What does it mean to escape from debt by hanging the net?

Relying on the Internet to evade debts means that loan financial institutions submit the information of loan users who are unwilling to repay to online arbitration, and this debt will be treated as bad debts by loan financial institutions. Users should pay attention to this kind of short message immediately after receiving the notice and pay off the loan as soon as possible. If they are temporarily unable to repay, they can also negotiate with loan financial institutions to determine the repayment time and amount to avoid becoming untrustworthy.

The difference between hanging the net to escape debt and collecting credit.

The difference between debt evasion through the network and credit reporting is that the user's credit information is more comprehensive. Credit report includes not only loans overdue records, but also credit card overdue records and other information records related to personal credit. However, hanging the net to escape debts is only an overdue record of user loan default jointly recorded by online lending institutions. If this information is not uploaded to the credit report by the lending institution, it will only affect the users' loans in other online lending institutions, and has little impact on the users' loans in formal financial institutions such as banks.