Certainly you have already seen an offer for loans without a register, without proof of income, without a guarantor or other non-bank loan.
Similar offers can often be found in various newspapers. You can see the leaflets at the bus stops, or you may see a leaflet offering similar loans in your inbox.
Loan and Credit telephone loans
Many of these offers – loans without income receipts, no collateral, no guarantees, or no register verification – are covered by fraud. This is also the case with one of our readers, Petr Novák, who shared it with us:
Petr Novák: A few months ago I was in great financial distress. Unexpectedly, I lost my job and had almost no money saved. For the first few weeks I managed to do what I had at the bank, but then I was only dependent on unemployment benefits. I have two small children, and the money that my wife receives is not enough for all our expenses.
I was looking for a loan, I ran into an ad in the newspaper where they offered loans to people without work and unemployed . I called the listed phone number.
The new loan applications
On this issue, they told me almost nothing, just that the new loan applications are resolved by another colleague and gave me a number where to call. So I called the number they gave me.
The second call lasted nearly an hour. First they switched me several times, then I had to wait, then they asked me about everything and I didn’t really know anything from them. In the end, they only told me that they would contact me no later than the next day to discuss all further details. Actually, I didn’t hear anything during this call.
The next day nobody called me again. In a couple of weeks, I got a phone bill. The second number I called was paid. I paid 99 USD for every minute. In total, this joke cost me more than five thousand crowns.
End of Loan and Credit phone loans
There are dozens of similar cases. There are very many people who have fallen into a Loan and Credit telephone loan like Mr. Novák. This is one of the reasons why the Treasury has decided to ban these Loan and Credit telephone loans.
As of the beginning of next year (2013), an amendment to the Act, which will ban paid telephone lines in connection with lending, should come into effect.