Case law reveals serious infringements in the fast-loan sector. Around 90% of cases involving fast loans identify unfair terms, unlawfully charged fees or contractual conditions that place consumers at a disadvantage.
Many fast-loan agreements conceal the real cost of credit through additional fees, administrative charges or “services” that do not comply with the law. As a result, courts often substantially reduce the amounts payable.
Debt collection practices create a further problem: collectors frequently pursue claims without sufficient evidence or under agreements containing invalid terms. This gives debtors a real opportunity to defend themselves and challenge the claims, as courts examine credit agreements for unfair terms of their own motion.
