What history of blood and tears have you experienced because of online loans?

I have not personally experienced it, but I once saw a blog telling about his history of blood and tears.

At that time, his monthly salary was more than 3,000 yuan. At that time, he had been exposed to online loans for more than two years. The first time he came into contact with online loans was when he was a senior in college, because the rent for the house he rented outside was about to be due, and the money he owed others had not yet been repaid. He didn't want to ask his parents for money, so he tried online loans.

Because of an advertising slogan: "Borrow in three minutes, lend in five minutes", this netizen really felt as if he had found a life-saving straw. After that, he lived a "loan to repay loan" lifestyle. Every month there is still money that cannot be paid off, and the more I owe, the more I owe, and it feels like I can never pay it off no matter what. After a year, he calculated the amount owed by a banker, and it turned out to be more than 50,000, which was an astronomical figure for him at the time.

In fact, when you borrow money, you have to pay it back, but the interest rates on these online loan platforms are really too high. The interest rates on most online loan platforms are above 10%. Every accumulation will make you more and more stressed day by day. You may not have borrowed much money, but you will have to pay back a relatively large amount in the end.

Later, this netizen finally paid off these online loans, but his family also owed a lot of money to relatives and friends. For him, this online loan experience was simply a nightmare. Although he has woken up now, it still had a considerable negative impact on his heart and life.

So I think there is really no need to go for online loans. I need to learn my own economic management, manage finances reasonably, and try to stay away from the life of online loans.