Alterations in pay day loan market — more accountable financing, less indebted. Credit rating lenders examined customer solvency a whole lot more cautiously.

Alterations in pay day loan market — more accountable financing, less indebted. Credit rating lenders examined customer solvency a whole lot more cautiously. https://cashlandloans.net/installment-loans-ma/

Within the half-year that is first of, the amount of pay day loans given in Lithuania reduced by two thirds 12 months on 12 months, whereas the total amount lent to customers halved. Credit lenders assessed customer solvency more responsibly. For the time that is first history, credits overdue reduced in number.

‘Changes are obvious. Active guidance, stricter demands associated with the Law on Consumer Credits that came into force at the start of the and competition forced credit lenders to fundamentally change their approach and assess customer solvency more cautiously year.