Is orange barley loan formal?

Barley wallet is a formal loan platform with a legal system, but it should be noted that most online loans will have high interest, and at the same time, non-timely repayment will be included in the credit information system, which will have an impact on the future.

Many formal online loans are connected to the central bank's credit information, and each application will leave a query record of loan approval. The more online loan applications there are, the more records there will be and the credit information will be very expensive. There is also the repayment of online loans. Too many online loans are easy to be overdue, and then they will be reported to the central bank for credit reporting, leaving a bad credit record. Don't think that you don't have to pay back the loan. Once overdue, it will be collected by the online lending platform in various ways. Text messages and phone bombardments are very common, and even you will go to work and collect them at home. The address book will be exploded, and mobile phone contacts will receive short messages from borrowers who do not repay their online loans.