Anna:
Recently I got a call and was invited to a master class on modern methods of healing. They promised a free miraculous massage and many different pleasant prizes. They asked me to take my passport with me, asked for the address and then sent home a personal invitation. I love gifts, a massage would also be useful - I was tormented by back pain. I decided to go.
The presentation took place at the hotel. Nice young people accompanied me to the hall. There were 50 more people there, I even met my old acquaintance there and we sat down next to her.
First, we were told about the benefits of massage, and then they offered to try it on ourselves. The manager helped me get into a special chair with a massage cape. The young man said that this cape can be used to improve blood circulation in the back, arms, neck, and legs. The sensations from the massage were quite pleasant.
After that, the drawing of gifts began. The host gave my name - it turned out that I won the vacuum cleaner. After the lottery, I was invited to a separate room to claim the prize. The manager said that the vacuum cleaner comes as a gift when purchasing a massage cover. And since I am a prize-winner, they will make a huge discount for me too - 50%. The cape itself costs $ 3000, but they will give it to me for $ 1500.
I was taken aback by such a price - my pension is several times less and in general I don't carry that kind of money with me. The guy said that you don't have to pay right away - you can take out a loan, and then gradually make payments to the bank. He gives me a pile of papers and says: here, sign, you will not regret it. And my daughter forbade me to take loans. She promised, if anything, to help herself. I said that I needed to think and consult with my daughter. The guy began to push and rush. He says that you will not find such an offer anywhere else and the discounts are only valid today. Then it will be much more expensive.
Then I began to wonder what health problems bother me. I said that my back often hurts. The guy replied that his mother had exactly the same problem and only this massage cape saved her. Then he pulled out a catalog of products for the back and neck - there were orthopedic pillows, warming blankets made of natural wool. All this is also with discounts, but the prices scared me very much, even with discounts it is expensive. As a result, I refused to buy anything and the manager very rudely kicked me out the door, said that I was wasting his time.
I’m standing there waiting for my acquaintance to complain to her about the rude person, but she comes out happy and with huge boxes! Fathers, I say, have you bought something? She began to brag - she hadn’t spent a ruble now, she would pay later, she took a cape, pillows and a blanket with discounts. She did not understand at all that she had taken out a loan! Then she called me, cried, her husband scolded her, forced everything to be returned back and the loan was canceled, but nothing could be done, these guys from the presentation had already turned down the shop and did not answer calls. And I don't know how to help her now, because she really signed everything there herself, and the bank makes her pay. What should I do?
Financial Culture Expert:
Anna remembered her daughter's warnings in time and refused such a "profitable" offer. Moreover, the organizers of advertising presentations often skillfully fill the price of goods that can be bought several times cheaper in regular stores. They use marketing gimmicks and psychological tricks to impose capes, vacuum cleaners, beauty kits, and more on people. And loans help them get the deal done without delay.
Buyers are in a hurry, they are not allowed to read the papers and find out all the terms of the contract. Sellers emphasize the advantages of a quick deal, discounts, strengths of the product, while at the same time distracting from financial issues.
Some even take a symbolic payment from a person for the goods and ask "to sign something". And then it turns out that this is a loan agreement. As a result, the seller receives money from the bank, and the buyer is left with a huge debt to the creditor and the goods, which were bought at an overpriced and, perhaps, not really needed.
A hastily issued POS loan (a loan at a point of sale) carries many financial risks. Firstly, the buyer does not have the opportunity to choose a bank, and often simply check whether he signs an agreement with a legal financial institution. There is a danger of making a deal with a black creditor, who will then knock out debts in the literal sense of the word.
Secondly, the terms of the loan are already predetermined, the person does not have time to compare them with the offers of other banks or change them. There is a risk that the rate will be too high, the payment schedule is inconvenient, and the bank's offices and ATMs are located far away.
Thirdly, signing a pile of papers without looking, you may not notice insurance and other additional services that are often imposed along with a loan. As a result, you will have to overpay even more.
Often people realize too late what they are getting themselves into. Unlike Anna, her acquaintance woke up after all the documents were signed and the purchase was completed.
Now she will be forced to repay the loan. It is hardly possible to give the goods and get the money back in order to immediately pay off the bank. Complex equipment can be returned only in the event of a malfunction, and pillows and blankets are not at all possible.
All that remains is to go to court and try to prove that the sellers misled the buyer. In the meantime, the proceedings are underway, you will need to continue to pay off the debt to the bank so as not to spoil your credit history.
If loan payments turn out to be too large or their dates are inconvenient, you can contact the bank and ask for debt restructuring. Lenders often meet clients halfway and change the payment schedule so that it is within the borrowers' ability.
In addition, you can complain to the bank that sellers are deceiving buyers and literally imposing loans on it. Quite often, in such situations, banks stop cooperating with unscrupulous companies - it becomes much more difficult for them to sell their goods to other people.
In order not to run into financial problems, be skeptical of any "super profitable" offers. Always read the documents carefully before you sign your name.
If you are rushed, pushed, or prevented from making an informed decision, this is a sign of fraud.
By law, you always have at least five days to study the consumer loan agreement in a relaxed atmosphere. During this time, its conditions cannot change. Sign documents only if each point is clear to you.
For more information on how to avoid problems when buying goods on credit, read the article "POS loan, or a loan at a point of sale: is it worth taking".
