Cases of fraud, false invoices, unjustified expenses, etc. Illegal acts in the personal loan industry are legion but preventable.
'I have unbeatable loan terms!'
'Great! Yet, all serious players in the market offer similar conditions. After all, they follow Swiss legal guidelines and as you know, quality still comes at a price. How did you do it?'
'It's simple, I came across an ad from a credit company based abroad that had a breathtaking offer'
Rule number 1: Companies based abroad are not allowed to grant loans to consumers in Switzerland. Only rely on companies that are clearly headquartered in the country.
It's a small company that offers super low rates!
'OK, why not. You don't necessarily have to choose the biggest ones. As long as it's in the store, it's fine.
'For a moment, I check if it is registered in the central index of business names. Oh no...'
Rule number 2: Beware of false promises. Your contact person must be a registered company and have a company identification number. Don't trust an unrecognized company.
'No questions, super easy, I got the deal right away!'
'Not even a question about your income? No file analysis?'
'Nothing... I asked for the amount I wanted and they said ok'
Rule number 3: The Consumer Credit Act prohibits actions that may lead to over-indebtedness. Any loan application must be subject to a thorough analysis to assess your ability to repay. Be wary of unscrupulous interlocutors. Prepare a file that will be analyzed by professionals.
'The administrative costs are not cheap but hey, I have my credit at least!'
'How much did they ask you?'
'Oh, not much in the end. Approx. 200 CHF. They have management fees to cover and there is also a fee to submit an application to be expected'
Rule number 4: Your broker, financing platform, intermediary... does not have the right to charge you an application fee. This is contrary to the legal requirements in this regard. All the more so since the remuneration for the service provided is provided by the lending banks. Don't pay.
'All I have to do is pay an advance sum as collateral and bingo, I've got my loan!'
'What guarantee?'
'Well, you know, the amount you have to advance to be able to get a loan'
Rule number 5: You don't take out a mortgage. There is no amount of money to be advanced in order to obtain a loan. If you're asked for the slightest cent, it's because there's something wrong with the company. Don't give money.
The law is very clear on this. 'No payment of any kind whatsoever may be required from an individual before obtaining one or more loans of money.'
"I've been turned away everywhere but now they're helping me bend the rules. It's great!'
'Circumventing the rules... You mean circumventing the law?'
'No no, they assured me that we could just forget some details and play with the numbers a little bit here and there'
Rule number 6: If you cheat, you lose. In the world of finance, verbs such as lying, omitting, embellishing, circumventing, hiding... have no place. Anyone who advises you to do so under the guise of an act of kindness is trying to scam you. This is serious misconduct at best, and at worst, fraud that can lead to serious consequences. Play the game. The rules are there to protect you too.
"It's crazy. I changed my mind about my signed loan yesterday but they tell me it's too late.'
'Have you looked to see if you are entitled to a cooling-off period?'
Rule number 7: You have the right to withdraw. This can be done up to 14 days after signing your credit agreement. It's the law.
'You know what? This credit story is too important. I will do my research, compare and choose a serious interlocutor, based in Switzerland and who is a reference in the sector.'
Well, yes! A loan commits you and your approach aims to improve your life; Don't take uncalculated risks, especially with a crooked interlocutor.
By following these rules, you will be reassured about your partner's seriousness. Choose a financing platform such as Milenia.
Company based and registered in Switzerland.
Benchmark in the credit industry.
Responsible and ethical.
Partner of the largest financial institutions in Switzerland.
Accessible on site, by phone, WhatsApp and email.
Strictly enforcing the law on consumer credit.
We are committed to providing you with a tailor-made solution adapted to your budgetary reality.
Offering complementary services in the field of unemployment insurance and partner of a company specialized in debt reduction.
Speed, 0 fees, conditions.
While respecting the best practices of the sector, your file is drawn up easily and quickly. Your advisor will be able to analyze your documents diligently and provide you with a response within 24 hours.
Your rate? By benefiting from an expanded network of banking partners, you benefit from the best conditions on the market.
Fees? Refer to the above rules. There are no fees related to the management of your file, no remuneration related to administrative expenses and no advance payment to be expected. 0 cost, 0 commitment.
Personalized service? Of course. Our team is multilingual and at your disposal. We respond to you with kindness and professionalism. You are unique, so is your request and each case deserves to be taken care of in a way that takes into account the particularities and specificities of your personal situation.
If you'd like to know more, visit our financing platform or call your advisor directly. We will be happy to get to know you and support you in the realization of your project.
