A large number of citizens, especially in the last year, turned to the activist and trade unionist Marjan Risteski to complain that they were "stuck" with quick loans, and there are still complaints about old accounts even after 20 years, for which they are requested through executors and for an amount many times greater than what they owed.

It is indisputable that the debts must be returned, but Risteski appeals to the Government, especially to the Ministry of Finance to control how much the financial companies work legally and how much they mislead the citizens with hidden costs. Regarding the regulation, Risteski emphasized, legal amendments are needed that will limit all the costs that are paid for a quick loan, as well as there should be changes in the Law on Obligation Relations, which will set an upper limit for interest on interest.

- Given the standard of living, citizens find salvation in fast loans that are really quickly obtained, but difficult to pay off. We have had a lot of backlash in the last year and the robbery that is done through various add-ons that are not reported to the customers must be stopped. For example, if you come to such a financial company and ask for a quick loan, and they ask you if you want the money immediately, the answer is usually affirmative, but it costs extra money, and the client is not notified. Then, a delay of 5 days is 900 denars, so with the new 5 days, 900 denars arrive again. If they send you one letter, that's 1.500 denars. There are no extras... The Ministry of Finance is responsible for the supervision of these financial companies and should see to it.

There must be a mechanism for honest operation. On the other hand, the biggest fine for these financial companies is 5.000 euros - says Marjan Risteski, an activist in the civil initiative "Stop the executors" and president of the Confederation of Trade Union Organizations of Macedonia, in an interview for "Utrinski Pechat".
Risteski says that usury is now present in the country, which is punishable under the Criminal Code.

- Usury is punishable by law. It is written in the Criminal Code that if the collection is disproportionate to the main debt, it is a type of usury and it is a crime - emphasizes Risteski.

Risteski warns the MPs to approve the proposed amendments to the Law on Obligation Relations, which have already been passed by the parliamentary committee, and which should limit the interest rates.

– The interest is huge. There are examples where the citizen pays 5.000 denars for 100.000 denars, where he pays 1.000 euros for 10.000 euros, and we are constantly advocating for the amendment of the regulation. We welcome the proposal for changes in the Law on Obligation Relations, given by a parliamentary group, according to which, at the moment when the interest reaches the principal debt, it should be frozen. This means that, for example, if someone has a debt of 8.000 denars, the interest should not be higher than 8.000 denars. In that case, executors and creditors will not even have an interest in keeping objects in a drawer after 10 years, so that moment, before the object becomes obsolete, they should take it out and that debt with calculated interest becomes huge - says Risteski.

He claims that by prolonging the procedures, they come across accounts that are 20 years old.

- These are accounts from the transition period when many citizens lost their jobs, when the big bankruptcies were happening. I have talked with the citizens and they say, well, I will pay my bill, but not for a bill of 1.000 denars, 23.000 denars should be returned. I took out such a document publicly - says Risteski.

Watch the whole interview in the video: