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F. Javier Arias Varona
Recent Activity
This post will be my last one, and I would like to start it thanking Bob and the rest of the Credit Slips team for inviting me again to guest blog. I felt flattered and excited to share my experiences... Continue reading
Posted Mar 28, 2014 at Credit Slips
As I mentioned in my previous post, in the final two posts in my stint as guest blogger detailing the latest amendment of the Spanish Insolvency Law, I’ll take a break from discussing personal insolvency to focus on another current... Continue reading
Posted Mar 27, 2014 at Credit Slips
In my first post I advanced some basic ideas on the situation of Spanish mortgage debtors. The Spanish situation following the housing crisis may be familiar to readers because it shares many of the same characteristics of problems in European... Continue reading
Posted Mar 16, 2014 at Credit Slips
In this post I will explain the extent of the discharge given to insolvent individuals under the new Spanish insolvency law. Different problems arise from the way it has been introduced, ranging from its extent to the differences depending on... Continue reading
Posted Mar 2, 2014 at Credit Slips
My previous post announced my intention to focus on the new Spanish Insolvency Law’s differences between individual debtors with or without business activities. As I mentioned, the new model clearly differentiates between these two categories of debtors in terms of... Continue reading
Posted Feb 22, 2014 at Credit Slips
The recent World Bank Report on the Treatment of the Insolvency of Natural Persons highlighted in its first pages (13 and ff.) the alternatives regarding which debtors to be include in this special regime. Although the solutions to this question... Continue reading
Posted Feb 16, 2014 at Credit Slips
First of all, I would like to thank the Credit Slips team and, in particular, Bob, for hosting me here again. I guess that after six years, memory is weak, and it is easier to believe that I could have... Continue reading
Posted Feb 12, 2014 at Credit Slips
I wonder how these wide policy of bailouts stretching from banks to car manufacturers will change the basis of the State Aid, at least in the EU where, as you know, the Comission has been very severe. It seems a less strict time is about to arrive, even if the rules are still the same. Might this be one of the key questions regarding bailouts (state money aids, we should not forget)?
Toggle Commented Jan 22, 2009 on A Class on Bailouts at Credit Slips
What Jason pointed out is right, but I'd like to add a comment. The way France makes the calculation seems a bit different to what Bob wrote, I wonder whether the final result would be the same or not, although the limit in France seems to be lower. On the other hand, does the limited interest rates include costs, charges and so, as the French law? And, what would you think about the intervention of a somehow public institution in the process, as the French law foresees, if I am not wrong? Article L313-3 Any contractual loan granted at an annual percentage rate which, at the time of its granting, is more than one third higher than the average percentage rate applied by the credit institutions during the previous quarter for loans of the same type presenting a similar risk factor, as defined by the administrative authority after consulting the Conseil national du crédit, constitutes a usurious loan. Full text here: Another possibility is to use flexible margins using a general prohibition clause for usury loans, letting the courts decide on every case, as we do in Spain (if self citing is allowed here, let me link here to a previous post: Javier
Great post, Bob
Toggle Commented Apr 26, 2008 on Abe Simpson Gets His Wish? at Credit Slips
I have no data to share eihter, but I'd lke to point out that me and the people around me spend more with credit card. From my point of view it is true what Bob said: you feel much more the money you are spending when using cash. So in mid-priced items (let's think in a PS2 game or a nice shirt), where the "meditation" time (I hope you understand what I mean...) is obviously shorter than in more expensive items, I would buy them with the credit card if I see them when having a walk on the street, but would probably think again with cash, considering that I carry enough with me at that time. Would it be better to think in different terms for basic items (you will not buy more milk), luxury items (you will probably use credit card as the best payment method, your decision is previously made) and a whole bunch of intermediate things where probably the credit card makes it easier to spend and so pushes the sells up? If it were the case, which kind of merchant will have a stronger positive impact of the use of credit card? I should clear that I am thinking in terms of NO revolving (I have seen myself in the words of Chuchundra, actually...)
I have been always impressed with those visuals. I have tried myself something similar for spanish law and never had the patience (probably the skills too) to finish them. It is really hard to do such a very good grahics. Javier
Toggle Commented Sep 14, 2007 on Visualizing Bankruptcy at Credit Slips
Yes John, you are right. The question is whether the inclusion of that reponsible lending, that makes the lender or credit intermediary responsible to check if the consumer will be able to pay back, will have the effect of denying the credit to people that now are able to get and, if they were out of the market, would have to ask for it somewere else, with less protection, as it would probably be given by non professional lenders. Actually, I am not sure what the answer would be... On the other hand, number 15 (deleted in this new Ammended Proposal) is now just after new nr. 19 in the "Whereas" (sorry I cannot find the word to define this part of the Directives), saying: "Consumers should also act with prudence and respect their contractual obligations", which is obvious, but it could be seen as a proof of the change in this question.