What should I do if I owe a lot of online loans and can’t repay them?

The online loan is really unable to be repaid. There are three steps to deal with it:

The first step is to terminate all loans to support the loan and seek understanding and help from family members. Don't use loans to support loans. This will only make online loans more repayable, and all platforms will become overdue if they are overdue.

The second step is to understand your breach of trust, work hard and actively repay the loan. Check your credit through the credit reference center, and understand which online loans have been entered into the credit reference system and which ones have not been entered into the credit reference system, so that you know what to do and repay the loans in order. What's more important is to find a job and work hard to make money, and negotiate with banks or lending institutions to extend the repayment period or repay in installments.

The third step is to respond rationally to huge profit collections. Post a statement in advance in your circle of friends to explain to everyone the huge profit collection you are experiencing, apologize for the possible harassment, and suggest everyone cooperate to hang up these disturbing calls and leave them with new numbers to reduce the number of old phone numbers. use.

Extended information

1. How to negotiate repayment of an overdue online loan?

1. Actively negotiate and repay: Don’t wait for overdue online loan collection calls before you want to negotiate. You can proactively contact customer service to negotiate repayment before it is overdue, and give you a grace period or direct reduction or exemption. If the customer service does not agree with the interest rate, you can call more times.

2. Be sincere and sincere: You need to be sincere when communicating with debt collectors. Don’t just say that you have no money. They are tired of hearing this. After you can talk about the difficulties, express your good willingness to repay, list your repayment plan, explain that you have income from work and are working hard to raise money.

3. Act with reason and retain evidence: If there are non-compliances in online loans, such as membership fees, review fees, etc., or there are violent collections, you can retain relevant evidence to understand Have a certain amount of legal knowledge to negotiate, be careful with your words, and avoid verbal violence.

2. The nature of the website and the consequences of non-repayment of online loans:

1. Regular online loans. Everyone is familiar with formal online loans such as Alipay. The interest rates are slightly higher than or similar to banks, and they have all the lending qualifications. If you fail to repay these online loans, you will first be subject to collection; secondly, your credit report will turn black; and finally, you may be subject to loan collection or prosecution.

2. Informal online loans. This type of online loans is very common, and their typical characteristics are high interest rates, upfront fees, membership fees, short borrowing cycles, and scary collections. At least 98% of cash loans are not compliant! IOUs, 714 small loans, cash loans, etc., you can hardly find one that fully complies with national regulations. If this part of the online loan is not repaid, the online loan company will suffer huge losses and there will be no other legal consequences!

3. It is formal in name but informal in fact. They are usually online loan platforms, such as Jiux, Paix, etc. Most of them are p2p. Because their qualifications are compliant, they claim to be compliant to the outside world. However, its actual operation is on the edge of the law, and there are irregularities in many places.

If you fail to repay this part of the online loan, the worst result is to face a lawsuit! Their goal is whether you can continue to repay the loan and repay the high interest, and they do not want to take legal action. Therefore, for this type of online loan, the best thing to do is to wait for them to sue before repaying the money once they are violently collected. This way you can effectively avoid excess interest.

Therefore, no matter what perspective you look at the issue of online loans, there are many risks. It is still recommended that everyone consume rationally and use online loans in principle.