To request the nullity of abusive interest a revision of the clauses established in the contract is necessary. If the judge is of the opinion that there is abusive interest or usury in the loan they will be able to cancel the payment of the quantity that exceeds what is legal and request the return of that which has been charged unjustly.
Banks, financial organisations and large commercial organisations offer this kind of delayed payment with interest that can exceed 12% and can even be in excess of 40%. On many credit cards, microloans and quick loans, commission is even covered if payments are defaulted upon. There is a penalisation of more than 20% of the unpaid amount, which means that the interests rate is extremely disproportionate, up to 300%, which is an abuse of the client and can be considered ‘usury’.
A judge in Valladolid used the centenary of the Usury Law to declare the interest rates of a credit card that had an annual commission of 20.9% as usury, cancelling the contract on the basis that the interest was disproportionate, when the client should only repay what they have spent.
The Supreme Court considers the clause of personal loan contracts that fix a delayed payment interest of more than two percentage points more than the interest agreed upon to be the same thing.
The Civil Plenary Session of the Supreme Court has dictated a sentence declaring, unanimously, that in personal loans with no mortgage guarantee, contracted by consumers, the general condition that establishes a delayed payment interest of more than two percentage points in excess of the standard interest. Because of that, in these cases the loan will yield only the agreed interest, completely eliminating the abusive percentage increase of the delayed payment interest.