The Issue of Swiss Franc Mortgages in Poland and Choosing a Legal Firm

In the early 2000s, many Polish citizens decided to take out mortgages denominated in Swiss francs (CHF) due to lower interest rates compared to Polish zloty (PLN) mortgages. However, in 2015, the Swiss National Bank unexpectedly removed the CHF peg to the euro, causing the franc to appreciate rapidly against the zloty. As a result, the monthly mortgage payments for those with CHF-denominated loans increased significantly, leading to a financial burden for many borrowers.

The Polish government has introduced several measures to alleviate the situation, such as converting CHF loans to PLN at a fixed exchange rate or limiting the interest rate spread. However, these measures have not been sufficient to fully address the issue, and many borrowers have turned to legal action to seek compensation for the losses incurred.

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Choosing a legal firm to handle such cases can be a challenging task. There are numerous law firms in Poland offering services related to CHF loans, and it can be difficult to determine which one is the best fit. Here are some factors to consider when choosing a legal firm for CHF loan cases:

  1. Experience and expertise: It is crucial to choose a legal firm with experience in handling CHF loan cases. The legal team should have a deep understanding of the issue and the relevant laws and regulations. They should also have a track record of success in similar cases.
  2. Communication: Effective communication is essential when working with a legal firm. The firm should be responsive to client inquiries and provide regular updates on the status of the case.
  3. Fees: Legal fees can vary significantly between firms. It is important to clarify the fee structure upfront and ensure that there are no hidden costs.
  4. Reputation: A legal firm’s reputation is a crucial factor in choosing a firm. Research the firm’s reputation online, read reviews from previous clients, and ask for referrals from friends or colleagues.
  5. Location: Choosing a legal firm in close proximity to your location can be advantageous, as it can make communication and meetings more convenient.

In summary, the issue of CHF mortgages in Poland has caused financial hardship for many borrowers, and legal action has become a common recourse. When choosing a legal firm to handle CHF loan cases, it is essential to consider factors such as experience, communication, fees, reputation, and location. By doing so, borrowers can increase their chances of success in seeking compensation for the losses incurred.

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