Estonia - The Consumer Protection Board suggests consumers to be careful while taking a loan

Christmas has always been time for giving and favourite season for credit companies who offer their "helping hand" for buying presents, especially those companies that offer fast-loans. In autumn 2009 the Consumer Protection Board has directed its attention to fast-loan companies and has already initiated 12 cases of misdemeanour decisions.

Throughout past year there have been many changes in different laws (for example an advertising act) to assure better protection for consumers.

Fast loan contract must be written and include:

• the expense of the credit and the whole loan-sum,
• the repayment due and the final sum of it,
• the right to backout from the contract and the terms of it,
• while making a deal the fast-loan offerer must fill due diligence.

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