If you get entangled with a loan shark, don't know how to handle black credit? This article will help you solve your current problem.
The reality of "black credit" activities, illegal high-interest loans are creeping across provinces and cities across the country, causing many negative impacts on social life, causing insecurity and disorder. So how to handle black credit How , black credit can not pay , then how?
The following article will help you learn about the current black credit situation , guide you on how to deal with bad credit, and update information on how black credit is penalized .
The actual survey shows that, along with the development of the economy, the demand for loans of people and businesses is increasing, while official credit cannot meet the borrowing needs of foreign investors. Therefore, black credit activities still exist and become increasingly complicated.
Assessing the current situation of credit activities in Vietnam, the World Bank has made the assessment that about 70% of the Vietnamese population has not yet accessed bank capital , the number of businesses that can access the main source of credit capital. The new formula accounts for one-third of the total number of businesses, this is the space for black credit to exist and develop.
Up to now, black credit has broken out and operated underground or openly in 63 provinces and cities across the country. The reason black credit activities still exist and explode strongly in recent times is due to the following reasons:
- First, for the lender:
Usually because interest rates for black credit intermediaries are very high (from 100%/year to 300%/year), many times higher than that of bank deposits, about 50% to 70%/year. Because of "self-seeking", lenders are willing to provide capital to loan intermediaries, paying little attention to the legal status of organizations and personal identity of borrowers.
- Second, for borrowers:
Borrowers accept to look to black credit, even though they have to bear high interest rates, with many potential risks. The reason is that they are not eligible to borrow other types of credit, while the conditions and procedures for loans of black credit are very simple, convenient, with many loan limits, from small to large; diversified loan forms; Quick disbursement, can receive money immediately, flexible payment method...
Besides these favorable factors, this credit activity is creating many consequences and causing instability in society such as:
- Very high interest rates on black credit loans:
If borrowing for consumption , the borrower has to pay interest, easily leading to insolvency; and if borrowing to invest in production and business, there is no industry with a profit rate equal to the black credit interest rate, so it is easy to lead to capital loss, bankruptcy is inevitable.
- High-risk black credit:
When the borrower fails to pay the debt on time, or becomes insolvent, the debtor will be required to collect the debt by means of illegal property appropriation; suffering from "terrorism" in terms of mental health, health, even life threatening, causing instability in security, order and social safety.
In addition to the above consequences, black credit is a type of credit that operates without any specific regulations and is not subject to the management and control and management of state agencies, so when there is a risk. Inability to pay, the subjects of black credit handle themselves arbitrarily and illegally.
So, how will black credit institutions be handled when detected and searched?
Currently, the problem of loan sharking is no longer strange and occurs extremely common. In order to prevent usury from causing negative impacts on society, the State has a number of regulations to handle this violation.
According to the provisions of Article 468 of the Civil Code 2015, the loan interest rate shall be agreed upon by the parties.
Regarding interest rate limit: Where the parties have an agreement on the interest rate, the agreed interest rate must not exceed 20%/year of the loan amount, unless otherwise provided by other relevant laws.
In case the agreed interest rate exceeds the limit interest rate as above, the excess interest rate will not take effect.
In case the parties have an agreement on interest payment, but do not specify the interest rate and there is a dispute over the interest rate, the interest rate shall be determined equal to 50% of the limit interest rate at the time of debt repayment.
Thus, the limited interest rate is the highest interest rate in the Civil Code. The lending interest rate must not exceed 20%/year (ie 1.67%/month) of the loan amount.
Article 201 of the 2015 Penal Code, amended and supplemented in 2017 (the Penal Code), stipulates that offenders may be criminally handled if they perform the act of lending with an interest rate above 100%/year and collect illegal profit of 30 million VND or more or lending at an interest rate of over 100%/year and has been administratively sanctioned for this act or has been convicted of this crime, has not yet been expunged, but still commits a crime. offense.
Article 201 of the Penal Code stipulates the penalties for usury in civil transactions as follows:
- A fine of between VND 50-200 million or non-custodial reform for up to 03 years for the crime of usury as above.
- A fine ranging from VND 200 million to VND 1 billion or imprisonment from 6 months to 3 years if committing the crime and earning an illegal profit of VND 100 million or more.
In addition, this offender may also be subject to an additional penalty of a fine of between VND 30 and 100 million, a ban from holding certain posts, practicing certain professions or doing certain jobs for one to five years.
In short, the act of loan sharking can be administratively sanctioned or criminally handled depending on the interest rate, the amount of illicit profit received by the person committing the loan sharking. Violators may be fined up to VND 1 billion or imprisoned for up to 3 years .
It can be said that, although bank capital has been contributing to promoting production and business development, black credit still crept not only in remote areas but also in the heart of cities. So how to handle black credit ?
Preventing and repelling black credit is an urgent requirement today to make the credit market healthy and stabilize people's lives. To prevent and reverse this situation, immediate and long-term solutions are needed.
- Propagating people to raise awareness
First of all, it is necessary to propagate to raise people's awareness of black credit and black credit traps, especially its consequences. Strengthen communication and strictly handle cases caused by black credit.
- Strictly handle loan sharks
The functional agencies have strengthened the management of activities of organizations and individuals engaged in credit activities, hiding under the guise of "financial support companies and shops" which are emerging popular today.
- Banks and financial companies need to expand and support consumer loans for people
- Need to improve the legal system
In the long term, it is necessary to amend and complete the legal system related to lending activities in a stricter direction; regulations on criminal and administrative sanctions should be stricter than the current law.
In case, people accidentally fall into the "credit trap" and do not know how to remove it?
The usury of black credit institutions for any purpose, if not paid on time, will often be threatened to collect debt, this threat can happen to relatives (usually parents and children). in debt).
When entangled in black credit debt, surely many people seek to get out of black credit. But really, once you get into these objects, it's hard for you to get out. The only solution is to quickly pay off the debt and pay it on time so as not to be charged high interest .
Since the bad credit lenders are already outlawed, even if you call the police, it is very difficult to be protected. The police also have no evidence to solve this problem. Only when these subjects cause serious consequences can they intervene.
In addition, when you report to the police, then these people will take revenge, endangering yourself and your loved ones. However, you should still report to the police to solve the problem if it is dangerous.
Certainly, avoiding debt will affect you personally and your whole family now and in the future. Avoiding debt is not a good solution, because the more you hide, the more the debt will increase, the more difficult it is to control.
Therefore, if you ca n't repay a black credit loan , ask for help from relatives and friends. If necessary, the competent authorities can intervene to solve quickly and safely.
As you have seen, having to borrow black credit will make you not only struggling and miserable to pay the debt, but also seriously affect your personal and family life. Therefore, research the lender carefully before accepting the loan.
Learn how to spot bad credit and avoid it. Unable to get a loan from a bank or anywhere else, you can ask for support from the financial company CashBerry .
CashBerry is an online money lending service with identity cards . Understanding the difficulty of getting a loan, CashBerry has implemented an online consumer unsecured loan . Customers only need to fill out an application form, wait for approval, and receive money to their account.
The maximum loan limit at CashBerry is 10 million VND. Although the number is not too large, it will solve many problems such as daily expenses, medical examination and treatment, payment of electricity and water bills, house rents, tuition fees, travel expenses, ... more than helping you avoid encounters. must credit black.
The above is the way to deal with black credit that is being applied today in Vietnam, and CashBerry also offers a solution for those who owe money to usury organizations. Hopefully, through the article, you have updated yourself with useful knowledge, helping you to solve financial problems.