During the epidemic, many people borrowed online loans. You can really help yourself to alleviate your own problems in the short term when you borrow online loans, but you will find many problems when you repay online loans. Some people didn't see the problem of interest when they applied for online loans, and they will find that the interest has reached more than 30% annualized when they repay. These people don't have much money, and huge interest will only make their financial situation worse.

First, fund-raising tour in the same city is not a formal online loan product.

Strictly speaking, not only the fund-raising tour in the same city is not a formal online loan product, but almost all online loan products are not formal loan products. Formal loan products only have an annualized comprehensive interest of about 20%, while the interest on online loans basically starts from 30%, and some even approach 50%. This is a very exaggerated concept. Users will only become poorer and even insolvent after borrowing these online loans.

Second, informal online loans generally do not sue borrowers.

The reason is very simple. People who borrow online loans themselves don't have much money, and the loan amount is not much. In most cases, users who owe less than 30,000 yuan are not worthy of being sued by online lending companies, because the prosecution itself also requires a certain cost. This cost involves not only staff costs, but also litigation costs and time costs. Some online loans may urge users to claim that they have sued them. This behavior is just a means of collection.

Third, you should find ways to actively repay the loan.

Although the online loan products are not formal, you still have to pay back the formal part of the arrears. In other words, you need to repay the principal and legal interest of the loan. If you encounter bad collection in the process of repayment, you can completely protect your legitimate rights and interests through legal means. After paying off this online loan, you must remember not to apply for an online loan again. Open source and reduce expenditure is the first choice to overcome financial problems.