It is available on the website Jakprezitdluhy.cz/lichvolapka. “You only need to fill in a few details about the circumstances under which the loan was granted and how much it costs,” said People in Need analyst David Borges.
“The price of the loan is assessed by the annual percentage rate of costs (APR), which includes not only the interest rate, but also various fees that lenders often charge. This information is a mandatory part of every credit agreement,” he added.
People have to add the month when the loan was granted to them, the amount of the APR and answer basic questions in the application. For example, whether the lender has verified their income or living expenses.
The usurer was given probation. He wanted 90 percent interest
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Then he will answer whether, for example, the amount of the loan is not in accordance with good morals, when it exceeds four times the usual rate at the time of the conclusion of the contract, or whether the loan is in accordance with the law.
“If you find that the loan according to our orientation test is not in order or you have doubts, we recommend the free help of our advisers via the help line 770 600 800. They will check each situation in detail,” added People in Need.
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Enforcement with disproportionate interest must be stopped by the courts, the Constitutional Court reminded
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