Fast loans will continue to be approved electronically, but with protective mechanisms

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Until now, she was able to pass a transaction bill disguised with photoshop, or buy a TV, washing machine, refrigerator... with someone else's ID card?!

After a series of abuses of personal documents, where people unknowingly faced blocked accounts to pay for quick loans that they did not use, the Ministry of Finance is finally improving the regulation. A Rulebook has been adopted on the way to manage the credit risk of a financial company, but one part of it will be applied from May 1, and another on July 1. The part whose provisions refer to the identification of credit seekers should see the light of day sooner, and the part that refers to a type of protection against over-indebtedness will start to be applied later.

According to the new Rulebook, "if the funds are paid to the client's personal payment account, the financial company should not identify and update the client's data." This means, as before, after applying electronically, borrowers can easily receive the money on their account. But now there are safeguards against abuse.

- Electronic application is still possible, where either a combined scheme of identity verification will be used, or the money will be paid only to the client's account. KIBS offers a service where you can check who the account belongs to by certain data. Until now, it was also possible to photoshop the accounts, that is, to change the first and last name, like someone whose identity card was used to take out a loan falsely. Thus, the money went to one account, and the debt was managed by another person - explains a source for "Sloboden Pechat".

Our source says that most of the abuses happened in trade.

- Until now, merchants offered to sell products in agreement with financial companies, but in such a way that the data from the ID card used for taking the loan was not compared with the data of the person who took over the goods. Well, so it was possible to say to deliver the goods to a completely different address. It will no longer be possible to do so. The person who pays, that is, who took out the loan, must be identified when taking over the goods, for example a TV, refrigerator or some other machine - says our interlocutor.

With the new Rulebook, citizens should be saved from excessive indebtedness. From July 1, the approved loan should be such that the installment cannot be higher than 70 percent of the income. Or, if someone has a salary of 30.000 denars, the installment can be 21.000 denars at most. However, according to experts, on the one hand this is good, but on the other hand it opens up space for taking money illegally.

The battle for the regulation of the quick loans market has been led by the Ombudsman for a long time. Presenting the Annual Report to journalists last year, he indicated that for a fast loan of 9.000 denars, a citizen was forced to pay an amount eight times greater than the main debt, or 75.772 denars. At the same time, he clarified that only the compensation for the delay of this loan was MKD 58.846. In yesterday's guest appearance on TV 24, he repeated that the complaints about the huge liabilities after the quick loans taken out continue, and he pointed out an example where a person with a disability had his identity stolen and thus incurred a debt.

There are 33 financial companies in the country. Everyone advertises that it is quick and easy to get a loan. For a loan of 30.000 denars in 8 installments, through "M Cash", the installment is 6.778 denars. "Flex Credit" has announced on its website that in the case of a loan of 10.000 denars for a period of 3 months, the total amount of interest for the period of using the loan will be 419 denars. "Iute" lists 30.000 denars as the most popular loan on its website. The interest is zero denars, but the approval fee is 7.154 denars.

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