Fast loans – more and more people want them. According to the latest data as of 08.09.2024, published by BNT , more and more Bulgarian citizens are using fast loans. The total amount used in the form of fast loans reaches 4.1 billion leva. This is 19% more than last year. Most of you will probably ask yourself what period this is for? The period is for the first six months of 2024. I don’t know about you, but at least I was impressed and very surprised by this interest in this type of lending.
Quick loans – why?
According to the study, quick loans are used for vacations and the purchase of equipment, other goods, and services. Unlike previous periods, when it was used to finance current needs “until salary”. The increase in quick lending seems to be in contrast to public sentiment towards this type of financing and quick loan companies. It is known that for citizens, these companies are usurers, robbers, and fraudsters who “rip off the skin” of people and earn huge sums at the expense of the poor.
Important!
I have written a lot on the subject, and in my opinion, the activity of fast lending should not be demonized. It is also evident from the statistics that fast lending has its place in social and economic life. People with a bad credit history resort to fast loans. Because of this, banks do not grant them loans and, under the pressure of circumstances, fast loans are their only option for financing.
Beware – illegal clauses
However, not everything is allowed to credit companies. They often abuse people’s need for money and include unfair clauses in credit contracts. A number of their fees for reviewing documents, for credit insurance, excessive penalties and others are not allowed by law. Check whether the company is registered in the register of credit institutions .
Seek your rights in court!
If you pay more than you owe, do not hesitate and seek advice from a lawyer. Excessive penalties, interest, fees and other amounts that they ask you for are not allowed. The court cancels them as unfair!
Very important – keep your loan agreements!
*You can read more on the topic on my blog at www.advokatdimitrov.com
**Related topics:
– Quick loans – protection from a lawyer
– Debtor sued a collection company and became its creditor
– Illegal seizure by a private enforcement agent and another convicted collector
– Protection from debt collectors, loans and private enforcement agents
– Fast credit – another convicted company
– Fast loans – how did I convince them to return my money?
– Quick credit – debtors return huge and illegal amounts
– Quick credits and unfair practices
– Quick credit and Usury. When does one become a usurer?
– A loan that has expired due to prescription is deleted from the CCR
– Public sale by a private enforcement agent of a single home due to a quick loan
– Online consumer loan agreement
***This is not exhaustive and reflects the personal opinion of the author as a lawyer in Plovdiv and a lawyer in Sofia.
