Anyone who took out a credit in the past years, whether for a property, a car or a debt restructuring, has very likely paid a processing fee. Frequently this amounted to several thousand euros, usually one to four percent of the credit amount, which fell due right at the start. For a long time this was considered normal. The Austrian Supreme Court (OGH) has clarified in several proceedings that many of these fees lacked transparency and were therefore unlawful.
Why the fees often lack transparency
The problem lies in the detail. Many banks charged a flat-rate processing fee to cover the general effort. At the same time, the agreement contained further charges for individual steps: costs for the credit check, postage charges, IT fees, transfer charges or valuation fees. When the bank already charges for each individual step, it is no longer apparent what the expensive flat rate is intended to cover. The customer pays twice for the same service. This double charging can be unlawful.
Fees that were calculated purely as a percentage and without an upper limit can also be problematic. With large credits they bore no comprehensible relation to the bank’s actual effort.
Which cost items can be affected
In addition to the actual processing fee, credit agreements often contain further items that the bank typically has to bear itself. These include, among others:
- Deletion receipt and costs of cancelling the lien
- Property valuation and property inspection
- Handling via a trustee
- Costs for postage, printed forms and delivery
- Survey and processing charges
Whether one of these items can be reclaimed depends on the specific agreement and the respective clause.
Up to 30 years retroactively
Unlike many other claims, a long limitation period applies here. Civil law claims can reach back up to 30 years depending on the case constellation. It makes no difference whether the credit is still running or has already been fully repaid. How far your claims extend depends on the individual case.
How the reclaim is financed
The assessment of your credit agreement is free of charge. If it comes to litigation, cooperating lawyers conduct the proceedings at our cost, and no upfront payment for lawyers applies to you. If successful, R. M. Prozessfinanzierung GmbH retains from 35 percent of the amount obtained, and the remaining amount is paid out to you. In addition, statutory interest may accrue, the amount of which depends on the year of the agreement.
You will find a detailed presentation on the page Reclaim credit fees.