Are “Call us if you can’t get a loan” ads making a comeback?

Hüseyin Gökçe from Ekonomim addressed the high interest rates and claims regarding credit cards in his article. In his piece, Gökçe mentioned that it is possible we will see “Call us if you can’t get a loan” advertisements again, stating the following:

"It wasn't long ago, just a few years back, that we would come across interesting flyers on the streets of the capital, Ankara, at bus stops, and in every public space. These ads would feature phrases like 'Call us if you can’t get a loan' along with a mobile phone number. We haven't seen these ads, which specifically targeted people struggling with payments and unable to find resources from banks, for a long time following the strict measures taken by the Ministry of Trade at the time."

Gökçe noted the following:

Although both the Communications Directorate's Center for Combating Disinformation and the Minister of Treasury and Finance, Mehmet Şimşek, stated that there is no such regulation following the news that 'installments have been abolished,' they did not say 'there is no such thing on our agenda.' In other words, they did not say 'we will not do it.'

What is certain is that there will be a regulation regarding installments. It is being discussed that installments might be permitted by setting sectoral limits in critical areas such as health and education, while installments could be completely abolished outside of these areas.

A definitive restriction on credit card limits is also expected. However, it is more likely that this will be applied to newly issued cards rather than existing ones. It is also stated that the limit, which is currently capped at 4 times the income for new cards, could be reduced to 3 or even 2 times.

"IT IS POSSIBLE WE WILL ENCOUNTER SPONSORED LOAN ADS ON SOCIAL MEDIA"

However, if the most radical of the options is chosen and both existing limits are reduced and installments are completely abolished, it is possible to see the advertisements we mentioned at the beginning of the article again. In fact, considering that technology has advanced further and social media usage has increased, it is highly likely that we will frequently encounter sponsored loan advertisements on these platforms.

While the economic management, working very aggressively to reduce chronic inflation, creates policies to restrict spending, it must also consider the risk of citizens who have difficulty accessing financing turning to loan sharks.

News Source: 12punto