Published: Wednesday 03/15/2023 06:57
Dubious loan providers take advantage of the fact that many people are short of cash because of rising prices – our consumer center in Mülheim warns of this today on World Consumer Day.
© Olaf Ziegler/FUNKE Photo Services
Caution is therefore required, especially with loans that are provided at very short notice. Very high interest rates and fees are often due here. Even loans without Credit Bureau are often dubious. Even overdraft facilities from your own bank quickly become a debt trap, they say. If the overdraft facility is not settled quickly, borrowers will in many cases not be able to get off it. If the expenses are higher than the income, those affected should always seek help from debt counseling, advise consumer advocates.
