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SOURCE ROOM

Money Lending Business Act Q&A

Financial Services Agency

Claims Supported by This Source

  1. Total loan amount regulation: If the outstanding balance of loans from money lenders exceeds one-third of your annual income, you cannot take out new loans. For an annual income of 3 million yen, you can borrow up to 1 million yen from money lenders.
  2. If you are borrowing from multiple money lenders, the total amount from all companies must be within one-third of your annual income.
  3. Even if you have borrowings exceeding one-third of your annual income, you will not be immediately required to repay them, nor will the borrower be penalized.
  4. Money lenders confirm a borrower's annual income by receiving "documents proving annual income". All provisions, including the total loan amount regulation, came into effect on June 18, 2010 (Heisei 22).

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