Etusivu \ Consumer Issues \ Financing Services and Debt Collection \ Payday loan provider IPF Digital Finland Oy to Market Court for unreasonable and unlawful credit conditions

Payday loan provider IPF Digital Finland Oy to Market Court for unreasonable and unlawful credit conditions

In March 2017, the Consumer Ombudsman applied for an injunction from the Market Court on the payday loan company IPF Digital Finland Oy. The company had offered consumers the Credit24 Joustolimiitti flexible loan product. This consisted of ongoing, running credit with a credit limit of between EUR 100-4,000 and with a repayment period of 1–6 months. The company had not included the withdrawal fee in the credit costs when calculating the annual interest rate. This gave consumers a false impression of the credit costs, which also distorted the comparability of different consumer credits.