow him ", continues the 62-year-old who took out his loan in 2012 as part of a capitalization of retirement.
A long, bitter and Homeric fight
Las! The price of the Helvetian currency has gone. In this context of crisis of the euro, bank debt has increased in considerable proportions – 60% for our witness – plunging into the ruin of many individuals. One of them ended his life. "I had two infarcts the year after. I'm not saying it's because of that but it had to contribute. When you are asked to repay € 300,000, it is all the savings of a lifetime that are put at risk. I had to reduce my lifestyle. I was no longer entitled to one euro of overdraft. Once, a levy from a telephone company was even refused. It's weird … "
M e Arnaud Métayer-Mathieu, the lawyer of about 60 borrowers, savored his victory:" It was a long, bitter and homeric fight for which the bank has committed large means and multiplied mbad litigation. It took a lot of courage for my clients to embark on this procedure. This case has undermined their morale for six years. But in the end, the bank will have to bear the expense of the foreign exchange loss related to the appreciation of the Swiss franc against the euro. The obligation for a French borrower to repay its debt in a currency other than the euro is illegal if it is not an international transaction. Borrowers therefore only have to repay the original capital. In the end, they will have benefited from a zero interest loan. But at the cost of several years of trouble …
"When you are asked to repay 300 000 €, it is all the savings of a lifetime that are undermined. "
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