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Let me make it clear about alterations in pay day loan market — more responsible financing, fewer indebted

Let me make it clear about alterations in pay day loan market — more responsible financing, fewer indebted

the amount of pay day loans given in Lithuania decreased by two thirds on year, whereas the amount lent to customers halved year. Credit lenders assessed customer solvency more responsibly. When it comes to very first time in history, credits overdue reduced in number.

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