Loan Finance Association "reached 2279% average interest rate four illegal."

[Korea before lower cervical financial newspaper reporter] illegal four showed an average interest rate of up to 2279%.

Loan Finance Association of Korea analyzed 310 cases of illegal four (unregistered moneylender) transactions received requests from law enforcement authorities and consumers last year, the average interest rate is announced natanatdago eight days in 2279%.

The average loan principal trading period is 7.6 billion won, 24.52 million won per person is 202 days, the total amount repaid was investigating 119 billion. This type of loan is the number of days the loan was the most common with 139 cases (44.8%), credit, mortgage loans, 94 cases (30.3%), loans to feed 77 cases (24.8%) was followed.

In order to prosecute cut illegal loan shark to submit interest rate Yvan history in court, but the ring bonds to the (trading scheme to convert the arrears in principal), refinancing, frequent arrears, including commercial relationship is complex, consumers and even the interest rate calculated judicial authorities kkeok this It is struggling.

Loan Finance Association, has been carried out for the interest rate calculation services to law enforcement officials and victims since 2015 to support the illegal activities of Private Financing remedies and penalties.

Loan Finance Association official said that "recent increases are expected to victims, including four illegal leaflets flooding the streets with the highest interest rate cut, he said" it is recommended to contact the association to receive counseling if you're a victim of damage four illegal.

Is not registered moneylender is punishable by imprisonment or a fine of 50 million won less than five years. Unregistered moneylender who Violation of the maximum rate of 25% applicable to all restrictions and punishment by imprisonment or a fine of 30 million won less than three years, more than one recipient and must be returned to the debtor to void again.



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