Using loans to support loans means to tear down the east wall to make up for the west wall. It means that you have no income, or you cannot make ends meet, and your income cannot make up for the gap. The consequence of this is that the hole will get bigger and bigger. Wait until you realize When it is dangerous, it will basically collapse.
As for interest, generally speaking, credit cards are the least. For example, if you apply for bill installments, for example, if it is 10,000 yuan, the handling fee for each installment is 0.75. If you apply for 12 installments, one * ** is 900 yuan. You must know that this is not interest first and then principal, but equal principal and interest. That is, you have to repay the principal of 833 yuan plus a handling fee of 75 yuan every month. Therefore, after calculation, on average it is equivalent to borrowing The interest on 10,000 used for one day is 4 yuan. If the handling rate is lower than 0.75, the fee is lower, and if it is higher than 0.75, the fee is higher.
This processing fee is related to your personal credit qualification. If your credit is good, the fee may be very low. I have seen a fee of 0.4 per period. If this is the case, it is still good to use it once. of. If your qualifications are average, the rate may reach 0.9, in which case the cost will be higher. It is okay for a short period of time, but over a long period of time, the pressure will be great.
Compared with credit cards, Alipay’s WeChat micro-loans have higher interest rates, usually 5 yuan a day for borrowing 10,000 yuan. The advantage is that you can borrow and repay at any time.
Other online loans have higher interest rates. Some borrow 10,000 yuan and the interest is seven or eight yuan a day, and some are even higher. This kind of loan cannot be used.
Therefore, using loans to support loans is like boiling a frog in warm water. You don’t feel the danger at first, and you even have the illusion that you are not short of money and can move around easily. But when you are slow When you slowly realize the danger, you are not far from collapse. At this time, you may suddenly feel upset, anxious, fearful, and stressed to the point of insomnia.
In short, you will have to pay back sooner or later when you come out to work, and the money you borrow will have to be paid back sooner or later. When you spend it, you will feel happy for a while, but when you pay it back later, it will be a mess. Therefore, never use loans to support loans.
Let me talk about my reception interest. Jiebei increased from 40,000 to 5.50,000, and then it was closed. I sorted through the loan and return records for reference. From August 2015 to September 2021, I borrowed 1.366 million yuan in one month. As of December 9, 2021, the repayment amount was 1413014.45 yuan, and I still need to repay 120927 yuan. I calculated it using the XIRR function. The average interest rate over the past few years is 16.5863. Let me calculate it using compound interest again. Suppose a *** borrows 200,000 yuan, and the interest is 50,000 yuan. Calculated as 18.25, assuming that the 200,000 yuan has been used to finance the loan, it becomes 236,500 yuan after one year, and it becomes 236,500 yuan after two years. The amount was 279661, and after three years it became 330699, and after four years it became 391052. It is estimated that even within four years, the quota will not be given to you. It will basically double in four years. The interest is too high!
If you don’t enter but exit, you will go bankrupt sooner or later.
Once you get into online lending, the depth is as deep as the sea. Routine online lending is like a drug, driving people into desperate situations. Once you fall into it, it will be difficult to pay it off even if you lose everything. High interest rates and violent collections are equivalent to exchanging money for your life. This is by no means alarmist, but a bloody fact. How many people have been harmed by online loans and their families have been ruined. Everyone should be alert!
How high is the interest rate on online loans? It can be as high as you can imagine, and there are many people who can borrow one thousand and repay tens of thousands. Not to mention "714 Anti-aircraft Gun" and the like, just take the so-called "regular platforms" as an example. The interest rates are several times that of formal financial institutions. Once you are restricted to the cycle of using loans to support loans, you will really have a dead end in the end. Therefore, instead of being dominated by desires, it is better to truly enjoy freedom and be debt-free. The best way to get rid of online loans is to not touch them in the first place.
To support a loan with a loan, you usually borrow multiple online loan products at the same time. As long as the online loan is overdue, it will be collected. If you borrow this amount and repay the previous one, there will always be a failure to repay it on time, and If you use loans to support loans, it will only increase your repayment burden. In the beginning, you only owe a loan, but by using loans to support loans, the more loans you borrow, the more you owe, and the interest and arrears snowball. It got bigger and bigger, and eventually it became impossible to repay.
Nowadays, there are many people who owe online loans. What is commonly used is to use loans to support loans. Once a loan platform has problems and cannot borrow money, then using loans to support loans will not work. Loans If you don't pay it back, it will lead to more serious consequences, so don't use loans to support loans.
If you don’t make any money and keep borrowing and repaying, you will only get more interest. Once you stop borrowing, it will all be overdue.
Do you still need to pay back the online loan?