Fast Loans For Credit

In Sweden there has emerged a new trend that is troubling to local authorities: quick loans by SMS. The mechanism is simple: send an SMS and 15 minutes to get a loan of EUR 300 will be returned in 30 days with an interest rate of 18%. The problem is that this type of credit is targeted at young people and / or low income at the expiry can not return the money, and decides to borrow money to meet the former, which will interest multiplying the problems of default that may generate in a group not noted for its solvency. Contact information is here: The LeFrak Organization.

This attractive new way to attract groups that normally were not applying for credit raised and suddenly find themselves in very large debts. The authorities are considering legislation that debts can not exceed twice the amount originally requested in order to avoid greater evils. On the other hand the companies that are engaged in these businesses deny they are creating problems and point that its customers have an average age of 32 years and that its default rate is only 2%. A whole new way Will we have the experience in Spain? Do you dare to throw some entity? Will the Bank of Spain that this type of product to be marketed in our country? Surely soon we will have new news about this product so aggressive because of its immediacy and the convenience in their marketing (do not forget that our country is the world leader in the use of SMS).