When I heard about our loan services from the presenter, I thought we have many kinds of loan servicing businesses in Korea. And I realized the interest rates are too high for us. Many poor people borrow money from private lenders. And most of the people have no capability to pay back the money and they know the high interest rates as well. If so, why do they borrow the money from the private lenders? It is quite hard to understand for me.
However, when I turned on TV, I could understand somewhat why they borrow the money from the private lenders. The reason is that we can see a lot of commercial advertisements on TV. Also we can find a lot of commercial advertisements at any time, and anywhere, besides on TV. The commercial advertisements tell us they always loan money to anybody easily and quickly. Nowadays, we can borrow money by using mobile and internet from them and it doesn’t even take an hour. They explain a lot of options by using the commercial advertisements. That’s why many people consider this way. If someone who doesn’t have capability to pay back money borrows a lot of money from private lender and he didn’t pay back the money in time, the private lender may harass him or hire illegal collections. This situation will be getting worse over and over.
Therefore, I think the Government should take a step to prevent this situation. What if the Government let the private lenders use less the commercial advertisements? I think if that happened, our loan problem may be reduced.
I agree with you, I also feel that the government should set up loan policies for people with low income and take severe measures in order to prevent such happenings.
답글삭제As you said, the private lender's advertisement is the biggest cause of borrowing money from there. They always explain that they will borrow money anybody, anytime quickly and easily.
답글삭제I think Some of Debtors don't have ability to pay off their debt. and Creditor want to hurry up to pay off them So, they easilly fall into temptation to pay off their debt. That is a vicious circle of poverty.
답글삭제I agree with your opinion. Most of the people who loan money are poor people. They encounter advertisement easily in internet and receive private lenders' SMS messages. Therefore, they can easily learn to borrow loan and can borrow loan lightly. So, Government should regulate advertisements of private lender and make a strong law about loan in order to reduce damage of people borrowing money.
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