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Financial expert warns: Beware of tempting loan offers - Cologne consumer advice center is alerting you to dubious lure offers.
According to a report from www.ksta.de, the Cologne consumer advice center urgently warns against lure offers in the credit sector. People in financial need in particular are increasingly being ensnared by dubious providers who offer supposedly attractive loans. Small and short-term loans in particular advertise low interest rates in order to solve short-term money problems. But consumer advocates warn that such offers often involve high costs and non-transparent additional services. There are also warnings about dubious credit brokers. These supposedly offer quick solutions, but they turn out to be hidden financial restructuring for which large sums have to be paid in the end. The impact on the market and consumers is serious. People with low income...
Financial expert warns: Beware of tempting loan offers - Cologne consumer advice center is alerting you to dubious lure offers.
According to a report from www.ksta.de,
The Cologne consumer advice center urgently warns against lure offers in the credit sector. People in financial need in particular are increasingly being ensnared by dubious providers who offer supposedly attractive loans. Small and short-term loans in particular advertise low interest rates in order to solve short-term money problems. But consumer advocates warn that such offers often involve high costs and non-transparent additional services. There are also warnings about dubious credit brokers. These supposedly offer quick solutions, but they turn out to be hidden financial restructuring for which large sums have to be paid in the end.
The impact on the market and consumers is serious. People with low incomes and levels of education are particularly vulnerable to such lure offers. The demand for legal reform to provide more consumer protection is being raised in order to put a stop to such machinations. In addition, if you have financial difficulties, you are strongly advised to seek professional help at an early stage in order to protect yourself from such dubious providers.
It remains to be hoped that the consumer advice center's demands will be heard and lead to greater regulation of the credit market. The current machinations not only have a negative impact on the financially weak, but also undermine trust in the credit sector as a whole.
Read the source article at www.ksta.de