Most of the loans are taken when a person is in need of money.And its a phenomenon when you have to pay back whether its your friend or the bank you believe that you care cheated.So there is frictioon and one tends to avoid making payments.The other side of story is Banks have no fixed rates charges for each loan to all customers, so they try to make more money.So problem is at both ends.The only solution is when you take the card loan pls go through the agreement which only 1% of customers read.Make note at yourself of your charges etc. What banks can do is a get a signatures on all fee/ rates from customers so they kow what they have sold to the customer, he cannot deny.
