After the loan is overdue, most debtors will be subject to overwhelming collections. However, there is a type of collection method that will not threaten you or roughly ask you to repay the money. They will often pretend to be professionals and tell you Your “Tips” to Pay Back Money Early.

The so-called "techniques" they either ask you to cash out through your credit card and withdraw a sum of cash, or they ask you to apply for other loans to repay the money owed on this loan, which is what we often ask you to do. It is said that "loans support loans".

If you have weak legal knowledge and actually follow what they say, you will find that you are actually being transferred from one pit to another.

Why do you say that?

First of all, it is illegal to use credit cards to commit loan fraud.

A credit card is essentially a small-amount credit loan, and the essence of credit card cash-out is that merchants collude with cardholders to maliciously obtain a certain amount of loans from banks in the name of consumption. This is in some way To a certain extent, it is alleged to be a loan fraud involving fictitious facts.

The danger of "supporting loans with loans" is that it will increase the amount of liabilities and increase the burden of repayment.

Before using a loan to finance a loan, you may just owe a debt. By using loans to support loans, one debt may become two. The debts continue to accumulate, the amount of the debt continues to increase, and the interest accumulates month by month. In the end, it is impossible to pay off all of them.

Therefore, Caiyouyou reminds everyone that when dealing with overdue loans, we must have an optimistic attitude of actively resolving them. Currently, most loans can be extended or installmentd through negotiation with the lending institution. To reduce debt pressure and solve repayment problems legally and reasonably, there is really no need to use extreme or even illegal methods to solve it.