Public information shows that "714 anti-aircraft gun" is used to describe short-term loans with ultra-high interest rates. "714" means that the loan period is generally 7 days or 14 days, and "anti-aircraft gun" means its high "beheading interest" and "overdue fees."

It takes 7,000 yuan, 10,000 yuan after 6 days, 10,000 yuan, 14,000 yuan after 6 days. One month later, the initial debt of 7,000 yuan will roll to 40,000 yuan. At the same time, Ms. Dong discovered that overdue fees for loans that have not been repaid are also endless, reaching 5% to 10% of the principal every day.

“There are about 50 loan platforms, and the daily overdue fees are more than 10,000 yuan.” Ms. Dong said that in the past three months, she and her relatives and friends have been making daily repayments while , constantly receiving various insulting collection calls.

Xiaoying, who lives in Xuzhou, also had a similar experience. In order to pay off her credit card, she was attracted by the "low-interest" loan products marked in the "Wishful Loan" software. She borrowed 2,000 yuan, and two months later, it turned into 200,000 yuan. Xiaofang, who lives in Hangzhou, has also taken out loans on such small loan platforms. In just two months, the amount owed increased from a few thousand yuan to 150,000 yuan.

The "Notice on Matters Concerning Regulating Private Lending and Maintaining Economic and Financial Order" issued in May 2018 clearly states that without the approval of the competent authority in accordance with the law, no unit or individual may establish a business to engage in or mainly engage in lending business Institutions shall not use lending as a daily business activity. Strictly crack down on intentional injury, illegal detention, insult, intimidation, threats, harassment and other illegal means to collect loans.

A practitioner in the Internet finance industry bluntly said that underground ultra-profit loans are showing signs of resurgence. Ordinary consumers must be cautious about such short-term loan apps and do not use such substandard software for the convenience of borrowing to prevent them from eventually falling into a debt vortex. Related Q&A: Related Q&A: Is lending money usury?

I obviously wanted to get a loan, but I thought it was not urgent, so I first clicked on a few online loans to deal with emergencies, but in the end I couldn’t get the loan!

No online loans, no online loans!

Bank interest rates are low and formal. The lowest you can get is 2.5%, a loan of 10,000 yuan, the monthly interest is only 25%. Which online loan can be compared?

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