Although we welcome the presence of an online loan platform that we can use when we need emergency money, because online loans do not require collateral, we only need to provide an ID card and phone number. but many rogue platforms abuse people's trust to make as much profit as possible. Personally, I've never taken out a loan, or been in debt, but I often read complaints from online loan platform users in online consumer media, ranging from threats from debt collectors, high interest rates, etc. Here is a summary of 5 online loan risks from several users.
1. Loan interest is too high
Even though the loan application says the interest is only 0.5 per day, although it looks small, but if you accumulate it for one period it will be a large amount, for example, your loan tenor is one month, the interest calculation is 0.5% X 30 days = 15%.
2. Terror Debt Collector
If you don't pay on time, the terror and threats of debt collectors will act, starting from personal, family, office phones.
3. Misuse of Personal Data
When you are going to borrow money, the online loan platform will ask for your ID card, phone number, upload a selfie that shows the ID card on your face.
4. Damaging Social Relations
When you apply for a loan, you must provide your office phone number (if you work) and your closest family's phone number as collateral. then if you are late paying the terror will spread everywhere.
5. Unreasonable fines
If you are late paying, not only will you get high interest but you will also get irrational fines, because basically online loans do not have rules and transparency.
So basically, think twice before you decide to make an online loan, what do you think?
1. Loan interest is too high
Even though the loan application says the interest is only 0.5 per day, although it looks small, but if you accumulate it for one period it will be a large amount, for example, your loan tenor is one month, the interest calculation is 0.5% X 30 days = 15%.
2. Terror Debt Collector
If you don't pay on time, the terror and threats of debt collectors will act, starting from personal, family, office phones.
3. Misuse of Personal Data
When you are going to borrow money, the online loan platform will ask for your ID card, phone number, upload a selfie that shows the ID card on your face.
4. Damaging Social Relations
When you apply for a loan, you must provide your office phone number (if you work) and your closest family's phone number as collateral. then if you are late paying the terror will spread everywhere.
5. Unreasonable fines
If you are late paying, not only will you get high interest but you will also get irrational fines, because basically online loans do not have rules and transparency.
So basically, think twice before you decide to make an online loan, what do you think?
