observatornews.ro/economic/un-roman-a-imprumutat-7

A Romanian borrowed 7,500 lei from a non-banking financial institution and ended up with a debt of 68,000 lei due to high interest rates. Many individuals are turning to IFNs for quick loans, leading to a rise in defaults. The number of borrowers with overdue payments has increased significantly, with one in ten facing difficulties. Legal restrictions exist on interest rates for loans under 25,000 lei, but IFNs often bypass these regulations. The situation highlights a growing debt spiral, with many borrowers unable to repay their loans and facing legal actions such as wage garnishments and property seizures.