The early maturity clause in a personal loan is declared abusive when it does not modulate the severity of the default.
Before seeing when the early maturity clause in a personal loan is abusive, let’s remember some questions:
1.- The early maturity clause allows the creditor (the Bank) to give up the loan when the borrower (client) fails to comply with any of the obligations established in the contract, especially the non-payment of any of the maturities.
2.- When the loan is overdue and resolved by application of the early maturity clause, the Bank may demand the entire amount loaned plus interest.
3.- It must be taken into account that in order to claim the nullity of said clause, the client must be considered a CONSUMER .
4.- Until now, the nullity of the early maturity clause had been alleged in mortgage loans.
5.- The importance of the Judgment issued by the Supreme Court that we are going to comment on is that it deals with the nullity of the early maturity in a personal loan. Subsequently to this, the Supreme Court in the same sense has issued another on June 9, 2020.
The early maturity clause in a personal loan is abusive
Sentence of the Supreme Court (Plenary) of 12.02.2020
Let us summarize the assumption raised only in relation to the early expiration clause:
a) On May 7, 2009, a consumer signed a personal loan agreement with a Bank for an amount of 18,000 euros to be repaid in 12 years (until 2021).
b) When the loan presented an overdraft of 13 installments, the Bank settled the debt in March 2013 and considered it resolved by applying the early maturity clause. The early expiration clause established:
The Bank may give up the loan “due to non-compliance with any of the obligations established in this contract, especially, the non-payment of any of the interest and / or amortization maturities and other expenses that originate the loan . “
c) The Bank claims the entire loan that was missing to pay plus interest, filing a claim for the amount of 18,269 euros.
d) The Court estimates the Bank’s demand.
e) The Provincial Court in the appeal filed by the client, confirms the conviction.
f) The consumer files a cassation appeal before the Supreme Court.