Consumer Financing Consulting Sessions in Ho Chi Minh City and Hanoi (September – October 2013)

(Ho Chi Minh City, 05/09/2013) On 05 September 2013, PPF Vietnam Co., Ltd (with the brand name of Home Credit) will hold an official press conference for the Consumer Financing Consulting Program, “Think it through, and sign it wisely”.

(Ho Chi Minh City, 05/09/2013) On 05 September 2013, PPF Vietnam Co., Ltd (with the brand name of Home Credit) will hold an official press conference for the Consumer Financing Consulting Program, “Think it through, and sign it wisely”. The two month program of information sessions will occur in September and October in 10 Co-opmart’s supermarkets in Ho Chi Minh City and 05 Fivimart’s supermarkets in Hanoi. The program will increase the knowledge of customers in regards to personal installment plans and pre-contracting hints. Home Credit, as a leading provider of point of sale installment plans, has persistently carried out the creditor’s responsibilities towards the consumers through consulting activities that publicize and enhance the perceptions of consumer financing. “Think it through, sign it wisely” is a large-scale events that broadens the customers understanding of installment plans and gives customers’ easier access to the modern shopping solution.

Consumer financing is vital for the promotion of retail activities, the premise of the economic growth. Many of us, especially low-income citizens, have lately gained interest in possessing motorbikes, household appliances and high-tech devices. Such interest has greatly motivated the growth of financing companies’ installment plans. However, Home Credit and similar businesses have been greatly challenged to approach and serve the customers, due to the emergence of consumer financing in Vietnam and the limited knowledge of “common class” customers in regards to personal loans. According to Home Credit’s random survey of 1000 consumers in July 2013, only 51% indicated they have knowledge of consumer financing, while 43% admitted to “general” and basic ideas, and 7% indicated they had no knowledge of the shopping solution.

Over 10,000 issues of the handbook, “Think it through, sign it wisely”, have been, for the first time, delivered to customers through the supermarkets, VINATAS’s members and Home Credit’s associate stores. This handbook provides details on the fundamentals of financing, hints for installment plan procedures, a pre-contracting reminder, and the creditor’s and debtor’s duties and responsibilities. Home Credit’s illustrated handbook, presented in a plain and simple manner, is given free to help the customers access the modern shopping solution in a strategic and wise way.

Mr. Friedrich Weiss –VN PPF VN’s CEO says: “Most Vietnamese people are not accustomed to reading and inspecting the conditions and terms of a contract in a thorough and cautious manner before bearing their signatures. Such behavior harms the customers’ as they will incur penalties or receive a record of bad credit, which impacts their ongoing credit-based transactions. The main reasons that this occurs is neglect and non-compliance with the contracted terms. Our consulting program is intended to remind customers to think carefully before signing any contract. Our goal is for the customer to ask many questions of our consultants before applying for a loan and signing a contract.”

The consumer financing consulting program, “Think it through, sign it wisely” is piloted in Ho Chi Minh City and Hanoi before expanding to various provinces and cities in 2014.

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The schedule of consumer financing advisory sessions in supermarkets :

      NO.

SUPERMARKET

ADDRESS

DATE

1

HCMC

Coopmart Phu Tho

Block A, Phu Tho Tenement Building, Ward 15, Dist. 11

31/8 &1/9

2

Coopmart Hau Giang

188 Hau Giang, Ward 6, Dist. 6

31/8 &1/9

3

Coopmart Ly Thuong Kiet

497 Hoa Hoa, Ward 7, Dist. 1

7/9  & 8/9

4

Coopmart Hoa Binh

175 Hoa Binh, Hiep Tan Ward, Tan

Phu Dist.

7/9  & 8/9

5

Coopmart Nguyen Kiem

571-573 Nguyen Kiem, Ward 9, Phu

Nhuan Dist., HCMC

14/9 & 15/9

6

Coopmart Rach Mieu

48 Hoa Su, Ward 7, Phu Nhuan Dist.

14/9 & 15/9

7

Coopmart Nhieu Loc

Screc Tower, Ward 12, Dist. 3

21/9 & 22/9

8

Coopmart Phan Van Tri

543/1 Phan Van Tri, Ward 7, Go

Vap Dist.

21/9 & 22/9

9

Coop extra Thu Duc

934 Route 1A, Linh Trung Ward,

Thu Duc

28/9 & 29/9

10

Coopmart Route 13

224/5 Bis, Route 13, Ward 26, Binh

Thanh

28/9 & 29/9

1

Hanoi

Fivimart Hoang Quoc Viet

94 Hoang Quoc Viet, Cau Giay Dist.

5/10 & 6/10

2

Fivimart Vo Thi Sau

99 Vo Thi Sau, Hai Ba Trung Dist.

5/10 & 6/10

3

Fivimart Dai La

163A Dai La, Ha Ba Trung Dist.

12/10 & 13/10

4

Fivimart Le Duc Tho

89 Le Duc Tho, My Dinh Dist.

12/10 & 13/10

5

Fivimart Hoang Hoa Tham

671 Hoang Hoa Tham, Ba Dinh Dist.

19/10 & 20/10

 

Posted on 27.11.2014