Online instant loans can be called a top-rated service on Facebook social media networks.
Within 10 minutes Rs. 10,000, 20,000, 50,000, etc., are advertised on Facebook by the relevant institutions stating that they can get a loan.
But as shown in the advertisements, the people who took loans are in a very problematic situation. It is stated that if the loan payment is delayed by even one day as promised, these instant loan companies will even send his personal information to his family and friends saying that the borrower is a fraud.
A press conference was held in Colombo today (25) to inform the public about the problem of instant loans, which has put thousands of people under severe stress.
There were several people who were completely helpless in the trap of these loans, and the lawyers also expressed their opinions about the illegality of the companies providing these loans.
