Following infringements of consumer loan providers in the consumer solvency assessment process, the PTAC approves new guidelines for a more detailed and thorough assessment of consumer solvency, when granting a loan
27.04.2018. The Consumer Rights Protection Centre has approved new “Guidelines for assessment of the consumers' ability to repay a loan to loan providers, providing loan services to consumers”. The guidelines provide that consumer loan providers will have to be more deeply and in more details sure about a consumer's ability to repay a loan.
The Consumer Rights Protection Center, in co-operation with the Faculty of Business, Management and Economics of the University of Latvia, conducted a study to clarify the reasons, conditions, situations and sales practices that encourage Latvian residents to use remote or payday loans, explore the experience of consumers in the borrowing process and repaying loans.
After long economic turbulences, the German airline Air Berlin had to file for insolvency. What are the consequences for consumers?
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