Loan Finance Association survey results released
viewer
The Korea Loan Finance Association announced on the 20th that the average annual interest rate was 401% as a result of analyzing 5,160 cases of illegal debentures last year. The average loan amount of illegal debenture victims was 9.23 million won, and the average transaction period was 64 days. There were 4,830 cases of emergency loans that were borrowed by credit without collateral. There were 285 daily loans and 45 mortgage loans.
This is the result of investigating the loan amount, transaction period, and interest rate by collecting 1,690 cases in which the victim directly contacted the association and 3,470 cases requested by law enforcement agencies to investigate.
The Loan Finance Association is conducting debt adjustments within the legal interest rate by directly contacting the loan company when an illegal debenture victim applies for debt adjustment to the association. The association has readjusted interest rates for 458 cases of illegal debenture damage (loan amount of 697.55 million won) over the past year. In addition, 28 loans repaid over the legal maximum interest rate of 24% per annum were forced to return the excess interest of 44.38 million won to the debtor.
Along with this, the association supports investigative agencies such as the prosecution and police to calculate the correct interest rate when investigating illegal loan companies. This is because, unlike general financial transactions, illegal debentures are paid off in an irregular or non-fixed manner.
The Loan Association said, “Recently, there are many cases where illegal loan sharks lure the self-employed and low-income people who are unable to use institutional financial institutions with false or exaggerated advertisements on the Internet.” If you contact the Consumer Protection Center of the Association, you can receive relief from damage through consultation.”
/ Reporter Lee Ji-yoon [email protected]
< 저작권자 ⓒ 서울경제, 무단 전재 및 재배포 금지 >