Anyone who repaid a personal loan or salary-secured loan early may be entitled to a refund that no one has yet fully explained. This is what the ruling establishes. Lexitor of 2019 by the Court of Justice of the European Union, which recognized consumers' right to obtain a proportional refund of the additional costs paid upon signing the contract, in the event of early termination of the financing.
A simple principle—those who pay in advance must be reimbursed for the unused portion—but one that in Italy, amid conflicting interpretations and resistance from the credit system, has become a legal battleground. This is why the association Codes has decided to relaunch a national assistance and protection campaign to verify the calculations made by credit institutions and help citizens obtain what they are entitled to.
“We are carrying out an initiative on a delicate and complex issue,” he explains Ivano Giacomelli, National Secretary of Codes.
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The most important news concerns the so-called “up front” expenses, that is, those paid in advance and previously excluded from reimbursement: processing fees, bank charges, mandatory insurance, intermediation fees, and other additional charges. These too, according to European case law, must be repaid in proportion.
Consumers who have repaid a loan can ask Codici to verify the accuracy of their calculations and, if any irregularities are discovered, initiate the refund process. The association offers assistance through its contact channels and via the dedicated form on the website. www.codici.org.
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