Interview with Isabel Novosad, President of the Association PADEC (Prevention, and Consumer Advice)
What are the most frequent complaints they receive in the association?
Fundamentally, are banking issues. Specific issues and abusive charges for debts that users can not pay. We are trying to do is to avoid being charged interest and fees abusive and that expenditures conform to the parameters of the law.
The credit card bill leaves it to the very banks interest on top of what can be done against this?
is exactly true. Art. 16 of the law of credit cards (25 065) enables the issuers of credit cards to apply up to 25% more than the fees set for personal loans. A literal interpretation would mean that institutions bank may charge up to 25% more than they wish to collect on personal loans. This interpretation also to be shocking with the guarantee of property rights implies a privilege of the financial sector at the expense of consumption and production.
For the art. 4 of the Consumer Protection Act, banks should report in a truthful, comprehensive, effective and sufficient criteria by which sets interest rates. With no explanation, the banks keep the money from users that overload with more debt than they should bear.
What is the interest rate you should charge?
In times of inflation, the judges considered the acceptable rate was 5% to 6% annual rate of inflation plus .
There is a whole of year 91 of the Charter Business, which warns of the danger that in times of stability the users end up paying higher interest rates in inflationary times.
Aristotle said that money makes money . But the gain should be a function of the job. For this reason, rates should not exceed the growth parameters económico.En 97 years, was applied between 70 and 80% interest on credit cards.
What are the most frequent complaints they receive in the association?
Fundamentally, are banking issues. Specific issues and abusive charges for debts that users can not pay. We are trying to do is to avoid being charged interest and fees abusive and that expenditures conform to the parameters of the law.
The credit card bill leaves it to the very banks interest on top of what can be done against this?
is exactly true. Art. 16 of the law of credit cards (25 065) enables the issuers of credit cards to apply up to 25% more than the fees set for personal loans. A literal interpretation would mean that institutions bank may charge up to 25% more than they wish to collect on personal loans. This interpretation also to be shocking with the guarantee of property rights implies a privilege of the financial sector at the expense of consumption and production.
For the art. 4 of the Consumer Protection Act, banks should report in a truthful, comprehensive, effective and sufficient criteria by which sets interest rates. With no explanation, the banks keep the money from users that overload with more debt than they should bear.
What is the interest rate you should charge?
In times of inflation, the judges considered the acceptable rate was 5% to 6% annual rate of inflation plus .
There is a whole of year 91 of the Charter Business, which warns of the danger that in times of stability the users end up paying higher interest rates in inflationary times.
Aristotle said that money makes money . But the gain should be a function of the job. For this reason, rates should not exceed the growth parameters económico.En 97 years, was applied between 70 and 80% interest on credit cards.
is currently between 18 and 35% annually in the first line card. The second line have a stake of between 80 and 90%. That is usury.
"Why is it so important to check that banks do not charge $ 1 or more customers?
The consumer law is relevant for macroeconomic effects it causes.
The trouble is that if such contracts are generated massive irregularities are facing a violation of the right of ownership. For example: 300 thousand or more people who have demanded payment compulsively 3 or 4 pesos for charges are illegal.
The question becomes relevant because these people have stopped drinking, for example, $ 2 multiplied by 300 000 people is $ 600,000.
For $ 8 pesos is $ 2,400,000 in a single month.
Multiplied by 12 months for $ 2 is $ 7,200,000. And at $ 8 are $ 28,000,000 per year.
Therefore, this influences the generated jobs and a reduction in consumption and a shift of ownership to the detriment of consumers and for banks to charge more.
"Why is it so important to check that banks do not charge $ 1 or more customers?
The consumer law is relevant for macroeconomic effects it causes.
The trouble is that if such contracts are generated massive irregularities are facing a violation of the right of ownership. For example: 300 thousand or more people who have demanded payment compulsively 3 or 4 pesos for charges are illegal.
The question becomes relevant because these people have stopped drinking, for example, $ 2 multiplied by 300 000 people is $ 600,000.
For $ 8 pesos is $ 2,400,000 in a single month.
Multiplied by 12 months for $ 2 is $ 7,200,000. And at $ 8 are $ 28,000,000 per year.
Therefore, this influences the generated jobs and a reduction in consumption and a shift of ownership to the detriment of consumers and for banks to charge more.
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