Swap scandal


May 7

I wonder if the Costa Blanca News and its readership could possibly help me.
I was one of the ‘victims’ with regards to the swap scandal whereby the banks asked clients to sign a type of insurance policy with regards to interest rates going up or down.
I did this and the outcome was me ending up owing the bank in excess of €20,000 and I had to take out a personal loan to pay the bank back.
At no stage did we receive any paperwork from the bank, either about the swap or the personal loan.
Thousands of people were caught up in this and have lost homes, etc because of it.
The reason I’m contacting your excellent newspaper is because I’m also taking my bank, which is Banco Popular, to court to have this money refunded and for compensation.
One of the main issues is that the bank made us pay €15,000 to have the swap contract stopped. They are now disputing this amount.
But they made us sign a loan for this, PLUS the money owed for the swap. So where did the money go?
We are still having to pay each month for this illegal swap and will for another seven years!
Can you please ask your readers if anyone else has been in a similar situation with this outcome, particularly about the €15,000 to cancel it? And could they contact me asap.

Many thanks
Alan Gilchrist
My email address is

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