This means the new rules for credit loans

This means the new rules for credit loans

Especially young people fall into the trap and choose the fast lending. The Consumer Ombudsman has long been aware of the problem and has previously introduced rules for these loan providers, where there was a requirement that there should be 48 hours of reporting time before the loan came into force. These rules are expanding now, as every 8 borrowers are having trouble paying back the money and thus come into financial problems - which applies not only to young people. Here you can briefly gain an insight into what the new rules will mean to you.

The possibility of borrowing shall not be based on statistics

Mortgages, such as SMS loans, are no longer offered to customers based on statistics. Previously, the lenders have assessed their customers based on age, gender and residence, but they must now be assessed on the basis of the individual. Loan providers now have to look at the individual finances of the individual loan applicant, which must be based on their annual accounts and payrolls.

Thus, the security should ensure that the individual borrower does not end up in financial problems where they can not repay their loans in the short term that most borrowers claim.


Take merchandise with care

Although there are new rules for credit loans that would like to ensure that you do not get a loan that you can not repay, it's still a good idea that you carefully consider your choice. Whatever it may be an expensive affair to take a loan when interest rates are often set very high. It is therefore recommended that you basically just consider whether you need to take the fast loan. Avoid taking any impulsive decisions in this area and think an extra time before applying.

If you choose to take the loan, it's definitely a good idea to go for the best credit loan on the market. It may seem obvious, but it may be a jungle to find out in the many possibilities. Compare retail lending at the consumer magazine to be on the safe side before choosing your final loan provider. It can also give you a good overview of which providers you have to choose from.