Protection of borrowers from the actions of microcredit organizations
Recently, we have been frequently contacted by citizens who have problems with loans received from so-called "micro-credit organizations" (Online Finance LLP, Money for the Population LLP, etc.). We can say that all these citizens have the same problem, and it consists in excessive an inflated amount of remuneration and penalties (penalties) for the loan received. For example, Citizen N. He received a loan in the amount of 100,000 tenge from LLP "K" for a period of one month, due to financial difficulties, he was unable to return the funds on time, as a result, after a few months LLP "K" presents 300,000 tenge for collection. I would like to draw your attention to the fact that the actions of K LLP in this situation are unlawful for the following reasons: Protection of borrowers from the actions of microcredit organizationsin accordance with paragraph 1 of Article 24 of the Law of the Republic of Kazakhstan "On Microfinance Organizations" (hereinafter referred to as the Law), legal entities that are not registered as microfinance organizations are not entitled to carry out business activities to provide micro-loans. In our situation, K LLP is not a microfinance organization, since according to paragraph 1 of Article 13 of the Law, the name of a microfinance organization must necessarily contain the words "microfinance organization". Also, the provision of a loan with remuneration relates to banking operations, in accordance with Article 30 of the Law of the Republic of Kazakhstan "On Banks and Banking Activities", this type of activity is subject to licensing in accordance with the Rules for Licensing banking operations carried out by organizations engaged in certain types of banking operations, approved by the Resolution of the Board of the Agency of the Republic of Kazakhstan for Regulation and Supervision of the Financial Market and Financial Institutions. organizations dated June 25, 2007 No. 168.
Protection of borrowers from the actions of microcredit organizations
Thus, K LLP does not belong to organizations that are entitled to provide micro-loans and carry out certain types of banking operations. Consequently, such organizations do not have the right to demand a refund of remuneration and penalties (penalties). We would like to inform you that if you have any similar problems, the Law and Law law company is ready to assist you in resolving them. The solution to this problem is that the Borrower will return to the organization only the amount of the principal debt, without repayment of remuneration and penalties (penalties).
Attention!
Law and Law Law Law draws your attention to the fact that this document is basic and does not always meet the requirements of a particular situation. Our lawyers are ready to assist you in legal advice, drawing up any legal document suitable for your situation.
For more information, please contact a Lawyer / Attorney by phone: +7 (708) 971-78-58; +7 (700) 978 5755, +7 (700) 978 5085.
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