Lawyer Mehrabyan called collateral loans the most dangerous because of the risk of being left without property
Photo: Ilya Naymushin / Reuters
Collateral loans are among the most dangerous. This was told to Izvestia by Samvel Mehrabyan, a lawyer at the United Defense Center.
He noted that in case of late repayment of the loan, the mortgagee can take away the property. As a result, without calculating their strength and capabilities, a person may be left with debts, but without housing or a car, the expert warned. Mehrabyan also explained that the reason for getting into debt is usually the wrong distribution of income and expenses.
In addition, independent financial expert Alexander Pateshman noted the danger of credit cards. According to him, in case of late payment of loan payments, the bank’s interest can reach up to 25 percent.
The leader of the “Solution Here” project, Sergey Lobov, attributed “emotional” loans to the most risky. According to him, borrowers take them for spontaneous purchases, such as a vacation in Dubai or a new smartphone.
Earlier, Maxim Kvasha, an expert at the NIFI Financial Literacy Center of the Ministry of Finance of Russia, called loans with a debt load above 50 percent of income dangerous. He also recommended that Russians monitor their disposable income — the one that remains after mandatory spending.