Recently I got a call and was invited to a master class on modern methods of healing. They promised a free miraculous massage and many different pleasant prizes. They asked me to take my passport with me, asked for the address and then sent home a personal invitation. I love gifts, a massage would also be useful - I was tormented by back pain. I decided to go.
The presentation took place at the hotel. Nice young people accompanied me to the hall. There were 50 more people there, I even met my old acquaintance there and we sat down next to her.
First, we were told about the benefits of massage, and then they offered to try it on ourselves. The manager helped me get into a special chair with a massage cape. The young man said that this cape can be used to improve blood circulation in the back, arms, neck, and legs. The sensations from the massage were quite pleasant.
After that, the drawing of gifts began. The host gave my name - it turned out that I won the vacuum cleaner. After the lottery, I was invited to a separate room to claim the prize. The manager said that the vacuum cleaner comes as a gift when purchasing a massage cover. And since I am a prize-winner, they will make a huge discount for me too - 50%. The cape itself costs $ 3000, but they will give it to me for $ 1500.
I was taken aback by such a price - my pension is several times less and in general I don't carry that kind of money with me. The guy said that you don't have to pay right away - you can take out a loan, and then gradually make payments to the bank. He gives me a pile of papers and says: here, sign, you will not regret it. And my daughter forbade me to take loans. She promised, if anything, to help herself. I said that I needed to think and consult with my daughter. The guy began to push and rush. He says that you will not find such an offer anywhere else and the discounts are only valid today. Then it will be much more expensive.
Then I began to wonder what health problems bother me. I said that my back often hurts. The guy replied that his mother had exactly the same problem and only this massage cape saved her. Then he pulled out a catalog of products for the back and neck - there were orthopedic pillows, warming blankets made of natural wool. All this is also with discounts, but the prices scared me very much, even with discounts it is expensive. As a result, I refused to buy anything and the manager very rudely kicked me out the door, said that I was wasting his time.
I’m standing there waiting for my acquaintance to complain to her about the rude person, but she comes out happy and with huge boxes! Fathers, I say, have you bought something? She began to brag - she hadn’t spent a ruble now, she would pay later, she took a cape, pillows and a blanket with discounts. She did not understand at all that she had taken out a loan! Then she called me, cried, her husband scolded her, forced everything to be returned back and the loan was canceled, but nothing could be done, these guys from the presentation had already turned down the shop and did not answer calls. And I don't know how to help her now, because she really signed everything there herself, and the bank makes her pay. What should I do?
Financial Culture Expert:
Anna remembered her daughter's warnings in time and refused such a "profitable" offer. Moreover, the organizers of advertising presentations often skillfully fill the price of goods that can be bought several times cheaper in regular stores. They use marketing gimmicks and psychological tricks to impose capes, vacuum cleaners, beauty kits, and more on people. And loans help them get the deal done without delay.
Buyers are in a hurry, they are not allowed to read the papers and find out all the terms of the contract. Sellers emphasize the advantages of a quick deal, discounts, strengths of the product, while at the same time distracting from financial issues.
Some even take a symbolic payment from a person for the goods and ask "to sign something". And then it turns out that this is a loan agreement. As a result, the seller receives money from the bank, and the buyer is left with a huge debt to the creditor and the goods, which were bought at an overpriced and, perhaps, not really needed.
A hastily issued POS loan (a loan at a point of sale) carries many financial risks. Firstly, the buyer does not have the opportunity to choose a bank, and often simply check whether he signs an agreement with a legal financial institution. There is a danger of making a deal with a black creditor, who will then knock out debts in the literal sense of the word.
Secondly, the terms of the loan are already predetermined, the person does not have time to compare them with the offers of other banks or change them. There is a risk that the rate will be too high, the payment schedule is inconvenient, and the bank's offices and ATMs are located far away.
Thirdly, signing a pile of papers without looking, you may not notice insurance and other additional services that are often imposed along with a loan. As a result, you will have to overpay even more.
Often people realize too late what they are getting themselves into. Unlike Anna, her acquaintance woke up after all the documents were signed and the purchase was completed.
Now she will be forced to repay the loan. It is hardly possible to give the goods and get the money back in order to immediately pay off the bank. Complex equipment can be returned only in the event of a malfunction, and pillows and blankets are not at all possible.
All that remains is to go to court and try to prove that the sellers misled the buyer. In the meantime, the proceedings are underway, you will need to continue to pay off the debt to the bank so as not to spoil your credit history.
If loan payments turn out to be too large or their dates are inconvenient, you can contact the bank and ask for debt restructuring. Lenders often meet clients halfway and change the payment schedule so that it is within the borrowers' ability.
In addition, you can complain to the bank that sellers are deceiving buyers and literally imposing loans on it. Quite often, in such situations, banks stop cooperating with unscrupulous companies - it becomes much more difficult for them to sell their goods to other people.
In order not to run into financial problems, be skeptical of any "super profitable" offers. Always read the documents carefully before you sign your name.
If you are rushed, pushed, or prevented from making an informed decision, this is a sign of fraud.
By law, you always have at least five days to study the consumer loan agreement in a relaxed atmosphere. During this time, its conditions cannot change. Sign documents only if each point is clear to you.
For more information on how to avoid problems when buying goods on credit, read the article "POS loan, or a loan at a point of sale: is it worth taking".
