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1500 percent interest! Experts warn against this excessive credit

Auerbach – 1500 percent interest, 8000 euros costs for an obscure residual debt insurance – the consumer advice centers are warning of the rampant usury of credit.

Consumer advisor Heike Teubner (54) warns against usury, especially on the Internet. © David Rötzschke

“Here too, citizens ask how they can get out of such contracts,” says Auerbach consumer advisor Heike Teubner (54).

“Younger people in particular like to look for cheap loans online. Everything looks nice, but the nasties such as eleven percent agency costs lurk in the small print.”

Sometimes traps such as residual debt insurance are ticked in advance. If you don’t pay attention, you have to pay.

Heike Teubner knows that usury loans are currently increasing “because people are sitting more at home in front of their computers”. In addition, money is often scarcer – which is why more Saxons stumbled into the debt trap.

The expert advises: “Anyone who notices usury should react quickly. Internet contracts can easily be revoked for 14 days by registered mail.”

Resourceful cutthroats have meanwhile discovered a new scam: Free credit cards are free, but 100 euros were due for the plastic card …

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