A woman acquired a card from credit 10 years ago and now she is wrapped in an impressive debt of more than 147 thousand dollars from which she cannot escape, in Vigo, Galicia (Spain).
A Citibank agent visited the woman’s office and offered employees a bank card with no renewal fees to “deal with incidentals and purchases.” “You don’t read the fine print and think: ‘if something unforeseen comes to me, I can pay little by little,'” said the woman, identified simply as SPM,
Over time, that card became one from the Wizing bank, of the ‘revolving’ type (cards that allow you to pay for purchases in installments, but with very high interest rates). The limit he had to spend was 6,000 euros (about $ 6,790) and the monthly fee of 60 euros (about $ 67). But after a while, the woman could no longer pay the fee and lowered it to 18 euros ($ 20).
Accepted loans and ended up with more debt
I got into a ball and I’m bankrupt. I used the card simply to live, to pay for food, clothes
S.P.M.–
“As I had not finished paying, I asked for another loan to cover the previous one, and so I saw that I had never finished paying off the debt that was rising. Now I have a hole worth 130,700 euros ($ 147,000) “, he told The voice of Galicia, how do you collect The Republic.
Her desperation was so great that the woman signed 31 contracts with 16 financial entities that offered her “easy loans” and even assured that they had pre-granted a loan. “And you believe it and you say yes and you think you are going to put things in order,” says the woman.
Has no property to seize
In 2019, when SPM stopped paying banks, debts bombarded it with dozens of phone calls a day. “From eight in the morning to ten at night they called me continuously, and they pressured me. In one day I had 75 calls. They don’t listen to reasons and pressure you to pay, ”he says.
In this case, she could not be seized properties, because she does not have them. “I have neither a car nor an apartment of my own,” he concludes. Of course, he does not lose hope that, with the help of a lawyer, 2022 will become the year of his economic recovery.
AHM
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