Predatory interest is more common than we can imagine. They are present in credit lines of the most offered by the traditional banks, which include a less rigorous process and count on the possible delinquency of the client, what leaves very high rates.
Find out when there is abusive interest
The abusive interest usually goes unnoticed by more inattentive clients, but it is with some basic calculations and comparisons that a specialist can conclude if there were additions beyond that indicated in the provision of credit service. Let’s understand better?
How to find abusive interest?
To find the abusive interest in the credit agreement, be it financing or borrowing, you must pay attention to the following details:
Contract: It is in contract analysis where you can find basic information about the service, such as total value of debt, quantity and value of installments, among other details.
Typically, the language of credit contracts is more technical, and most non-specialists in the field will hardly understand in a shallow reading, the quickest to sign the service contract.
Data: The law provides guidelines for what is abusive interest. For example, it is taking the date of signature of the agreement and comparing with the average interest rate published by the Central Bank of Brazil according to that service that is discovered if there is abuse or not in the amount passed on to the consumer.
It is worth remembering that it is not just a type of fees, but different interest that makes up this type of credit service.
How to avoid very high interest rates?
The watchword is to search the credit options. There are many credit options in the financial market today, be it the loan itself or even the financing. Regardless of your purpose, research these possibilities and escape the villains.
For example, did you know that overdrafts and credit cards are the most expensive interest rate options on the market? The former revolves around 324% per year, second only to the second, which almost reaches 335% per year, respectively. To get started, then cut these two options off your list.
So, be patient and look at the options on the market, compare interest rates, and be wary of many facilities. And remember to use the internet in your favor, research the central bank’s website and interest the month, thereby creating a basis of comparison before hiring the credit service.
Most interest on the market
The more affordable interest rates on the credit market are more spread out, in different options even. Let us see, according to the data of the central bank, considering first the most affordable interest rate with average rates:
- Loan with guarantee of property: 16% pa
- Public Consignment: 24% pa
- Consigned INSS: 26% pa
- Loan with car guarantee: 33% pa
- Private Payroll: 41,% aa
- Personal Loan: 125% pa
- Credit card installments: 174% pa
What to do with high interest rates?
If you have signed a contract and it contains the abusive interest, then look for your right. According to law experts, after finding the high fees, the lawyer can enter with the so-called revisional action.
When the action is accepted, the financial institution will have to discount the amount that was paid more in the next installments or even to refund the amount exceeded to the consumer.
The lawsuit does not have a deadline to happen, however it is common that it does not take too long. The lawyer also looks at other possibilities and if the case is actually feasible.
Consumer Code addresses high interest rates
More than simply doing the math, you have to be aware of legislation. According to the CDC (Consumer Protection Code), Law No. 8.078, article 39, item V, of 1990, “it is forbidden to the supplier of products or services, among other abusive practices, to demand from the consumer a manifestly excessive advantage” .
In addition to talking about interest, the code also talks about unfair contractual clauses. According to article 51, item IV, “contractual clauses related to the supply of products and services that establish obligations considered iniquitous, abusive, that put the consumer at an extreme disadvantage, that is, incompatible with the good faith or equity. “
To avoid high interest rates, just research, analyze and even talk to market experts. Compare yourself and do not quit closing the first deal. Remember that the situation gets complicated after signing the service contract.