the amount of pay day loans given in Lithuania decreased by two thirds on year, whereas the amount lent to customers 
halved year. Credit lenders assessed customer solvency more responsibly. When it comes to very first time in history, credits overdue reduced in number.
вЂChanges are obvious. Active guidance, stricter needs regarding the Law on Consumer Credits that arrived into force at the start of the and competition forced credit lenders to fundamentally change their approach and assess customer solvency more cautiously year. Each one of these modifications relieve the overdue loan payment burden, that also mitigates the possibility of serious social repercussions,’ said Vitas Vasiliauskas, Chairman regarding the Board of this Bank of Lithuania. Continue reading “Let me make it clear about alterations in pay day loan market — more responsible financing, fewer indebted”