Did you apply for a non-bank loan, pay a fee in advance and never see your own loan again?
There are several blacklists on the Internet where you can sign up for a fraudulent business or share your experiences with others. So you can help prevent other loan applicants from being tricked and throwing thousands of crowns out of the window. Honest non-bank companies do not collect fees for their services in advance, but spread them into individual monthly installments. If you are unsure, you can use a loan grader to find a loan that only works with verified companies.
If you want a non-bank loan, do not respond to printed ads, do not call paid lines. If your broker asks you to pay in advance, apply for a loan elsewhere, or consider whether you need it at all. A solid non-bank company has all the contacts on its website, it will send you the contract before signing it, so that you have a part to read it and does not press you with a signature. Always read the contract properly, including all its attachments, and also pay attention to small fonts. Not all non-bank companies are fraudsters.
Always check out a loan offer promising fabulous amounts. Read the terms and conditions, interest rate and repayments. Especially be careful if you guarantee real estate. If you are dealing with a loan with a sales representative, ask what you are interested in, but be careful if the sales representative forces you to pay the fee in advance or does not provide you with comprehensive information. You may also be at risk of fraud if your sales representative does not let you read the contract properly and pushes you as soon as possible to sign.
Fraudulent companies also use life insurance policies with high monthly repayments to conclude a credit agreement. You usually pay a few thousand and you won’t get a loan anyway. Since it is a life insurance policy, its cancellation is not so simple. If you cancel it in less than two years, you will lose your tens of thousands. The most popular are fraudulent loans by companies that mediate loans against bills of exchange or impersonate investors. As an excuse, they collect travel fees for your home or credit agreement, or for its approval. Usually, these are amounts from 100 CZK to 10 000. Of course, after paying the fee, you will not see either the “investor” nor the money or loan. You will find dozens of such cases on the fraudulent loan blacklists, and many are filing mass actions. Despite this, there are many people who believe in promises and often pay their life savings.
What if you are a victim of a fraudulent business:
Unfortunately, collective action, ie civil procedure, is not appropriate. It is associated with high costs of court fees and also a very long time that the courts in the Czech Republic solve these situations. Therefore, we recommend that you file a complaint that is not associated with any costs. In addition, if a fraud is detected, it is not only the legal entity but the individual who will be responsible for it. Therefore, there is much greater potential satisfaction.