You can sue the bank and get all your money back with the compound interest law that almost no one knows about

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The compound interest law allows users to sue the bank and get their money back. Everyone is getting informed.

In periods of high inflation like the ones we are facing in recent years, citizens try to do anything to accumulate any amount of money. Nonetheless, many, after having learned about the law on compound interest, have decided to sue their bank in order to get back a truly important amount of money for the domestic economy.

Banks, it is possible to get your money back by suing them (Giustiziagiusta.info)

In this regard, anyone who is not aware of this law is trying to inform themselves on the web to find out how to best use it. Precisely for this reason, we try to reveal some of the main details, so as to know how to behave if you decide to take legal action.

Logically speaking, it is right to start from the main topic of this article, i.e anatocism, in order to understand what it is and why it can be challenged during a lawsuit. We are talking about the interest rates on a mortgage which are calculated on the interest already accrued on the sum owed. Today’s law allows the bank to make use of compound interest, but only on late payment interest, only if written in the contract, if it occurs on an annual basis and if it concerns passive and active interest.

How to sue a bank based on compound interest

There are several account holders who have decided to take legal action against their banks in order to assert their rights. Often, in fact, there are anomalies that can allow users to sue their branch.

Banks, compound interest can be a reason for lawsuits (Giustiziagiusta.info)

Basically, on the topic of compound interest it is important know what happens during the prescription phase lawsuits, which were undertaken by some account holders. In this way, the latter attempt to get back the sums that were unduly charged to them and in the form of compound interest.

In this regard, it is necessary to know the difference between nullity of compound interests, which is considered imprescriptible, and action for recovery of undue payments, i.e. one subject to a 10-year statute of limitations. According to the Court of Cassation, the limitation period for starting the recovery action, however, starts from the moment the current account is closed (i.e. when the payments made have restored the funding).