Hello, I want to ask why I need 699 yuan to activate after I borrowed 1 10,000 yuan from everyone's loan, and the money is useless. Let me return it next month?

Online lending, in my eyes, is usury, and the annualized interest rate is basically maintained between 20% and 35%

So, why is the interest on online loans so high?

1: P2P mode, in a nutshell, is to put your loan demand as a project on their website, so that many people with spare money will invest in this project, they will get benefits, and you will also get the loan you want. But you have to bear the service charge, interest, all kinds of expenses such as scratching the ball. Most online loans are operated in this way.

2. Credit card repayment, what should I do if I spend too much credit card? You can apply for credit card repayment and sign relevant loan agreements and contracts. The investor will directly transfer the money you borrowed to your credit card, and then you will pay it back to the investor regularly every month. The interest rate is generally 20% annualized.

When borrowing a lot of online loans, I even have to bear it.

1: beheading interest (for example, the loan 1 10,000, and the actual down payment of 9,500,500 is the upfront cost).

2. High interest rates

3. Service fee, agency fee, and all kinds of edge ball fees.

Speaking of which, it should be said from three aspects.

First: the harm of online lending to your credit.

First of all, when applying for online loans, they will check your credit report and leave a record every time. If the application is successful after the inquiry, if not, then this record will be kept in the personal credit information system for 2 years, and will be automatically eliminated after 2 years. There are too many credit inquiry records in a short time, including too many unapproved articles and too many post-loan management records, which will affect your approval of other loans. Overdue records are kept for 5 years after being paid off, and will be automatically eliminated after 5 years. If the circumstances are too serious, your mortgage and car loan will be difficult to come down.

Then, if the online loan is a credit report, this loan record will always follow you. If there are too many records of small loan applications, many places will think that you have no basic repayment ability, and you are more aware of the consequences of bad credit.

Finally, apply for an online loan and your information will be sold. There will be an overwhelming number of phone calls, text messages and even harassment of your family. Your phone records are also a strong proof of your life. It's all loan text messages and phone calls. Do you really have a good life?

Second: the repayment method can kill you.

Most people don't know how to repay each month when they apply for online loans. Of course, you just know how much to pay back every month.

1: equal principal and interest

Forget complicated formulas. Generally speaking, you borrow 65,438+00,000 in installments. The repayment amount of each installment is 1 100, but in this 1 100, the principal is gradually increased and the interest is gradually decreased. If this repayment method is used, the more installments are divided, then many previous installments are basically interest and the principal is very small. If one day you want to repay in advance, you will find that the principal is almost 1 000, and the interest is still very painful. I won't leave early. Congratulations, you're trapped.

2. Equal benefits

It's just a fixed monthly principal and interest. There is nothing to explain.

3. Interest before capital

There is this thing somewhere.

Third: I hope you can live a good life as a stranger.

At first, I bought my mobile phone by stages, and then suddenly one day I received a phone call from a letter saying that I had a high cash loan, and the monthly repayment amount was fixed, which could be divided into many stages. I took out a loan and paid it back for several months. I want to pay it back in advance. As a result, the principal and interest are equal. After one year's repayment, the interest will be reduced by 10,000, and the principal will be more than 1 1,000. I'm really scared.

If you have no money, I hope you can make money. Don't be occupied by desire and comparison like me. My beloved left me, and my friend alienated me. In addition to paying back money every day, my mind is paying back money, and I can't laugh at the age when I should be happy.

Friend, I advise you not to touch such things.