On May 4, Binh Duong Provincial Police informed that the unit had just simultaneously launched a campaign to inspect law compliance at branches and transaction points of F88 Trading Joint Stock Company (abbreviated as F88) in districts, towns, and cities in the area.
Binh Duong police seized documents at an F88 branch in the area.
According to the police, through administrative inspections of 21/24 F88 business locations, many violations were discovered in the fields of security, order, economics, and fire prevention.
For asset deposit and asset mortgage transactions, F88 provides asset deposit and asset mortgage contracts showing interest rates, fees, agreements to lease back collateral assets... and many other terms in the contract that are not transparent, show signs of violations, and the loan interest rate exceeds the prescribed loan interest rate.
According to initial statistics from police units and localities, up to now, there are over 2,500 mortgage files with overdue debt payments, of which 561 mortgage files are overdue for payment for more than 90 days.
Binh Duong Provincial Police are continuing to work with the company to clarify the above violations.
Binh Duong Provincial Police recommend that people in need of loans should seek out legitimate credit institutions recognized and permitted to operate by the state.
In particular, when borrowing money, you need to carefully study the contents such as loan contracts, loan interest rates, fees, subcontracts, penalties for late interest payments, etc. Absolutely do not borrow money from individuals or credit institutions that are not reputable or illegal.
Do not borrow money through applications operating illegally on the internet to avoid being scammed or having other related problems arise.
Do not provide information or images of yourself, relatives, friends or agencies to strangers.
Proactively learn and recognize the methods and tricks of "black credit" activities posted and promoted by state agencies in newspapers, electronic information portals, social networking sites, etc.
Binh Duong Provincial Police also called on people who have been harassed, threatened, or mentally terrorized for the purpose of debt collection by employees of financial service companies, debt trading companies, debt collection companies "disguised" as law firms, pawn shops, to file a criminal complaint or contact the Criminal Police Department, Binh Duong Provincial Police directly.
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