Employee houses charge interest of up to 40% month

Page Seven / La Paz

The pawns that operate in the cities of La Paz and the high charge interests that even reach up to 40% depending on the amount.The Financial System Supervision Authority (ASFI) began registering these businesses yesterday, but it will not yet regulate interest rates.

Page Seven made a tour of the effort houses that work in the eyebrow of El Alto, the businesses that are in the vicinity of the Eguino square, which are located on Figueroa street and in front of the Plaza Alonso de Mendoza, in La Paz.

“I have come to pick up my TV, it's new, in September we bought it.My dad has rusted and we needed silver urgently, that's why I have lent myself money on that guarantee, ”said Guillermo N., who yesterday waited for his creditor.

The garment that this neighbor of the area.200 Bolivians.His lender appraisals the artifact in 4.000 Bolivians, who only agreed to lend him 1.500.

“He gave me the money and we signed a contract, which said that every month I had to pay an interest of 600 Bolivians.In the fourth month I had to bring interest and capital, but lost TV, ”he said.

In addition to this case, there are businesses in which loans of higher money amounts are offered, “instantly” and at a delivery of the documentation of a house or a vehicle.

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For sums that range between 4.000 and 10.000 dollars, the interested party must leave in the hands of the lender the papers of the real estate, sign a private document and grant a power letter, that the business owner can use at the first delay in the payment of interest.

For these amounts, monthly interests of 800 and up to 2 are paid.000 dollars (20%) since the predicted guarantee has a commercial value of 12.000 and 25.000 dollars.

With the regulating of the pawns, the ASFI reported that the registration will allow identifying the businesses dedicated to this activity, its geographical location and the work modalities that they use to provide their services.An ASFI survey in 2013, revealed that rates ranged between 0.25% and 28% monthly.

These houses are considered of public interest, as provided in paragraph I, article 6 of Law 393 of Financial Services.In this context, it is understood that they provide a complementary financial service.

The ASFI programmed that the registration of these businesses extend until April, via electronic form or by line 2174444.

A census warned the existence of at least 543 effort houses in the country, only 59% agreed to provide information to the ASFI.

Excessive charges