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Three authorities warn of consumer group risks

In the last few months several companies organizing consumer groups, appeared on the market, advertising their services widely. However, most of the readers of these ads are not familiar with the idea of a consumer group.

Hungarian Financial Supervisory Authority (PSzÁF), National Consumer Protection Authority (NFH) and Hungarian Competition Authority got many complaints about the matter and collected the most frequently asked one to help others orientate themselves.

Consumer groups are targeting people with weakest financial backgrounds who can’t show a salary certificate and are not credit-worthy otherwise, either. People on the banking black list called BAR or pensioners are also among the most wanted, but consumer groups often offer their services to companies as well.

Many of the above mentioned think that they can get a loan through the consumer groups, but the truth is that they don’t get cash at all, only a right to purchase. (BBJ Online)