To Finance the purchase price was offered to her credit, looked on the first glance, and for the time attractive.
In the workshop, you should complete a credit line with a credit card at Dresdner-Cetelem credit Bank. A credit framework in the amount of 1500 Euro. The Effective annual interest rate in the first six months at 1.90 percent.
So far So good – but the subsequent interest rate conditions, it is had in:
- The Effective annual rate rose from 7. Month and 9.90 percent per year, provided that the credit balance was below a limit of 1000 Euro.
- Increased the balance in the amount of 1000 Euro, which increased the effective annual interest rate of 15,90% annually.
- With the credit contract has been sold a payment protection insurance, which cost monthly, 0.84 per cent of the credit balance.
- For the repayment of the loan was agreed on a monthly minimum rate of 3 per cent of the credit balance (the previous month).
remainder of the debt of 5000 Euro – although the wife had already paid thousands of Euro’s
Since they had to this time on a low income of only a month to 800 euros, took the woman’s offer gladly. She was a single parent and had to Finance the low-income life for herself and her child. She took the granted credit limit with the purchase price of the winter tires in the claim, later, for more payments followed. Display you can Find your free credit card card scout
Then followed what had to follow: over the years the Rates have increased. When she could no longer pay the end of 2019, meanwhile, at around 150 Euro increase in the monthly installments, asked the car driver to the lender about the transfer fee amount: There are still to repay more than 5000 euros, with the Bank said.
consumer advocates fall short of a
Then the woman went to the consumer advice centre of Hesse, which examined the credit agreement to be legally and mathematically. “Strikingly, the first effective rate within the first 6 months and then a significant increase up to 15,90 per cent a year. The remainder of the debt insurance premium of 0.84 percent per month“, is added to summarize the experts. They point out that the repayment component of the monthly rate is thus significantly reduced. Online comparison (display) of credit comparison
in addition, it was stated that the residual debt insurance is a group insurance, in which the Dresdner-Cetelem credit Bank policyholder and the consumer are the only Person insured.
the woman paid, in truth, almost 30 per cent effective interest rate for the tires
In the end, the consumer advocates come in an incredible interest rate: even if you put only half of the residual debt insurance premiums in the calculation, resulting an effective rate of 27,08 percent annually. Display Here you will find the to terminate the template to your credit card!
“the market has been exceeded interest rate for revolving loans of 10.53 percent per year to 157 per cent,” says the consumer. The full rest will be taken into account the cost of debt insurance, it is even Exceeded by 233 percent. “In the two constellations is usury”, so the clear conclusion of the experts.
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- The Coronavirus pandemic, keeps the world in breath, More than three million people have been infected worldwide with the novel Virus – 164.095 of them in Germany. All the News about the Coronavirus pandemic in the Live-Ticker
- mean lock The imposed Contact for many of the broadest possible social Isolation. But, while in some States completely prohibited, to visit family, friends or Acquaintances home, allowed in others. It is important to note, however, a few rules. Read: Overview for all States – family, friends, Acquaintances: Who are you now allowed to visit and where the contact block applies
- That we will spend this summer our vacation on the Mediterranean sea, is very unlikely. Because when and if the European holiday countries open their borders is uncertain. Holidays in their own country but soon possible – at least in some regions. More: next state power-off free: Where we are soon to leave are allowed to do – and who may be the first pom
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