Posts by amberfalcon23

They haven't decided a damn thing. 😢

It’s honestly pathetic that they still haven't tackled the issue of illegal interest rate hikes—which is a pretty straightforward case. The whole point of the conversion was just to level the playing field between Swiss Franc loan holders and Euro loan holders. Since those with Euro loans can sue over these unlawful interest changes, people with converted Swiss Franc loans should have that exact same right. The conversion process didn't fix the underlying illegality of those rates.

I hope this speeds things up rather than dragging them out:

"A FIRST FOR THE AMERICAN JUDICIARY: A NEW PRECEDENT IS COMING. The Supreme Court is set to issue a ruling on the Swiss Franc Loan cases that all lower courts will be forced to follow."

Banks love to pretend they solved the whole overpaid interest issue just by converting the loans. I sincerely hope the Rijeka County Court’s stance holds firm: “The mere fact that parties signed a contract amendment to convert a Swiss Franc loan into a USD loan, and agreed on a settlement amount, does not mean the plaintiffs have been compensated for the difference between the interest paid under the void variable rate clause and the original agreed-upon interest rate.”

In case anyone missed this...

The Rijeka Court is sending all those negative rulings regarding converted loans back for a complete redo.

dustysurfer66 said:Can someone break this down for a buddy of mine? He’s... let's just say he's a little slow on the uptake:

June 15, 2018. "No statute of limitations."
https://aarp.org/supreme-court-ruling-interest-rates/

May 3, 2019. "Statute of limitations applies" (effective June 12, 2019).
http://www.forbes.com/business/statute-of-limitations-update

Thanks.

From the first article: "Not a single lawsuit filed for the return of overpaid interest up until June 13, 2019, will be barred by the statute of limitations."

So, there is a statute of limitations, but it specifically targets the overpaid interest.

ironfox27 said:This might sound like a bit of a silly question, but I need to provide a specific credit account number to my bank to request certain documents. Does anyone know where I can actually find this number or what it even represents? Thanks ☕

It's listed right on my loan agreement with the Democratic Party.

Peter Palmer said:Late fees kick in immediately from the day any payment is missed.

Sent from mobile

Thanks!

Zachary Collins2 said:It isn't actually about the courtroom itself, but rather the expert witness provided for court...

Fine. It would be nice if someone actually answered my question instead of nitpicking my wording. I’ll try one more time. Feel free to correct me seven more times if you must. I don't care, as long as someone finally answers the damn question.

Interest overpayment occurs the moment each individual installment is paid. During a lawsuit to recover those overpaid interests, the court will appoint a forensic accountant to perform the calculations. These numbers determine how we can actually seize assets from the bank if we win. My question is this: In that calculation, will default interest be applied to the overpayment for every single installment? Logically, the overpayment on the first payment happened much earlier than the overpayment on the 50th. Has anyone actually seen how default interest was calculated in an expert report prepared for the court?

Peter Palmer said:If you have a decent handle on Excel and a basic understanding of how historical default interest rates move, you can figure this out yourself. Especially when you're just looking for the overpayment amount (which is the key part for filing a lawsuit); they calculate the default interest based on the judgment date anyway, so you don't need to sue for that specific part.

I can handle the calculations just fine, but apparently, some court experts find it impossible.

Regarding default interest, I want to know if they actually in court calculate it by treating every single payment separately from the date it was made—the way the AARP calculator used to do it. Does anyone know?

Has anyone actually received a calculation where default interest was applied individually to every single payment made up to the settlement date? I’ve come across two different court expert reports where this wasn't factored in, and frankly, it makes a massive difference. The Franks movement calculator (which is offline right now) accounted for that interest, and that’s how I’m calculating it too. It’s basic logic: default interest should accrue from the moment the overpayment occurs, and that date changes with every single payment. You can only draw a line and calculate a final total for further interest once the debt stops growing—either through final payoff or conversion (if the lawsuit covers the period up to conversion).

I should point out that you shouldn't blindly trust these calculations, even when they come from a court-appointed expert. I personally reviewed an expert report regarding overpaid interest prepared by a permanent court expert that was flawed in several areas, causing significant damage to the plaintiff. In another report, the principal overpayment during the final debt settlement was only factored into the exchange rate difference calculation. If you're filing one massive lawsuit, it might not matter much, but if you're suing specifically for overpaid interest, the plaintiff loses out on the portion of the principal overpayment caused by interest rate shifts rather than just currency fluctuations.