In the middle of this month, A, a self-employed man in his twenties, was scammed by paying a high interest rate of 40.4% a year while trying to receive the COVID-19 policy fund. In the text message on the phone, the phrase’Kookmin’ was written along with the phrase’Give it up for the common people’s economy’ and’Business fund support’, so I consulted with confidence. Currently, the legal maximum interest rate for institutional financial companies is 24% per year. However, this illegal private financier deceived as ‘12% quarterly’. It exceeds 40% on an annual basis.
As bank credit loans are blocked, illegal private financing is spreading. These private financiers, disguised as commercial banks, are seducing small business owners who are on the’loan cliff’ with the phrase’specialized loans for the common people’. According to the Financial Supervisory Service on the 25th, the number of debtor agent appointments surged from 121 in October to 173 in November and 258 until the 24th of this month. The debtor agent system was introduced in February so that authorities can appoint free lawyers to prevent illegal collection activities.
In fact, as a result of calling a company that was not registered with the loan association, one company changed the annual interest rate to a three-month interest rate. A company official said, “If you borrow 20 million won, you have to pay 240,000 won for 100 days.” The names of commercial banks familiar to small business owners were changed. BNK Busan Bank sends a text message saying that it is a special loan for ordinary people in the name of’BNK’ minus only the bank.
Illegal private financing through internet loan counseling cafes is also increasing. Internet illegal private financing companies introduced themselves as loan consultants and induced illegal high-interest micro-loans. It seems that it will be difficult to receive credit loans from banks and savings banks, so I will introduce a loan company. An official from the Financial Supervisory Service said, “There are cases where 300,000 won is loaned in the name of having to check credit in order to increase the loan limit and repaid it to 500,000 won in one week.
Reporter Oh Hyun-ah [email protected]
Ⓒ Hankyung.com prohibits unauthorized reproduction and redistribution